Calamos Wealth Management LLC Purchases New Position in Centene Corporation $CNC

Calamos Wealth Management LLC acquired a new stake in shares of Centene Corporation (NYSE:CNC) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 10,312 shares of the company’s stock, valued at approximately $338,000.

Several other large investors have also recently bought and sold shares of CNC. Oracle Investment Management Inc. acquired a new stake in Centene during the 3rd quarter worth $3,936,000. Daytona Street Capital LLC acquired a new position in Centene in the fourth quarter valued at about $2,566,000. AIA Group Ltd increased its holdings in shares of Centene by 102.5% in the third quarter. AIA Group Ltd now owns 127,367 shares of the company’s stock worth $4,544,000 after acquiring an additional 64,475 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Centene by 29.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,878,973 shares of the company’s stock worth $77,320,000 after purchasing an additional 428,503 shares during the period. Finally, Chicago Partners Investment Group LLC increased its stake in Centene by 114.1% during the 4th quarter. Chicago Partners Investment Group LLC now owns 45,798 shares of the company’s stock worth $1,885,000 after purchasing an additional 24,411 shares in the last quarter. Institutional investors own 93.63% of the company’s stock.

Centene Price Performance

NYSE CNC opened at $66.74 on Thursday. The firm’s 50 day moving average is $62.37 and its 200-day moving average is $48.56. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $32.96 billion, a PE ratio of -5.08, a price-to-earnings-growth ratio of 0.54 and a beta of 1.07. Centene Corporation has a 12-month low of $25.08 and a 12-month high of $69.36.

Centene (NYSE:CNC) last announced its earnings results on Tuesday, April 28th. The company reported $3.37 EPS for the quarter, topping the consensus estimate of $2.23 by $1.14. The business had revenue of $49.94 billion during the quarter, compared to analysts’ expectations of $47.53 billion. Centene had a negative net margin of 3.25% and a positive return on equity of 5.57%. The firm’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.90 earnings per share. Equities research analysts anticipate that Centene Corporation will post 3.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CNC shares. Royal Bank Of Canada lifted their price target on shares of Centene from $70.00 to $71.00 and gave the company a “sector perform” rating in a research note on Thursday, July 9th. Deutsche Bank Aktiengesellschaft raised shares of Centene from a “hold” rating to a “buy” rating and increased their price objective for the stock from $53.00 to $80.00 in a research report on Wednesday, May 20th. Robert W. Baird boosted their price objective 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. Raymond James Financial set a $75.00 target price on shares of Centene in a research note on Tuesday, July 7th. Finally, Oppenheimer lifted their price target on Centene from $58.00 to $67.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Seven equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $64.61.

About Centene

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.