Romano Brothers AND Company Sells 490 Shares of Centene Co. (NYSE:CNC)

Romano Brothers AND Company reduced its stake in Centene Co. (NYSE:CNC) by 0.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,755 shares of the company’s stock after selling 490 shares during the quarter. Romano Brothers AND Company’s holdings in Centene were worth $4,649,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CNC. Park Place Capital Corp grew its stake in shares of Centene by 1,190.0% in the third quarter. Park Place Capital Corp now owns 387 shares of the company’s stock worth $29,000 after acquiring an additional 357 shares during the last quarter. WR Wealth Planners LLC increased its stake in Centene by 41.4% during the 2nd quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock valued at $31,000 after purchasing an additional 137 shares in the last quarter. Chris Bulman Inc purchased a new position in Centene in the second quarter worth about $33,000. Riverview Trust Co lifted its stake in shares of Centene by 154.6% in the second quarter. Riverview Trust Co now owns 527 shares of the company’s stock worth $35,000 after buying an additional 320 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Centene during the second quarter valued at approximately $36,000. Institutional investors own 93.63% of the company’s stock.

Centene Stock Down 2.0 %

Shares of CNC opened at $59.82 on Thursday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.17 and a quick ratio of 1.17. The stock has a market capitalization of $31.92 billion, a price-to-earnings ratio of 11.89, a price-to-earnings-growth ratio of 0.98 and a beta of 0.48. Centene Co. has a 1 year low of $59.77 and a 1 year high of $81.42. The business’s 50 day simple moving average is $73.50 and its 200-day simple moving average is $72.45.

Centene (NYSE:CNC) last released its quarterly earnings data on Friday, July 26th. The company reported $2.42 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.02). Centene had a net margin of 1.79% and a return on equity of 14.45%. The business had revenue of $39.84 billion for the quarter, compared to the consensus estimate of $36.83 billion. During the same quarter last year, the business earned $2.10 EPS. Centene’s revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, equities analysts expect that Centene Co. will post 6.8 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Centene from $82.00 to $87.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Oppenheimer decreased their target price on Centene from $110.00 to $95.00 and set an “outperform” rating for the company in a research report on Monday, July 29th. Jefferies Financial Group downgraded Centene from a “buy” rating to a “hold” rating and lowered their target price for the company from $83.00 to $69.00 in a report on Wednesday, July 24th. Truist Financial reduced their price target on shares of Centene from $92.00 to $89.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Finally, Stephens reiterated an “equal weight” rating and issued a $78.00 price objective on shares of Centene in a research note on Monday, August 5th. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Centene has a consensus rating of “Moderate Buy” and a consensus target price of $85.58.

About Centene

Centene Corporation operates as a healthcare enterprise that provides programs and services to under-insured and uninsured families, commercial organizations, and military families in the United States. The company operates through Medicaid, Medicare, Commercial, and Other segments. The Medicaid segment offers health plan coverage, including medicaid expansion, aged, blind, disabled, children’s health insurance program, foster care, medicare-medicaid plans, long-term services and support.