Timothy G. Youngquist 2020 Irrevocable Trust Acquires New Position in Centene Corporation $CNC

Timothy G. Youngquist 2020 Irrevocable Trust bought a new position in shares of Centene Corporation (NYSE:CNC) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 14,934 shares of the company’s stock, valued at approximately $959,000.

Several other institutional investors also recently bought and sold shares of CNC. Baird Financial Group Inc. acquired a new position in Centene in the first quarter valued at $236,000. Sivia Capital Partners LLC boosted its stake in Centene by 80.0% in the 2nd quarter. Sivia Capital Partners LLC now owns 9,710 shares of the company’s stock worth $527,000 after buying an additional 4,315 shares during the last quarter. CW Advisors LLC grew its holdings in Centene by 20.3% in the 2nd quarter. CW Advisors LLC now owns 4,863 shares of the company’s stock valued at $264,000 after buying an additional 820 shares during the period. NewEdge Advisors LLC increased its stake in shares of Centene by 6.1% during the 2nd quarter. NewEdge Advisors LLC now owns 44,945 shares of the company’s stock valued at $2,440,000 after acquiring an additional 2,582 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its holdings in shares of Centene by 0.4% during the 2nd quarter. Treasurer of the State of North Carolina now owns 231,938 shares of the company’s stock worth $12,590,000 after acquiring an additional 967 shares during the period. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Centene Price Performance

Shares of CNC stock opened at $65.29 on Wednesday. The firm has a market cap of $32.25 billion, a P/E ratio of -6.25, a P/E/G ratio of 0.36 and a beta of 1.08. The firm has a fifty day moving average of $64.96 and a two-hundred day moving average of $52.01. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.15 and a quick ratio of 1.15. Centene Corporation has a 1-year low of $28.24 and a 1-year high of $69.36.

Centene (NYSE:CNC) last released its earnings results on Monday, July 27th. The company reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $1.42. The company had revenue of $53.58 billion for the quarter, compared to the consensus estimate of $47.64 billion. Centene had a positive return on equity of 12.12% and a negative net margin of 2.51%.Centene’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.16) EPS. As a group, research analysts anticipate that Centene Corporation will post 4.89 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CNC. UBS Group set a $79.00 price objective on shares of Centene in a research note on Tuesday. Jefferies Financial Group upped their target price on shares of Centene from $39.00 to $48.00 and gave the company a “hold” rating in a research note on Wednesday, April 29th. Wall Street Zen raised shares of Centene from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 18th. Deutsche Bank Aktiengesellschaft upgraded shares of Centene from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $53.00 to $80.00 in a report on Wednesday, May 20th. Finally, Truist Financial raised their target price on Centene from $71.00 to $78.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $70.05.

Centene Company 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.