MASTERINVEST Kapitalanlage GmbH Invests $2.87 Million in Centene Corporation $CNC

MASTERINVEST Kapitalanlage GmbH acquired a new stake in Centene Corporation (NYSE:CNC) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 44,692 shares of the company’s stock, valued at approximately $2,869,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. DV Equities LLC bought a new position in shares of Centene during the 4th quarter valued at about $26,000. IFC & Insurance Marketing Inc. bought a new stake in Centene during the 4th quarter worth approximately $28,000. SBI Securities Co. Ltd. raised its holdings in Centene by 118.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 749 shares of the company’s stock worth $31,000 after buying an additional 406 shares during the period. MidFirst Bank bought a new position in Centene in the second quarter valued at approximately $32,000. Finally, Bayban acquired a new position in shares of Centene in the fourth quarter valued at approximately $33,000. 93.63% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. TD Cowen restated a “hold” rating and set a $65.00 price objective (up from $47.00) on shares of Centene in a report on Tuesday, July 14th. Robert W. Baird upped their target price on shares of Centene from $46.00 to $66.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 29th. Zacks Research upgraded Centene from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 29th. Wall Street Zen upgraded Centene from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 18th. Finally, Cantor Fitzgerald increased their price objective on Centene from $60.00 to $75.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $70.05.

Insider Activity

In related news, General Counsel Christopher Koster sold 56,500 shares of the company’s stock in a transaction dated 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 sale, the general counsel owned 248,854 shares in the company, valued at approximately $16,648,332.60. This represents a 18.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.37% of the company’s stock.

Centene Stock Performance

Shares of CNC opened at $65.23 on Friday. The stock has a market capitalization of $32.22 billion, a price-to-earnings ratio of -6.25, a PEG ratio of 0.35 and a beta of 1.08. Centene Corporation has a 12 month low of $28.24 and a 12 month high of $69.36. The firm has a fifty day simple moving average of $65.26 and a 200 day simple moving average of $53.16. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.71.

Centene (NYSE:CNC) last issued its quarterly earnings results 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 analyst estimates of $47.64 billion. During the same period in the previous year, the business earned ($0.16) EPS. The company’s revenue was up 9.9% compared to the same quarter last year. Research analysts forecast that Centene Corporation will post 4.89 EPS for the current fiscal year.

Centene Company 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.