853,104 Shares in Centene Corporation $CNC Purchased by Jupiter Topco LLC

Jupiter Topco LLC purchased a new stake in shares of Centene Corporation (NYSE:CNC) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 853,104 shares of the company’s stock, valued at approximately $54,760,000. Jupiter Topco LLC owned about 0.17% of Centene at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. DV Equities LLC bought a new position in shares of Centene during the fourth quarter valued at approximately $26,000. IFC & Insurance Marketing Inc. bought a new stake in Centene in the fourth quarter valued at $28,000. SBI Securities Co. Ltd. increased its position in Centene by 118.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 749 shares of the company’s stock valued at $31,000 after purchasing an additional 406 shares during the period. MidFirst Bank bought a new position in Centene in the 2nd quarter worth $32,000. Finally, Bayban purchased a new stake in shares of Centene in the 4th quarter worth about $33,000. 93.63% of the stock is currently owned by institutional investors.

Centene Trading Down 0.4%

NYSE:CNC opened at $65.23 on Friday. The firm has a market capitalization of $32.22 billion, a P/E ratio of -6.25, a PEG ratio of 0.35 and a beta of 1.08. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.15 and a quick ratio of 1.15. Centene Corporation has a one year low of $28.24 and a one year high of $69.36. The company’s 50-day simple moving average is $65.26 and its 200 day simple moving average is $53.16.

Centene (NYSE:CNC) last announced its earnings results on Monday, July 27th. The company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $53.58 billion during the quarter, compared to the consensus estimate of $47.64 billion. During the same quarter last year, the firm earned ($0.16) earnings per share. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. As a group, analysts forecast that Centene Corporation will post 4.89 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CNC shares. Royal Bank Of Canada boosted their price target on shares of Centene from $70.00 to $71.00 and gave the company a “sector perform” rating in a research report on Thursday, July 9th. Cantor Fitzgerald lifted their price objective on Centene from $60.00 to $75.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Bank of America upped their target price on Centene from $72.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. Weiss Ratings restated a “sell (d)” rating on shares of Centene in a research note on Friday, July 17th. Finally, Truist Financial lifted their price target on Centene from $71.00 to $78.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. One investment 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 issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $70.05.

Insiders Place Their Bets

In other Centene news, General Counsel Christopher Koster sold 56,500 shares of Centene stock in a transaction on 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 completion of the transaction, the general counsel owned 248,854 shares in the company, valued at approximately $16,648,332.60. The trade was a 18.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.37% of the stock is currently owned by company insiders.

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.