Centene Co. (NYSE:CNC) Shares Sold by Covestor Ltd

Covestor Ltd lessened its position in shares of Centene Co. (NYSE:CNC) by 19.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,040 shares of the company’s stock after selling 493 shares during the quarter. Covestor Ltd’s holdings in Centene were worth $123,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Stratos Wealth Partners LTD. raised its holdings in shares of Centene by 4.1% in the 4th quarter. Stratos Wealth Partners LTD. now owns 4,094 shares of the company’s stock valued at $248,000 after purchasing an additional 163 shares in the last quarter. Capital Advisors Ltd. LLC grew its position in Centene by 75.3% during the 4th quarter. Capital Advisors Ltd. LLC now owns 412 shares of the company’s stock worth $25,000 after purchasing an additional 177 shares during the last quarter. Private Trust Co. NA raised its stake in Centene by 23.7% during the 4th quarter. Private Trust Co. NA now owns 956 shares of the company’s stock valued at $58,000 after acquiring an additional 183 shares during the last quarter. Howard Capital Management Inc. grew its position in Centene by 5.4% in the 4th quarter. Howard Capital Management Inc. now owns 3,591 shares of the company’s stock valued at $218,000 after buying an additional 184 shares during the last quarter. Finally, Intellectus Partners LLC raised its holdings in Centene by 2.8% during the fourth quarter. Intellectus Partners LLC now owns 7,224 shares of the company’s stock worth $438,000 after purchasing an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CNC. Stephens decreased their price target on Centene from $75.00 to $73.00 and set an “equal weight” rating on the stock in a research note on Friday, December 13th. Truist Financial dropped their price objective on shares of Centene from $89.00 to $84.00 and set a “buy” rating for the company in a research note on Friday, December 13th. Oppenheimer decreased their target price on Centene from $95.00 to $85.00 and set an “outperform” rating for the company in a report on Friday, December 13th. Wells Fargo & Company dropped their target price on Centene from $76.00 to $72.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. Finally, Argus cut shares of Centene from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $80.85.

Centene Stock Up 2.3 %

NYSE:CNC opened at $63.82 on Friday. The business’s fifty day moving average price is $59.49 and its 200 day moving average price is $61.73. The company has a current ratio of 1.11, a quick ratio of 1.10 and a debt-to-equity ratio of 0.70. Centene Co. has a 1-year low of $55.03 and a 1-year high of $80.59. The firm has a market capitalization of $31.66 billion, a price-to-earnings ratio of 10.23, a PEG ratio of 0.80 and a beta of 0.53.

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

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.