Intech Investment Management LLC Has $1.65 Million Stock Holdings in Centene Corporation $CNC

Intech Investment Management LLC lessened its holdings in Centene Corporation (NYSE:CNC) by 73.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 40,066 shares of the company’s stock after selling 110,992 shares during the quarter. Intech Investment Management LLC’s holdings in Centene were worth $1,649,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Prime Capital Investment Advisors LLC boosted its holdings in shares of Centene by 5.7% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 5,975 shares of the company’s stock valued at $246,000 after purchasing an additional 324 shares in the last quarter. Burney Co. boosted its holdings in shares of Centene by 3.8% during the 4th quarter. Burney Co. now owns 9,053 shares of the company’s stock valued at $373,000 after acquiring an additional 331 shares in the last quarter. Sapient Capital LLC boosted its holdings in shares of Centene by 4.0% during the 4th quarter. Sapient Capital LLC now owns 9,442 shares of the company’s stock valued at $389,000 after acquiring an additional 359 shares in the last quarter. Snowden Capital Advisors LLC boosted its holdings in shares of Centene by 8.0% during the 2nd quarter. Snowden Capital Advisors LLC now owns 5,073 shares of the company’s stock valued at $275,000 after acquiring an additional 374 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Centene by 15.8% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,785 shares of the company’s stock valued at $115,000 after acquiring an additional 379 shares in the last quarter. Institutional investors and hedge funds own 93.63% of the company’s stock.

Centene Stock Performance

CNC stock opened at $62.69 on Friday. The stock has a 50-day moving average price of $47.61 and a 200-day moving average price of $43.18. Centene Corporation has a 1-year low of $25.08 and a 1-year high of $63.50. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.76. The firm has a market cap of $30.96 billion, a PE ratio of -4.77, a price-to-earnings-growth ratio of 0.47 and a beta of 1.09.

Centene (NYSE:CNC) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $3.37 earnings per share for the quarter, topping 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 firm had revenue of $49.94 billion during the quarter, compared to analyst estimates of $47.53 billion. During the same period last year, the company posted $2.90 EPS. The business’s quarterly revenue was up 7.1% on a year-over-year basis. As a group, equities research analysts expect that Centene Corporation will post 3.45 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Truist Financial raised their price objective on Centene from $58.00 to $71.00 and gave the company a “buy” rating in a report on Monday. Morgan Stanley raised their price objective on Centene from $50.00 to $57.00 and gave the company an “equal weight” rating in a report on Thursday. Cantor Fitzgerald raised Centene from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $41.00 to $60.00 in a report on Tuesday, April 28th. TD Cowen reissued a “hold” rating and set a $47.00 price objective (up from $38.00) on shares of Centene in a report on Monday, May 4th. Finally, Wells Fargo & Company raised their price objective on Centene from $44.00 to $56.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $59.47.

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.