Gladstone Institutional Advisory LLC Boosts Holdings in Centene Co. (NYSE:CNC)

Gladstone Institutional Advisory LLC raised its holdings in Centene Co. (NYSE:CNC) by 11.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,281 shares of the company’s stock after buying an additional 439 shares during the quarter. Gladstone Institutional Advisory LLC’s holdings in Centene were worth $322,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Swedbank AB purchased a new stake in shares of Centene during the 1st quarter worth about $914,080,000. Boston Partners lifted its position in Centene by 0.4% during the 1st quarter. Boston Partners now owns 8,652,177 shares of the company’s stock worth $678,033,000 after acquiring an additional 32,427 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Centene by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,491,968 shares of the company’s stock worth $364,117,000 after acquiring an additional 25,595 shares in the last quarter. Capital International Investors lifted its position in Centene by 60.2% during the 1st quarter. Capital International Investors now owns 5,216,486 shares of the company’s stock worth $409,390,000 after acquiring an additional 1,959,460 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in Centene by 14.2% during the 2nd quarter. Legal & General Group Plc now owns 5,113,759 shares of the company’s stock worth $339,042,000 after acquiring an additional 636,683 shares in the last quarter. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CNC shares. Wells Fargo & Company cut their target price on Centene from $91.00 to $90.00 and set an “overweight” rating on the stock in a research report on Monday. Deutsche Bank Aktiengesellschaft increased their price target on Centene from $82.00 to $87.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. TD Cowen raised their target price on Centene from $80.00 to $89.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Stephens reissued an “equal weight” rating and issued a $78.00 price objective on shares of Centene in a research note on Monday, August 5th. Finally, Barclays reduced their price objective on Centene from $97.00 to $91.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $83.92.

Centene Price Performance

Shares of CNC stock opened at $63.82 on Tuesday. The stock has a 50 day moving average of $70.97 and a two-hundred day moving average of $71.89. The company has a current ratio of 1.10, a quick ratio of 1.17 and a debt-to-equity ratio of 0.64. 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 $32.22 billion, a P/E ratio of 11.08, a P/E/G ratio of 0.85 and a beta of 0.49.

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.