Centene Co. (NYSE:CNC) Holdings Lowered by Natixis Advisors LLC

Natixis Advisors LLC lowered its stake in Centene Co. (NYSE:CNC) by 3.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 384,819 shares of the company’s stock after selling 15,402 shares during the quarter. Natixis Advisors LLC owned approximately 0.07% of Centene worth $25,514,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. Rise Advisors LLC acquired a new stake in shares of Centene during the first quarter valued at approximately $25,000. WR Wealth Planners LLC raised its stake in Centene by 41.4% during 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 period. Riverview Trust Co lifted its holdings in shares of Centene by 154.6% in the second quarter. Riverview Trust Co now owns 527 shares of the company’s stock valued at $35,000 after purchasing an additional 320 shares in the last quarter. Neo Ivy Capital Management purchased a new position in shares of Centene during the fourth quarter valued at $40,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in Centene during the second quarter valued at $36,000. 93.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Jefferies Financial Group cut Centene from a “buy” rating to a “hold” rating and lowered their target price for the company from $83.00 to $69.00 in a research note on Wednesday, July 24th. JPMorgan Chase & Co. cut their target price on shares of Centene from $85.00 to $80.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. StockNews.com upgraded Centene from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Truist Financial dropped their target price on Centene from $92.00 to $89.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Finally, TD Cowen lifted their price target on Centene from $80.00 to $89.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Centene currently has an average rating of “Moderate Buy” and an average price target of $84.77.

Centene Price Performance

NYSE CNC opened at $78.83 on Tuesday. The company has a market cap of $42.07 billion, a P/E ratio of 15.67, a P/E/G ratio of 1.06 and a beta of 0.50. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.64. Centene Co. has a 1 year low of $60.83 and a 1 year high of $81.42. The company has a fifty day simple moving average of $72.33 and a 200 day simple moving average of $73.90.

Centene (NYSE:CNC) last posted its quarterly earnings data on Friday, July 26th. The company reported $2.42 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.02). The business had revenue of $39.84 billion during the quarter, compared to the consensus estimate of $36.83 billion. Centene had a return on equity of 14.45% and a net margin of 1.79%. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.10 earnings per share. On average, sell-side analysts predict that Centene Co. will post 6.84 EPS for the current year.

Centene 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.