Sanctuary Advisors LLC Has $2.33 Million Stock Holdings in Centene Corporation $CNC

Sanctuary Advisors LLC reduced its position in Centene Corporation (NYSE:CNC) by 11.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 71,086 shares of the company’s stock after selling 9,608 shares during the period. Sanctuary Advisors LLC’s holdings in Centene were worth $2,327,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. DV Equities LLC acquired a new position in shares of Centene during the 4th quarter worth approximately $26,000. IFC & Insurance Marketing Inc. acquired a new stake in Centene during the 4th quarter valued at $28,000. SBI Securities Co. Ltd. boosted its position in Centene by 118.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 749 shares of the company’s stock worth $31,000 after purchasing an additional 406 shares during the period. Bayban acquired a new position in shares of Centene in the fourth quarter valued at $33,000. Finally, MV Capital Management Inc. bought a new position in shares of Centene in the fourth quarter valued at about $34,000. Institutional investors and hedge funds own 93.63% of the company’s stock.

Centene Stock Up 2.6%

Shares of NYSE CNC opened at $67.58 on Wednesday. The stock has a market capitalization of $33.37 billion, a P/E ratio of -5.14, a PEG ratio of 0.52 and a beta of 1.07. The stock’s fifty day moving average is $63.11 and its 200 day moving average is $49.26. Centene Corporation has a 52 week low of $25.08 and a 52 week high of $69.36. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.12 and a current ratio of 1.12.

Centene (NYSE:CNC) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $49.94 billion for the quarter, compared to analyst estimates of $47.53 billion. During the same quarter last year, the business posted $2.90 EPS. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. Sell-side analysts forecast that Centene Corporation will post 3.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. TD Cowen reiterated a “hold” rating and issued a $65.00 price target (up from $47.00) on shares of Centene in a research note on Tuesday, July 14th. Robert W. Baird boosted their price target on Centene from $36.00 to $37.00 and gave the company a “neutral” rating in a research note on Wednesday, April 15th. Raymond James Financial set a $75.00 price objective on Centene in a research report on Tuesday, July 7th. Morgan Stanley boosted their target price on shares of Centene from $50.00 to $57.00 and gave the company an “equal weight” rating in a research report on Thursday, June 4th. Finally, Bank of America raised their price target on shares of Centene from $72.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. Seven analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $64.61.

Centene 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.