Calamos Advisors LLC Has $4.02 Million Stock Holdings in Centene Corporation $CNC

Calamos Advisors LLC raised its stake in shares of Centene Corporation (NYSE:CNC) by 9.2% in the first quarter, HoldingsChannel reports. The institutional investor owned 122,805 shares of the company’s stock after purchasing an additional 10,312 shares during the period. Calamos Advisors LLC’s holdings in Centene were worth $4,021,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

Several equities research analysts recently commented on CNC shares. Raymond James Financial set a $75.00 price target on Centene in a research note on Tuesday, July 7th. Weiss Ratings reiterated a “sell (d)” rating on shares of Centene in a research note on Monday, April 20th. Oppenheimer boosted their target price on shares of Centene from $58.00 to $67.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Truist Financial raised their price target on shares of Centene from $71.00 to $78.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Robert W. Baird lifted their price objective on shares of Centene from $36.00 to $37.00 and gave the company a “neutral” rating in a research note on Wednesday, April 15th. Seven analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $64.61.

Centene Stock Down 2.9%

CNC opened at $66.74 on Thursday. The firm has a market cap of $32.96 billion, a P/E ratio of -5.08, a price-to-earnings-growth ratio of 0.54 and a beta of 1.07. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.12 and a current ratio of 1.12. The business has a 50 day moving average price of $62.37 and a 200 day moving average price of $48.56. Centene Corporation has a twelve month low of $25.08 and a twelve month high of $69.36.

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

About Centene

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.