Nissay Asset Management Corp Japan ADV boosted its stake in shares of Centene Corp (NYSE:CNC) by 2.1% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,414 shares of the company’s stock after purchasing an additional 605 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Centene were worth $4,259,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Tavio Capital LLC acquired a new stake in Centene in the second quarter valued at approximately $20,773,000. Sentry Investment Management LLC acquired a new stake in Centene in the second quarter valued at approximately $1,679,000. Commonwealth Bank of Australia lifted its stake in Centene by 16.3% in the second quarter. Commonwealth Bank of Australia now owns 18,178 shares of the company’s stock valued at $2,234,000 after acquiring an additional 2,554 shares during the last quarter. DNB Asset Management AS lifted its stake in Centene by 11.5% in the third quarter. DNB Asset Management AS now owns 25,309 shares of the company’s stock valued at $3,664,000 after acquiring an additional 2,609 shares during the last quarter. Finally, Greenleaf Trust acquired a new stake in Centene in the second quarter valued at approximately $301,000. Hedge funds and other institutional investors own 89.98% of the company’s stock.
A number of analysts have issued reports on the stock. Credit Suisse Group lifted their target price on shares of Centene from $134.00 to $152.00 and gave the company a “neutral” rating in a research note on Tuesday, September 4th. Morgan Stanley lifted their target price on shares of Centene from $138.00 to $175.00 and gave the company an “overweight” rating in a research note on Wednesday, September 5th. Oppenheimer lifted their target price on shares of Centene from $146.00 to $158.00 and gave the company an “outperform” rating in a research note on Tuesday, October 2nd. MED lifted their target price on shares of Centene from $146.00 to $158.00 and gave the company an “outperform” rating in a research note on Tuesday, October 2nd. Finally, Zacks Investment Research upgraded shares of Centene from a “sell” rating to a “hold” rating in a research note on Thursday, October 4th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Centene currently has a consensus rating of “Buy” and a consensus target price of $151.67.
Shares of Centene stock opened at $129.31 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.59. Centene Corp has a 1-year low of $90.07 and a 1-year high of $148.24. The firm has a market capitalization of $26.76 billion, a PE ratio of 19.36, a PEG ratio of 1.23 and a beta of 1.05.
Centene (NYSE:CNC) last issued its quarterly earnings data on Tuesday, October 23rd. The company reported $1.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.77 by $0.02. Centene had a net margin of 1.58% and a return on equity of 14.42%. The business had revenue of $16.18 billion during the quarter, compared to analysts’ expectations of $15.93 billion. During the same period in the previous year, the company earned $1.35 earnings per share. Centene’s revenue for the quarter was up 36.0% on a year-over-year basis. As a group, analysts anticipate that Centene Corp will post 7.05 EPS for the current year.
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. It operates through two segments, Managed Care and Specialty Services. The Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term care, foster care, and dual eligible individual, as well as aged, blind, or disabled programs.
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