Osmosis Investment Management UK Ltd Takes $721,000 Position in Centene Corporation $CNC

Osmosis Investment Management UK Ltd purchased a new position in Centene Corporation (NYSE:CNC) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 11,225 shares of the company’s stock, valued at approximately $721,000.

A number of other hedge funds also recently bought and sold shares of the company. DV Equities LLC acquired a new stake in shares of Centene during the fourth quarter valued at approximately $26,000. IFC & Insurance Marketing Inc. acquired a new position in Centene in the 4th quarter worth approximately $28,000. SBI Securities Co. Ltd. grew its position in Centene by 118.4% during 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 in the last quarter. MidFirst Bank acquired a new stake in Centene during the 2nd quarter valued at $32,000. Finally, Bayban purchased a new stake in shares of Centene in the fourth quarter valued at $33,000. 93.63% of the stock is owned by hedge funds and other institutional investors.

Centene Stock Performance

Shares of NYSE CNC opened at $64.92 on Wednesday. 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 one year low of $28.24 and a one year high of $69.36. The business’s 50-day moving average price is $65.08 and its two-hundred day moving average price is $52.80. The company has a market capitalization of $32.07 billion, a P/E ratio of -6.22, a price-to-earnings-growth ratio of 0.35 and a beta of 1.08.

Centene (NYSE:CNC) last posted its quarterly earnings results on Monday, July 27th. The company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $1.42. The company had revenue of $53.58 billion during 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%.The business’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period last year, the business earned ($0.16) EPS. Analysts anticipate that Centene Corporation will post 4.89 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CNC. Argus upgraded Centene from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a report on Tuesday, August 11th. Oppenheimer raised their price objective on Centene from $58.00 to $67.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. TD Cowen reaffirmed a “hold” rating and set a $65.00 target price (up from $47.00) on shares of Centene in a research note on Tuesday, July 14th. Jefferies Financial Group increased their price target on shares of Centene from $39.00 to $48.00 and gave the stock a “hold” rating in a research report on Wednesday, April 29th. Finally, Barclays restated an “overweight” rating and set a $80.00 price target (up from $75.00) on shares of Centene in a report on Wednesday, July 29th. One 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 company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $70.05.

Insider Buying and Selling

In other news, General Counsel Christopher Koster sold 47,603 shares of the 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 owned 305,354 shares in the company, valued at $19,957,937.44. This represents a 13.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.37% of the stock is owned by corporate insiders.

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.