Radnor Capital Management LLC Lowers Stock Holdings in Centene Co. (NYSE:CNC)

Radnor Capital Management LLC lowered its holdings in Centene Co. (NYSE:CNC) by 8.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,900 shares of the company’s stock after selling 900 shares during the quarter. Radnor Capital Management LLC’s holdings in Centene were worth $601,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Davis Capital Management raised its holdings in shares of Centene by 7.4% in the 1st quarter. Davis Capital Management now owns 18,448 shares of the company’s stock valued at $1,120,000 after purchasing an additional 1,264 shares in the last quarter. Intellectus Partners LLC raised its holdings in shares of Centene by 38.6% in the 1st quarter. Intellectus Partners LLC now owns 10,012 shares of the company’s stock valued at $608,000 after purchasing an additional 2,788 shares in the last quarter. Portside Wealth Group LLC raised its holdings in shares of Centene by 49.0% in the 1st quarter. Portside Wealth Group LLC now owns 14,487 shares of the company’s stock valued at $878,000 after purchasing an additional 4,767 shares in the last quarter. Sendero Wealth Management LLC raised its holdings in shares of Centene by 5.7% in the 1st quarter. Sendero Wealth Management LLC now owns 86,014 shares of the company’s stock valued at $5,222,000 after purchasing an additional 4,666 shares in the last quarter. Finally, Sentry Investment Management LLC bought a new position in shares of Centene during the 1st quarter worth approximately $97,000. Institutional investors own 93.63% of the company’s stock.

Analyst Upgrades and Downgrades

CNC has been the subject of several recent analyst reports. Barclays reiterated an “equal weight” rating and set a $65.00 price objective (down previously from $84.00) on shares of Centene in a research note on Monday, June 2nd. Wells Fargo & Company reduced their price objective on shares of Centene from $76.00 to $72.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. Wall Street Zen lowered shares of Centene from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 28th. Guggenheim reiterated a “neutral” rating on shares of Centene in a research note on Tuesday, April 29th. Finally, Robert W. Baird reduced their price objective on shares of Centene from $71.00 to $69.00 and set a “neutral” rating for the company in a research note on Tuesday, April 15th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Centene currently has an average rating of “Moderate Buy” and an average target price of $78.31.

Centene Trading Up 0.6%

Shares of Centene stock opened at $55.16 on Friday. The firm’s 50 day simple moving average is $59.96 and its two-hundred day simple moving average is $60.09. The firm has a market capitalization of $27.45 billion, a price-to-earnings ratio of 8.84, a PEG ratio of 0.80 and a beta of 0.45. 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 12-month low of $54.01 and a 12-month high of $80.59.

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

Centene Company 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.