Traub Capital Management LLC Purchases Shares of 3,922 Centene Corporation $CNC

Traub Capital Management LLC acquired a new position in shares of Centene Corporation (NYSE:CNC) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,922 shares of the company’s stock, valued at approximately $213,000.

Several other institutional investors also recently modified their holdings of the company. Quarry LP acquired a new position in shares of Centene in the first quarter valued at $26,000. Assetmark Inc. raised its stake in shares of Centene by 248.2% in the 2nd quarter. Assetmark Inc. now owns 1,156 shares of the company’s stock valued at $63,000 after buying an additional 824 shares in the last quarter. GHP Investment Advisors Inc. lifted its holdings in shares of Centene by 265.8% during the 2nd quarter. GHP Investment Advisors Inc. now owns 1,178 shares of the company’s stock worth $64,000 after acquiring an additional 856 shares during the period. Atlantic Union Bankshares Corp bought a new stake in Centene in the second quarter valued at about $76,000. Finally, Trust Co. of Toledo NA OH acquired a new position in Centene in the second quarter worth about $77,000. Institutional investors and hedge funds own 93.63% of the company’s stock.

Centene Stock Performance

Shares of Centene stock opened at $36.98 on Wednesday. The firm has a 50 day simple moving average of $35.26 and a 200 day simple moving average of $39.43. Centene Corporation has a fifty-two week low of $25.08 and a fifty-two week high of $66.81. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.08 and a quick ratio of 1.10. The firm has a market cap of $18.18 billion, a P/E ratio of -3.42, a P/E/G ratio of 1.24 and a beta of 0.49.

Centene (NYSE:CNC) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.71. Centene had a positive return on equity of 7.82% and a negative net margin of 2.85%.The firm had revenue of $49.69 billion for the quarter, compared to analyst estimates of $47.50 billion. During the same period last year, the company earned $1.62 EPS. The business’s quarterly revenue was up 18.2% compared to the same quarter last year. Sell-side analysts predict that Centene Corporation will post 6.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Robert W. Baird decreased their price objective on Centene from $68.00 to $28.00 and set a “neutral” rating on the stock in a report on Friday, July 25th. Oppenheimer reiterated an “outperform” rating and set a $45.00 price objective on shares of Centene in a research note on Thursday, October 30th. TD Cowen upped their target price on shares of Centene from $30.00 to $34.00 and gave the stock a “hold” rating in a report on Friday, October 31st. Weiss Ratings reissued a “sell (d)” rating on shares of Centene in a report on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Centene from $24.00 to $32.00 in a research note on Friday, October 31st. Three research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Centene currently has an average rating of “Hold” and an average price target of $39.47.

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.