Wasatch Advisors LP Has $1.95 Million Stock Position in Centene Corporation $CNC

Wasatch Advisors LP raised its holdings in shares of Centene Corporation (NYSE:CNC) by 38.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 59,500 shares of the company’s stock after acquiring an additional 16,500 shares during the quarter. Wasatch Advisors LP’s holdings in Centene were worth $1,948,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Poehling Capital Management INC. boosted its holdings in shares of Centene by 0.5% in the 1st quarter. Poehling Capital Management INC. now owns 97,055 shares of the company’s stock valued at $3,178,000 after buying an additional 457 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in Centene during the first quarter worth $779,000. MBM Wealth Consultants LLC acquired a new stake in Centene in the first quarter valued at $122,000. Blue Trust Inc. grew its position in shares of Centene by 22.0% in the 1st quarter. Blue Trust Inc. now owns 10,231 shares of the company’s stock valued at $335,000 after acquiring an additional 1,842 shares during the period. Finally, Fifth Third Wealth Advisors LLC increased its stake in shares of Centene by 24.9% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 7,233 shares of the company’s stock worth $237,000 after purchasing an additional 1,443 shares during the last quarter. Institutional investors own 93.63% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Wall Street Zen upgraded Centene from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Zacks Research upgraded Centene from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 6th. Robert W. Baird lifted their target price on Centene from $36.00 to $37.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 15th. Weiss Ratings reissued a “sell (d)” rating on shares of Centene in a report on Monday, April 20th. Finally, Truist Financial raised their price target on Centene from $58.00 to $71.00 and gave the company a “buy” rating in a report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Centene has an average rating of “Hold” and a consensus price target of $60.78.

Centene Trading Up 1.4%

CNC opened at $65.69 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $32.44 billion, a price-to-earnings ratio of -5.00, a P/E/G ratio of 0.51 and a beta of 1.09. The company has a 50-day simple moving average of $56.67 and a 200 day simple moving average of $45.99. Centene Corporation has a twelve month low of $25.08 and a twelve month high of $66.55.

Centene (NYSE:CNC) last issued its earnings results on Tuesday, April 28th. The company reported $3.37 EPS for the quarter, topping the consensus estimate of $2.23 by $1.14. The firm had revenue of $49.94 billion during the quarter, compared to the consensus estimate of $47.53 billion. Centene had a positive return on equity of 5.57% and a negative net margin of 3.25%.The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.90 earnings per share. Analysts predict that Centene Corporation will post 3.45 EPS for the current fiscal year.

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.