Raymond James & Associates Increases Stake in Centene Corp (CNC)

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Raymond James & Associates grew its position in Centene Corp (NYSE:CNC) by 123.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 266,401 shares of the company’s stock after acquiring an additional 147,204 shares during the period. Raymond James & Associates’ holdings in Centene were worth $14,146,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Huntington National Bank raised its position in Centene by 110.7% during the 1st quarter. Huntington National Bank now owns 472 shares of the company’s stock worth $25,000 after purchasing an additional 248 shares during the last quarter. Toth Financial Advisory Corp raised its position in Centene by 100.0% during the 1st quarter. Toth Financial Advisory Corp now owns 480 shares of the company’s stock worth $25,000 after purchasing an additional 240 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in Centene during the 1st quarter worth $27,000. Shamrock Asset Management LLC raised its position in Centene by 100.0% during the 1st quarter. Shamrock Asset Management LLC now owns 522 shares of the company’s stock worth $28,000 after purchasing an additional 261 shares during the last quarter. Finally, Lindbrook Capital LLC bought a new position in Centene during the 4th quarter worth $31,000. Institutional investors own 64.80% of the company’s stock.

Several research analysts recently issued reports on the company. ValuEngine lowered Centene from a “sell” rating to a “strong sell” rating in a research report on Thursday, May 2nd. SunTrust Banks decreased their price target on Centene to $80.00 and set a “buy” rating for the company in a report on Wednesday, April 24th. Citigroup upgraded Centene from a “neutral” rating to a “buy” rating and set a $69.00 price target for the company in a report on Friday, May 10th. Oppenheimer decreased their price target on Centene from $165.00 to $83.00 and set an “outperform” rating for the company in a report on Wednesday, February 6th. Finally, Zacks Investment Research upgraded Centene from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a report on Thursday, May 16th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $75.80.

CNC stock opened at $55.42 on Friday. The stock has a market cap of $23.46 billion, a price-to-earnings ratio of 15.66, a P/E/G ratio of 0.97 and a beta of 1.21. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04. Centene Corp has a 52-week low of $45.44 and a 52-week high of $74.49.

Centene (NYSE:CNC) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.07. The business had revenue of $18.44 billion during the quarter, compared to the consensus estimate of $17.44 billion. Centene had a return on equity of 14.60% and a net margin of 1.66%. The company’s quarterly revenue was up 39.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.17 EPS. On average, analysts forecast that Centene Corp will post 4.38 EPS for the current year.

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About Centene

Centene Corporation operates as a diversified and multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. The company's Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term services and support, foster care, and medicare-medicaid plans, which covers dually eligible individuals, as well as aged, blind, or disabled programs.

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Institutional Ownership by Quarter for Centene (NYSE:CNC)

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