International Assets Investment Management LLC Invests $236.94 Million in Centene Co. (NYSE:CNC)

International Assets Investment Management LLC purchased a new stake in Centene Co. (NYSE:CNC) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 314,746 shares of the company’s stock, valued at approximately $236,940,000. International Assets Investment Management LLC owned approximately 0.06% of Centene at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Park Place Capital Corp lifted its stake in Centene by 1,190.0% in the third quarter. Park Place Capital Corp now owns 387 shares of the company’s stock worth $29,000 after acquiring an additional 357 shares during the last quarter. WR Wealth Planners LLC lifted its holdings in shares of Centene by 41.4% in the 2nd quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock valued at $31,000 after purchasing an additional 137 shares during the last quarter. Chris Bulman Inc purchased a new position in Centene during the 2nd quarter worth approximately $33,000. Riverview Trust Co increased its position in Centene by 154.6% during the second quarter. Riverview Trust Co now owns 527 shares of the company’s stock worth $35,000 after buying an additional 320 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Centene in the second quarter valued at approximately $36,000. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. TD Cowen upped their price target on shares of Centene from $80.00 to $89.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Cantor Fitzgerald reissued an “overweight” rating and set a $90.00 target price on shares of Centene in a research note on Tuesday, October 1st. Barclays decreased their price target on Centene from $98.00 to $97.00 and set an “overweight” rating on the stock in a research note on Thursday, September 5th. Wells Fargo & Company reduced their target price on Centene from $93.00 to $91.00 and set an “overweight” rating for the company in a report on Friday, September 13th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Centene from $85.00 to $80.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.58.

Centene Stock Up 3.0 %

Shares of NYSE CNC opened at $61.60 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.17 and a quick ratio of 1.17. The firm’s 50-day moving average is $73.50 and its two-hundred day moving average is $72.45. Centene Co. has a 12-month low of $59.77 and a 12-month high of $81.42. The company has a market capitalization of $32.87 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 0.98 and a beta of 0.48.

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). The company had revenue of $39.84 billion for the quarter, compared to analysts’ expectations of $36.83 billion. Centene had a return on equity of 14.45% and a net margin of 1.79%. The business’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the business posted $2.10 EPS. Equities analysts anticipate that Centene Co. will post 6.8 EPS 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.