Rhenman & Partners Asset Management AB Boosts Stake in Centene Co. (NYSE:CNC)

Rhenman & Partners Asset Management AB grew its position in Centene Co. (NYSE:CNC) by 67.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 195,482 shares of the company’s stock after buying an additional 78,500 shares during the quarter. Rhenman & Partners Asset Management AB’s holdings in Centene were worth $11,842,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Capital Advisors Ltd. LLC boosted its holdings in Centene by 75.3% in the 4th quarter. Capital Advisors Ltd. LLC now owns 412 shares of the company’s stock valued at $25,000 after purchasing an additional 177 shares in the last quarter. Rialto Wealth Management LLC purchased a new stake in shares of Centene during the fourth quarter worth about $30,000. OFI Invest Asset Management purchased a new position in shares of Centene during the fourth quarter valued at approximately $33,000. SRS Capital Advisors Inc. boosted its position in Centene by 73.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 631 shares of the company’s stock worth $38,000 after acquiring an additional 267 shares during the last quarter. Finally, Riverview Trust Co boosted its position in shares of Centene by 172.7% in the fourth quarter. Riverview Trust Co now owns 758 shares of the company’s stock worth $46,000 after acquiring an additional 480 shares during the last quarter. Institutional investors and hedge funds own 93.63% of the company’s stock.

Centene Stock Performance

NYSE:CNC opened at $62.13 on Friday. The firm has a market capitalization of $30.82 billion, a PE ratio of 9.96, a price-to-earnings-growth ratio of 0.80 and a beta of 0.40. The company has a quick ratio of 1.10, a current ratio of 1.11 and a debt-to-equity ratio of 0.70. Centene Co. has a twelve month low of $55.03 and a twelve month high of $80.59. The stock’s 50-day simple moving average is $59.72 and its 200 day simple moving average is $62.35.

Centene (NYSE:CNC) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.31. Centene had a net margin of 2.03% and a return on equity of 13.85%. The company had revenue of $40.81 billion for the quarter, compared to analyst estimates of $38.78 billion. During the same quarter in the previous year, the business earned $0.45 earnings per share. Centene’s revenue was up 3.4% compared to the same quarter last year. On average, analysts anticipate that Centene Co. will post 6.86 EPS for the current fiscal year.

Analysts Set New Price Targets

CNC has been the subject of a number of research reports. Robert W. Baird lifted their price target on Centene from $66.00 to $71.00 in a research note on Tuesday, February 4th. Truist Financial decreased their price objective on shares of Centene from $89.00 to $84.00 and set a “buy” rating for the company in a report on Friday, December 13th. Barclays raised their target price on shares of Centene from $91.00 to $93.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. UBS Group raised Centene from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $79.00 to $80.00 in a research note on Friday, December 13th. Finally, Jefferies Financial Group lowered Centene from a “hold” rating to an “underperform” rating and dropped their price target for the company from $68.00 to $52.00 in a research report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Centene currently has an average rating of “Moderate Buy” and an average price target of $79.92.

Centene Profile

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.