Centene Corporation $CNC Position Increased by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S raised its stake in Centene Corporation (NYSE:CNC) by 161.7% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 43,151 shares of the company’s stock after acquiring an additional 26,664 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Centene were worth $1,413,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CNC. DV Equities LLC purchased a new stake in Centene during the fourth quarter valued at about $26,000. IFC & Insurance Marketing Inc. acquired a new stake in Centene during the 4th quarter valued at $28,000. SBI Securities Co. Ltd. lifted its holdings in shares of Centene by 118.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 749 shares of the company’s stock valued at $31,000 after purchasing an additional 406 shares in the last quarter. Bayban acquired a new stake in shares of Centene in the fourth quarter worth $33,000. Finally, MV Capital Management Inc. purchased a new stake in Centene in the 4th quarter worth about $34,000. 93.63% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Bank of America boosted their target price on Centene from $72.00 to $74.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. JPMorgan Chase & Co. boosted their target price on shares of Centene from $52.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, June 8th. Jefferies Financial Group raised their target price on Centene from $39.00 to $48.00 and gave the stock a “hold” rating in a research report on Wednesday, April 29th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Centene in a research report on Thursday, June 11th. Finally, Wall Street Zen upgraded Centene from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Centene currently has an average rating of “Hold” and an average target price of $60.78.

Centene Trading Down 0.4%

Shares of NYSE:CNC opened at $62.90 on Thursday. The company’s 50-day moving average price is $55.55 and its two-hundred day moving average price is $45.67. Centene Corporation has a one year low of $25.08 and a one year high of $66.55. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market capitalization of $31.06 billion, a PE ratio of -4.79, a price-to-earnings-growth ratio of 0.49 and a beta of 1.09.

Centene (NYSE:CNC) last released its earnings results on Tuesday, April 28th. The company reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $1.14. The business had revenue of $49.94 billion for the quarter, compared to analyst estimates of $47.53 billion. Centene had a positive return on equity of 5.57% and a negative net margin of 3.25%.Centene’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.90 earnings per share. On average, equities analysts forecast that Centene Corporation will post 3.45 EPS for the current fiscal year.

Centene Profile

Centene Corporation (NYSE: CNC) is a diversified, multi-national healthcare enterprise that specializes in providing services to government-sponsored and national health programs. The company primarily acts as a managed care organization, delivering healthcare coverage and administering benefits for Medicaid, the Children’s Health Insurance Program (CHIP), Medicare Advantage, and individual marketplace plans. Centene also contracts with federal and state agencies to manage specialty care programs and community-based services for vulnerable populations.

Centene’s offerings extend beyond traditional insurance to include a range of specialty and support services.