Callan Family Office LLC Makes New Investment in Centene Corporation $CNC

Callan Family Office LLC purchased a new stake in Centene Corporation (NYSE:CNC) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 18,057 shares of the company’s stock, valued at approximately $1,159,000.

Several other large investors have also modified their holdings of CNC. Vanguard Group Inc. raised its position in shares of Centene by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 56,978,753 shares of the company’s stock worth $2,344,676,000 after purchasing an additional 190,334 shares during the period. BlackRock Inc. acquired a new position in shares of Centene in the 2nd quarter valued at $2,660,422,000. AQR Capital Management LLC increased its stake in Centene by 117.0% in the 4th quarter. AQR Capital Management LLC now owns 31,798,738 shares of the company’s stock worth $1,308,518,000 after purchasing an additional 17,143,904 shares in the last quarter. Geode Capital Management LLC raised its holdings in Centene by 5.5% during the 4th quarter. Geode Capital Management LLC now owns 13,271,492 shares of the company’s stock worth $554,338,000 after buying an additional 697,277 shares during the period. Finally, Deerfield Management Company L.P. lifted its stake in Centene by 184.0% during the third quarter. Deerfield Management Company L.P. now owns 9,046,000 shares of the company’s stock valued at $322,761,000 after buying an additional 5,860,630 shares in the last quarter. 93.63% of the stock is owned by institutional investors.

Centene Price Performance

NYSE CNC opened at $65.64 on Tuesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.15 and a quick ratio of 1.15. The firm has a market capitalization of $32.43 billion, a price-to-earnings ratio of -6.29, a price-to-earnings-growth ratio of 0.35 and a beta of 1.08. The company has a 50 day simple moving average of $65.00 and a 200-day simple moving average of $52.63. Centene Corporation has a 52-week low of $28.24 and a 52-week high of $69.36.

Centene (NYSE:CNC) last announced its quarterly earnings data on Monday, July 27th. The company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $1.42. The firm had revenue of $53.58 billion for the quarter, compared to the consensus estimate of $47.64 billion. Centene had a negative net margin of 2.51% and a positive return on equity of 12.12%. The firm’s revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.16) earnings per share. Equities research analysts predict that Centene Corporation will post 4.89 earnings per share for the current fiscal year.

Insider Activity at Centene

In other news, General Counsel Christopher Koster sold 47,603 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $65.36, for a total transaction of $3,111,332.08. Following the transaction, the general counsel directly owned 305,354 shares in the company, valued at $19,957,937.44. The trade was a 13.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.37% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Zacks Research upgraded shares of Centene from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 29th. Robert W. Baird upped their price target on shares of Centene from $46.00 to $66.00 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. Raymond James Financial set a $75.00 price objective on shares of Centene in a research report on Tuesday, July 7th. Bank of America boosted their target price on shares of Centene from $72.00 to $74.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. Finally, Wall Street Zen upgraded Centene from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Centene presently has an average rating of “Hold” and a consensus 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.