Legacy Financial Advisors Inc. Buys New Shares in Centene Corporation $CNC

Legacy Financial Advisors Inc. purchased a new stake in shares of Centene Corporation (NYSE:CNC) in the 4th quarter, Holdings Channel reports. The fund purchased 11,594 shares of the company’s stock, valued at approximately $477,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. UniSuper Management Pty Ltd boosted its position in Centene by 66.0% during the third quarter. UniSuper Management Pty Ltd now owns 85,232 shares of the company’s stock worth $3,041,000 after purchasing an additional 33,875 shares during the period. Oracle Investment Management Inc. acquired a new stake in shares of Centene during the 3rd quarter worth about $3,936,000. Packer & Co Ltd bought a new stake in shares of Centene during the 3rd quarter worth about $50,487,000. First Citizens Bank & Trust Co. raised its holdings in Centene by 122.5% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 223,157 shares of the company’s stock valued at $7,962,000 after acquiring an additional 122,870 shares during the period. Finally, ARGA Investment Management LP acquired a new stake in Centene during the third quarter worth approximately $21,485,000. Institutional investors own 93.63% of the company’s stock.

Analyst Ratings Changes

CNC has been the topic of several research reports. Truist Financial upped their target price on Centene from $49.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Oppenheimer restated an “outperform” rating and issued a $58.00 price target (up from $45.00) on shares of Centene in a research note on Wednesday, April 29th. JPMorgan Chase & Co. upped their price objective on Centene from $41.00 to $52.00 and gave the company a “neutral” rating in a report on Tuesday, May 5th. Wells Fargo & Company lifted their target price on Centene from $44.00 to $56.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. Finally, Mizuho upped their price target on shares of Centene from $41.00 to $50.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $53.82.

Centene Trading Down 1.0%

Shares of CNC stock opened at $58.71 on Thursday. The stock has a market cap of $28.99 billion, a P/E ratio of -4.47, a price-to-earnings-growth ratio of 1.15 and a beta of 1.06. Centene Corporation has a 1 year low of $25.08 and a 1 year high of $62.21. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.76. The stock has a 50 day simple moving average of $40.70 and a 200 day simple moving average of $40.51.

Centene (NYSE:CNC) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $3.37 earnings per share for the quarter, beating the consensus estimate of $2.23 by $1.14. The firm had revenue of $49.94 billion during the quarter, compared to analysts’ expectations of $47.53 billion. Centene had a positive return on equity of 5.57% and a negative net margin of 3.25%.The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.90 EPS. On average, research analysts predict that Centene Corporation will post 3.45 earnings per share for the current fiscal year.

Centene Company Profile

Centene Corporation (NYSE: CNC) is a diversified, multi-national healthcare enterprise that specializes in providing services to government-sponsored and national health programs. The company primarily acts as a managed care organization, delivering healthcare coverage and administering benefits for Medicaid, the Children’s Health Insurance Program (CHIP), Medicare Advantage, and individual marketplace plans. Centene also contracts with federal and state agencies to manage specialty care programs and community-based services for vulnerable populations.

Centene’s offerings extend beyond traditional insurance to include a range of specialty and support services.