MML Investors Services LLC boosted its position in Centene Corp (NYSE:CNC) by 16.6% in the 1st quarter, Holdings Channel reports. The firm owned 14,928 shares of the company’s stock after acquiring an additional 2,127 shares during the quarter. MML Investors Services LLC’s holdings in Centene were worth $793,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of CNC. Thrivent Financial for Lutherans increased its stake in shares of Centene by 1.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 8,968 shares of the company’s stock worth $1,034,000 after acquiring an additional 158 shares during the last quarter. Lincoln National Corp increased its stake in shares of Centene by 1.6% in the 4th quarter. Lincoln National Corp now owns 11,368 shares of the company’s stock worth $1,311,000 after acquiring an additional 180 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Centene by 5.0% in the 4th quarter. American Century Companies Inc. now owns 4,041 shares of the company’s stock worth $466,000 after acquiring an additional 192 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Centene by 2.6% in the 4th quarter. Daiwa Securities Group Inc. now owns 7,811 shares of the company’s stock worth $901,000 after acquiring an additional 200 shares during the last quarter. Finally, Bessemer Group Inc. increased its stake in shares of Centene by 140.7% in the 4th quarter. Bessemer Group Inc. now owns 349 shares of the company’s stock worth $41,000 after acquiring an additional 204 shares during the last quarter. 90.75% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have issued reports on CNC shares. Zacks Investment Research downgraded Centene from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 15th. Credit Suisse Group cut their target price on Centene from $76.00 to $63.00 and set a “neutral” rating for the company in a research note on Friday, March 29th. ValuEngine raised Centene from a “strong sell” rating to a “sell” rating in a research note on Friday, April 26th. Morgan Stanley cut their target price on Centene from $83.00 to $75.00 and set an “overweight” rating for the company in a research note on Wednesday, April 24th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and issued a $83.00 target price on shares of Centene in a research note on Wednesday, February 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have issued a buy rating to the stock. Centene presently has an average rating of “Buy” and a consensus target price of $75.69.
NYSE CNC opened at $53.55 on Friday. The firm has a market cap of $22.21 billion, a PE ratio of 15.13, a price-to-earnings-growth ratio of 0.91 and a beta of 1.00. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04. Centene Corp has a twelve month low of $45.44 and a twelve month high of $74.49.
Centene (NYSE:CNC) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.07. The business had revenue of $18.44 billion during the quarter, compared to analysts’ expectations of $17.44 billion. Centene had a return on equity of 14.60% and a net margin of 1.66%. The company’s revenue was up 39.8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.17 EPS. As a group, equities analysts expect that Centene Corp will post 4.37 earnings per share for the current year.
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Centene Corporation operates as a diversified and multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. The company's Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term services and support, foster care, and medicare-medicaid plans, which covers dually eligible individuals, as well as aged, blind, or disabled programs.
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