Leonteq Securities AG Buys 7,895 Shares of Centene Corporation $CNC

Leonteq Securities AG lifted its stake in shares of Centene Corporation (NYSE:CNC) by 32.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 32,246 shares of the company’s stock after acquiring an additional 7,895 shares during the period. Leonteq Securities AG’s holdings in Centene were worth $1,056,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Oracle Investment Management Inc. purchased a new position in shares of Centene during the 3rd quarter valued at about $3,936,000. Capitolis Liquid Global Markets LLC boosted its stake in Centene by 451.2% in the third quarter. Capitolis Liquid Global Markets LLC now owns 181,900 shares of the company’s stock worth $6,490,000 after buying an additional 148,900 shares in the last quarter. Delta Global Management LP grew its position in Centene by 96.5% during the third quarter. Delta Global Management LP now owns 78,691 shares of the company’s stock valued at $2,808,000 after acquiring an additional 38,640 shares during the last quarter. Numerai GP LLC raised its stake in shares of Centene by 401.4% during the third quarter. Numerai GP LLC now owns 64,487 shares of the company’s stock worth $2,301,000 after acquiring an additional 51,625 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Centene by 83.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,001,316 shares of the company’s stock worth $35,628,000 after acquiring an additional 456,350 shares during the last quarter. 93.63% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CNC has been the topic of several recent research reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Centene in a report on Monday, April 20th. Raymond James Financial set a $60.00 price target on shares of Centene in a research note on Wednesday, April 29th. Sanford C. Bernstein raised their price objective on Centene from $48.00 to $68.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Royal Bank Of Canada assumed coverage on Centene in a report on Tuesday, June 23rd. They issued a “sector perform” rating and a $70.00 price objective on the stock. Finally, TD Cowen restated a “hold” rating and set a $47.00 target price (up from $38.00) on shares of Centene in a report on Monday, May 4th. Seven investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $60.78.

Centene Stock Down 0.1%

CNC stock opened at $67.80 on Friday. Centene Corporation has a fifty-two week low of $25.08 and a fifty-two week high of $69.29. The company has a market capitalization of $33.48 billion, a price-to-earnings ratio of -5.16, a price-to-earnings-growth ratio of 0.53 and a beta of 1.07. The business’s 50 day moving average price is $59.46 and its two-hundred day moving average price is $46.95. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.12 and a current ratio of 1.12.

Centene (NYSE:CNC) last released its earnings results on Tuesday, April 28th. The company reported $3.37 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $1.14. The company had revenue of $49.94 billion during the quarter, compared to analysts’ expectations of $47.53 billion. Centene had a positive return on equity of 5.57% and a negative net margin of 3.25%.The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.90 EPS. As a group, analysts forecast that Centene Corporation will post 3.44 earnings per share 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.