Centene Co. (NYSE:CNC) Stock Position Decreased by Polar Capital Holdings Plc

Polar Capital Holdings Plc cut its position in shares of Centene Co. (NYSE:CNC) by 30.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 182,178 shares of the company’s stock after selling 79,326 shares during the period. Polar Capital Holdings Plc’s holdings in Centene were worth $11,036,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Osborne Partners Capital Management LLC raised its stake in shares of Centene by 5.0% in the 4th quarter. Osborne Partners Capital Management LLC now owns 221,156 shares of the company’s stock valued at $13,398,000 after acquiring an additional 10,515 shares in the last quarter. Perpetual Ltd grew its holdings in shares of Centene by 68.4% during the 4th quarter. Perpetual Ltd now owns 36,126 shares of the company’s stock worth $2,189,000 after purchasing an additional 14,671 shares in the last quarter. Polianta Ltd boosted its stake in Centene by 41.7% in the 4th quarter. Polianta Ltd now owns 22,100 shares of the company’s stock valued at $1,338,000 after buying an additional 6,500 shares in the last quarter. KBC Group NV boosted its stake in Centene by 27.3% in the 4th quarter. KBC Group NV now owns 1,602,533 shares of the company’s stock valued at $97,082,000 after buying an additional 343,559 shares in the last quarter. Finally, Washington Capital Management Inc. boosted its stake in Centene by 40.9% in the 4th quarter. Washington Capital Management Inc. now owns 19,130 shares of the company’s stock valued at $1,159,000 after buying an additional 5,550 shares in the last quarter. 93.63% of the stock is owned by hedge funds and other institutional investors.

Centene Stock Up 0.9%

CNC stock opened at $60.03 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.11 and a debt-to-equity ratio of 0.70. The business has a 50 day moving average price of $60.60 and a two-hundred day moving average price of $60.45. The company has a market cap of $29.87 billion, a price-to-earnings ratio of 9.62, a P/E/G ratio of 0.80 and a beta of 0.48. Centene Co. has a twelve month low of $55.03 and a twelve month high of $80.59.

Centene (NYSE:CNC) last posted its quarterly earnings results on Friday, April 25th. The company reported $2.90 earnings per share for the quarter, beating analysts’ consensus estimates of $2.52 by $0.38. The firm had revenue of $46.62 billion during the quarter, compared to the consensus estimate of $43.16 billion. Centene had a return on equity of 13.85% and a net margin of 2.03%. The business’s revenue was up 15.4% compared to the same quarter last year. During the same period last year, the company earned $2.26 earnings per share. Analysts anticipate that Centene Co. will post 6.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CNC shares. StockNews.com downgraded Centene from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 28th. Argus lowered Centene from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Guggenheim reissued a “neutral” rating on shares of Centene in a research note on Tuesday, April 29th. Barclays lowered their price target on Centene from $93.00 to $84.00 and set an “overweight” rating for the company in a report on Monday, April 28th. Finally, Jefferies Financial Group lowered their price target on Centene from $64.00 to $61.00 and set a “hold” rating for the company in a report on Tuesday, April 29th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Centene has an average rating of “Moderate Buy” and an average price target of $79.77.

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.