Centene Corporation $CNC Stock Bought by Parkway Wealth Management Group LLC

Parkway Wealth Management Group LLC raised its stake in Centene Corporation (NYSE:CNC) by 24.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 71,570 shares of the company’s stock after acquiring an additional 14,219 shares during the period. Parkway Wealth Management Group LLC’s holdings in Centene were worth $4,446,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Deutsche Bank AG purchased a new stake in shares of Centene during the 2nd quarter worth approximately $257,279,000. Hara Capital LLC bought a new position in shares of Centene during the 2nd quarter valued at approximately $5,222,000. Paralel Advisors LLC purchased a new position in shares of Centene in the second quarter valued at $4,531,000. Roberts Glore & Co. Inc. IL purchased a new position in shares of Centene in the second quarter valued at $1,659,000. Finally, Heartland Advisors Inc. bought a new stake in Centene in the second quarter worth $9,764,000. 93.63% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Centene news, General Counsel Christopher Koster sold 56,500 shares of Centene stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $66.90, for a total transaction of $3,779,850.00. Following the completion of the sale, the general counsel directly owned 248,854 shares of the company’s stock, valued at $16,648,332.60. The trade was a 18.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.37% of the stock is owned by insiders.

Centene Trading Down 0.8%

CNC stock opened at $68.59 on Tuesday. Centene Corporation has a 12 month low of $31.63 and a 12 month high of $71.21. The firm’s 50-day moving average is $65.46 and its 200 day moving average is $60.12. The company has a market capitalization of $33.88 billion, a PE ratio of -6.57, a P/E/G ratio of 0.44 and a beta of 1.13. 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 (NYSE:CNC) last announced its quarterly earnings data on Monday, July 27th. The company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $1.42. The company had revenue of $53.58 billion during the quarter, compared to analyst estimates 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 for the quarter was up 9.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.16) EPS. On average, research analysts anticipate that Centene Corporation will post 4.89 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CNC. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $79.00 price target (up from $68.00) on shares of Centene in a research note on Monday, August 3rd. TD Cowen reiterated a “hold” rating and set a $65.00 price objective (up from $47.00) on shares of Centene in a research report on Tuesday, July 14th. Truist Financial lifted their price objective on shares of Centene from $71.00 to $78.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. JPMorgan Chase & Co. lifted their price objective on shares of Centene from $60.00 to $67.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 4th. Finally, Weiss Ratings upgraded shares of Centene from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, October 8th. Nine investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $70.05.

About Centene

Centene Corporation is a diversified healthcare enterprise that provides government-sponsored and commercial health insurance programs and related healthcare services. The company’s offerings are primarily focused on Medicaid, Medicare, and health insurance marketplace plans, with an emphasis on serving individuals and families who may have limited access to traditional healthcare coverage.

Centene operates Medicaid health plans through state-based contracts and offers Medicare Advantage, Medicare prescription drug, and Medicare Supplement products through its Wellcare brand.