Van ECK Associates Corp Buys 39,067 Shares of Centene Co. (NYSE:CNC)

Van ECK Associates Corp lifted its position in shares of Centene Co. (NYSE:CNC) by 80.0% during the 2nd quarter, HoldingsChannel reports. The firm owned 87,901 shares of the company’s stock after acquiring an additional 39,067 shares during the period. Van ECK Associates Corp’s holdings in Centene were worth $5,828,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Rise Advisors LLC bought a new position in shares of Centene in the 1st quarter worth about $25,000. Riverview Trust Co lifted its holdings in shares of Centene by 154.6% during 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. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Centene during the 2nd quarter valued at about $36,000. Neo Ivy Capital Management bought a new position in shares of Centene in the 4th quarter worth approximately $40,000. Finally, Versant Capital Management Inc grew its position in Centene by 265.3% during the second quarter. Versant Capital Management Inc now owns 632 shares of the company’s stock valued at $42,000 after buying an additional 459 shares during the period. Institutional investors own 93.63% of the company’s stock.

Centene Stock Performance

NYSE CNC opened at $80.21 on Wednesday. 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 stock has a market capitalization of $42.80 billion, a PE ratio of 15.95, a P/E/G ratio of 1.06 and a beta of 0.50. Centene Co. has a 1-year low of $61.31 and a 1-year high of $81.42. The business has a 50 day simple moving average of $72.58 and a two-hundred day simple moving average of $73.91.

Centene (NYSE:CNC) last released its quarterly earnings data on Friday, July 26th. The company reported $2.42 EPS 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 for the quarter, compared to the consensus estimate of $36.83 billion. During the same quarter last year, the business earned $2.10 EPS. Centene’s revenue for the quarter was up 5.9% compared to the same quarter last year. On average, research analysts predict that Centene Co. will post 6.84 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CNC has been the subject of a number of recent research reports. Truist Financial cut their price objective on shares of Centene from $92.00 to $89.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Cantor Fitzgerald restated an “overweight” rating and issued a $90.00 price target on shares of Centene in a research report on Monday, August 19th. JPMorgan Chase & Co. lowered their price objective on Centene from $85.00 to $80.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Oppenheimer reduced their target price on shares of Centene from $110.00 to $95.00 and set an “outperform” rating for the company in a report on Monday, July 29th. Finally, Robert W. Baird initiated coverage on shares of Centene in a report on Thursday, May 30th. They set a “neutral” rating and a $83.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $84.77.

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.