Carillon Tower Advisers Inc. acquired a new position in Centene Corp (NYSE:CNC) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 299,961 shares of the company’s stock, valued at approximately $30,260,000. Carillon Tower Advisers Inc. owned 0.17% of Centene at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Elk Creek Partners LLC grew its position in Centene by 11.5% during the third quarter. Elk Creek Partners LLC now owns 5,264 shares of the company’s stock valued at $509,000 after buying an additional 542 shares during the period. Savant Capital LLC grew its position in Centene by 19.7% during the third quarter. Savant Capital LLC now owns 3,580 shares of the company’s stock valued at $346,000 after buying an additional 590 shares during the period. New Mexico Educational Retirement Board grew its position in Centene by 3.8% during the fourth quarter. New Mexico Educational Retirement Board now owns 16,600 shares of the company’s stock valued at $1,675,000 after buying an additional 600 shares during the period. CIBC Asset Management Inc grew its position in shares of Centene by 4.0% in the third quarter. CIBC Asset Management Inc now owns 16,475 shares of the company’s stock valued at $1,594,000 after purchasing an additional 630 shares during the period. Finally, Eqis Capital Management Inc. grew its position in shares of Centene by 5.1% in the fourth quarter. Eqis Capital Management Inc. now owns 13,862 shares of the company’s stock valued at $1,398,000 after purchasing an additional 672 shares during the period. Hedge funds and other institutional investors own 90.53% of the company’s stock.
Several equities analysts have recently weighed in on the stock. Morgan Stanley raised their price target on shares of Centene from $118.00 to $126.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. ValuEngine raised shares of Centene from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Goldman Sachs Group started coverage on shares of Centene in a research note on Wednesday, January 3rd. They set a “buy” rating and a $135.00 target price on the stock. Credit Suisse Group lifted their target price on shares of Centene from $110.00 to $112.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 7th. Finally, Oppenheimer reiterated a “buy” rating and set a $111.00 price target on shares of Centene in a research report on Friday, December 15th. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $110.28.
Centene Corp (NYSE CNC) opened at $101.67 on Wednesday. The company has a market cap of $17,579.84, a price-to-earnings ratio of 19.94, a price-to-earnings-growth ratio of 0.97 and a beta of 0.76. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.93 and a current ratio of 0.93. Centene Corp has a 12-month low of $65.03 and a 12-month high of $112.42.
Centene (NYSE:CNC) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $0.97 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.03. Centene had a net margin of 1.71% and a return on equity of 13.68%. The business had revenue of $12.81 billion for the quarter, compared to analysts’ expectations of $12.25 billion. During the same period in the prior year, the company posted $1.19 EPS. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. sell-side analysts expect that Centene Corp will post 7.2 earnings per share for the current year.
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Centene Company Profile
Centene Corporation is a healthcare company. The Company provides a portfolio of services to government sponsored healthcare programs, focusing on under-insured and uninsured individuals. The Company operates through two segments: Managed Care and Specialty Services. The Company’s Managed Care segment provides health plan coverage to individuals, through government subsidized programs, including Medicaid, the State Children’s Health Insurance Program (CHIP), Long Term Care, Foster Care, dual-eligible individuals (Duals) and the Supplemental Security Income Program, also known as the Aged, Blind or Disabled Program (ABD), Medicare, and Health Insurance Marketplace.
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