Eurizon Capital SGR S.p.A. Takes $3.01 Million Position in Centene Corporation $CNC

Eurizon Capital SGR S.p.A. purchased a new stake in shares of Centene Corporation (NYSE:CNC) in the fourth quarter, Holdings Channel.com reports. The firm purchased 73,115 shares of the company’s stock, valued at approximately $3,009,000.

A number of other hedge funds have also recently made changes to their positions in the company. Baird Financial Group Inc. purchased a new position in Centene in the first quarter worth $236,000. Sivia Capital Partners LLC grew its position in Centene by 80.0% in the second quarter. Sivia Capital Partners LLC now owns 9,710 shares of the company’s stock worth $527,000 after acquiring an additional 4,315 shares in the last quarter. CW Advisors LLC grew its position in Centene by 20.3% in the second quarter. CW Advisors LLC now owns 4,863 shares of the company’s stock worth $264,000 after acquiring an additional 820 shares in the last quarter. NewEdge Advisors LLC grew its position in Centene by 6.1% in the second quarter. NewEdge Advisors LLC now owns 44,945 shares of the company’s stock worth $2,440,000 after acquiring an additional 2,582 shares in the last quarter. Finally, Treasurer of the State of North Carolina grew its position in Centene by 0.4% in the second quarter. Treasurer of the State of North Carolina now owns 231,938 shares of the company’s stock worth $12,590,000 after acquiring an additional 967 shares in the last quarter. 93.63% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CNC has been the subject of several research reports. Mizuho set a $58.00 target price on shares of Centene and gave the stock a “neutral” rating in a research report on Wednesday, May 20th. Wall Street Zen upgraded shares of Centene from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Truist Financial upped their price target on shares of Centene from $58.00 to $71.00 and gave the company a “buy” rating in a research report on Monday. Robert W. Baird upped their price target on shares of Centene from $36.00 to $37.00 and gave the company a “neutral” rating in a research report on Wednesday, April 15th. Finally, Zacks Research upgraded shares of Centene from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $58.94.

Centene Stock Performance

Shares of NYSE:CNC opened at $61.97 on Tuesday. The company has a market cap of $30.60 billion, a price-to-earnings ratio of -4.72, a price-to-earnings-growth ratio of 0.47 and a beta of 1.09. The company has a 50-day moving average price of $45.97 and a 200-day moving average price of $42.66. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.76. Centene Corporation has a 12 month low of $25.08 and a 12 month high of $62.10.

Centene (NYSE:CNC) last released its quarterly earnings results on Tuesday, April 28th. The company reported $3.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $1.14. Centene had a negative net margin of 3.25% and a positive return on equity of 5.57%. The company had revenue of $49.94 billion during the quarter, compared to the consensus estimate of $47.53 billion. During the same period in the prior year, the firm earned $2.90 earnings per share. Centene’s revenue was up 7.1% on a year-over-year basis. As a group, equities analysts anticipate that Centene Corporation will post 3.45 EPS for the current 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.