Net Worth Advisory Group Makes New Investment in Centene Co. (NYSE:CNC)

Net Worth Advisory Group bought a new position in shares of Centene Co. (NYSE:CNC) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,271 shares of the company’s stock, valued at approximately $246,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Aaron Wealth Advisors LLC purchased a new position in Centene in the third quarter worth $308,000. Claro Advisors LLC bought a new position in Centene during the third quarter valued at about $1,118,000. V Square Quantitative Management LLC increased its holdings in Centene by 17.8% during the third quarter. V Square Quantitative Management LLC now owns 6,201 shares of the company’s stock worth $467,000 after buying an additional 938 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Centene by 2.5% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 55,227 shares of the company’s stock worth $4,157,000 after acquiring an additional 1,372 shares during the period. Finally, Washington Capital Management Inc. boosted its stake in Centene by 13.4% in the third quarter. Washington Capital Management Inc. now owns 13,580 shares of the company’s stock valued at $1,022,000 after acquiring an additional 1,600 shares during the last quarter. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on CNC shares. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Centene from $82.00 to $87.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. StockNews.com raised Centene from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 15th. Oppenheimer decreased their price objective on Centene from $110.00 to $95.00 and set an “outperform” rating for the company in a report on Monday, July 29th. Jefferies Financial Group downgraded shares of Centene from a “buy” rating to a “hold” rating and dropped their price objective for the company from $83.00 to $69.00 in a report on Wednesday, July 24th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 price target on shares of Centene in a research report on Tuesday, October 1st. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $85.58.

Centene Stock Down 1.6 %

CNC opened at $62.02 on Monday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.17 and a quick ratio of 1.17. Centene Co. has a one year low of $61.62 and a one year high of $81.42. The firm has a market capitalization of $33.10 billion, a P/E ratio of 12.33, a price-to-earnings-growth ratio of 0.98 and a beta of 0.48. The company has a fifty day moving average price of $74.44 and a 200-day moving average price of $72.69.

Centene (NYSE:CNC) last released its quarterly earnings results on Friday, July 26th. The company reported $2.42 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.02). Centene had a net margin of 1.79% and a return on equity of 14.45%. The business had revenue of $39.84 billion during the quarter, compared to analysts’ expectations of $36.83 billion. During the same period in the previous year, the business earned $2.10 EPS. The business’s revenue was up 5.9% on a year-over-year basis. Equities research analysts expect that Centene Co. will post 6.8 earnings per share for the current fiscal year.

Centene Company 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.