Centene Corporation $CNC Stake Raised by Kopernik Global Investors LLC

Kopernik Global Investors LLC grew its holdings in Centene Corporation (NYSE:CNC) by 24.3% during the 1st quarter, HoldingsChannel.com reports. The firm owned 2,517,106 shares of the company’s stock after buying an additional 492,054 shares during the period. Centene accounts for approximately 5.8% of Kopernik Global Investors LLC’s holdings, making the stock its 7th largest holding. Kopernik Global Investors LLC’s holdings in Centene were worth $82,410,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. First Citizens Bank & Trust Co. raised its holdings in Centene by 3.6% in the 1st quarter. First Citizens Bank & Trust Co. now owns 223,215 shares of the company’s stock valued at $7,308,000 after buying an additional 7,730 shares during the period. ABN Amro Investment Solutions increased its position in shares of Centene by 11.1% during the first quarter. ABN Amro Investment Solutions now owns 21,437 shares of the company’s stock valued at $702,000 after acquiring an additional 2,144 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Centene by 0.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 92,437 shares of the company’s stock valued at $3,026,000 after acquiring an additional 320 shares during the period. Oslo Pensjonsforsikring AS acquired a new position in shares of Centene in the 1st quarter worth approximately $190,000. Finally, Meeder Asset Management Inc. boosted its position in shares of Centene by 25.8% during the 1st quarter. Meeder Asset Management Inc. now owns 2,159 shares of the company’s stock worth $71,000 after purchasing an additional 443 shares during the period. 93.63% of the stock is owned by institutional investors and hedge funds.

Centene Stock Performance

Shares of CNC stock opened at $65.94 on Thursday. The firm has a 50 day moving average of $63.26 and a two-hundred day moving average of $49.44. The stock has a market capitalization of $32.56 billion, a PE ratio of -5.02, a P/E/G ratio of 0.53 and a beta of 1.07. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.76. Centene Corporation has a 52 week low of $25.08 and a 52 week high of $69.36.

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 analysts’ consensus estimates of $2.23 by $1.14. The business had revenue of $49.94 billion for the quarter, compared to analyst estimates of $47.53 billion. Centene had a positive return on equity of 5.57% and a negative net margin of 3.25%.The company’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.90 earnings per share. On average, research analysts predict that Centene Corporation will post 3.44 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have issued reports on CNC shares. Weiss Ratings reissued a “sell (d)” rating on shares of Centene in a research report on Friday, July 17th. The Goldman Sachs Group restated a “sell” rating and set a $40.00 price target on shares of Centene in a research report on Wednesday, April 29th. Zacks Research downgraded Centene from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Truist Financial raised their target price on Centene from $71.00 to $78.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Finally, Wall Street Zen raised Centene from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 18th. Seven research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $64.61.

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.