Commerzbank Aktiengesellschaft FI Invests $1.10 Million in Centene Corporation $CNC

Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Centene Corporation (NYSE:CNC) in the 2nd quarter, HoldingsChannel reports. The firm acquired 17,113 shares of the company’s stock, valued at approximately $1,098,000.

Several other institutional investors have also recently bought and sold shares of the business. DV Equities LLC acquired a new position in shares of Centene during the fourth quarter worth $26,000. IFC & Insurance Marketing Inc. acquired a new position in shares of Centene during the fourth quarter valued at about $28,000. SBI Securities Co. Ltd. grew its holdings in Centene by 118.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 749 shares of the company’s stock worth $31,000 after buying an additional 406 shares in the last quarter. Bayban purchased a new stake in Centene in the 4th quarter valued at about $33,000. Finally, MV Capital Management Inc. bought a new stake in shares of Centene during the 4th quarter worth $34,000. Institutional investors and hedge funds own 93.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Argus raised Centene from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a report on Tuesday, August 11th. Barclays reaffirmed an “overweight” rating and set a $80.00 price objective (up from $75.00) on shares of Centene in a research note on Wednesday, July 29th. Stifel Nicolaus set a $79.00 price objective on shares of Centene in a research report on Monday, August 3rd. Cantor Fitzgerald lifted their price target on Centene from $60.00 to $75.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Finally, Raymond James Financial set a $75.00 price target on Centene in a research note on Tuesday, July 7th. One investment 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 given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $70.05.

Centene Stock Performance

Shares of NYSE CNC opened at $65.29 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. The firm has a fifty day moving average price of $64.96 and a 200-day moving average price of $52.01. The stock has a market cap of $32.25 billion, a PE ratio of -6.25, a price-to-earnings-growth ratio of 0.36 and a beta of 1.08. Centene Corporation has a 1 year low of $28.24 and a 1 year high of $69.36.

Centene (NYSE:CNC) last released its quarterly earnings data on Monday, July 27th. The company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $1.42. Centene had a negative net margin of 2.51% and a positive return on equity of 12.12%. The firm had revenue of $53.58 billion for the quarter, compared to analysts’ expectations of $47.64 billion. During the same quarter last year, the business posted ($0.16) earnings per share. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. Equities analysts anticipate that Centene Corporation will post 4.89 earnings per share for the current fiscal year.

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.