Belpointe Asset Management LLC Has $1.05 Million Position in Centene Co. (NYSE:CNC)

Belpointe Asset Management LLC increased its stake in shares of Centene Co. (NYSE:CNC) by 11.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 15,764 shares of the company’s stock after buying an additional 1,663 shares during the period. Belpointe Asset Management LLC’s holdings in Centene were worth $1,045,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of CNC. Rise Advisors LLC bought a new stake in Centene in the 1st quarter valued at $25,000. WR Wealth Planners LLC boosted its position in shares of Centene by 41.4% in the second quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock valued at $31,000 after acquiring an additional 137 shares during the period. Riverview Trust Co grew its stake 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 acquiring an additional 320 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in Centene during the second quarter worth about $36,000. Finally, Neo Ivy Capital Management acquired a new stake in Centene in the 4th quarter worth about $40,000. Institutional investors and hedge funds own 93.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CNC shares. Stephens reiterated an “equal weight” rating and issued a $78.00 price target on shares of Centene in a research report on Monday, August 5th. Oppenheimer cut their target price on Centene from $110.00 to $95.00 and set an “outperform” rating for the company in a research report on Monday, July 29th. StockNews.com upgraded Centene from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Baird R W raised shares of Centene to a “hold” rating in a research report on Thursday, May 30th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Centene from $85.00 to $80.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $85.75.

Centene Stock Down 0.8 %

Shares of CNC opened at $72.67 on Friday. The stock has a market capitalization of $38.78 billion, a price-to-earnings ratio of 14.45, a PEG ratio of 1.06 and a beta of 0.50. Centene Co. has a 52 week low of $62.50 and a 52 week high of $81.42. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.17 and a current ratio of 1.17. The stock has a fifty day moving average of $72.80 and a 200-day moving average of $73.90.

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 firm had revenue of $39.84 billion for 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 business’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.10 earnings per share. As a group, sell-side analysts anticipate that Centene Co. will post 6.84 earnings per share for the current fiscal 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.