Koss Olinger Consulting LLC Takes $230,000 Position in Centene Co. (NYSE:CNC)

Koss Olinger Consulting LLC acquired a new position in shares of Centene Co. (NYSE:CNC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,476 shares of the company’s stock, valued at approximately $230,000.

Other large investors also recently added to or reduced their stakes in the company. Pinebridge Investments L.P. raised its position in shares of Centene by 52.4% during the 4th quarter. Pinebridge Investments L.P. now owns 327,442 shares of the company’s stock valued at $24,298,000 after buying an additional 112,605 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Centene by 18.7% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 624,944 shares of the company’s stock worth $49,046,000 after acquiring an additional 98,298 shares in the last quarter. GSA Capital Partners LLP increased its position in shares of Centene by 435.0% during the first quarter. GSA Capital Partners LLP now owns 20,052 shares of the company’s stock worth $1,574,000 after acquiring an additional 16,304 shares during the period. Diversified Trust Co boosted its holdings in Centene by 35.8% in the second quarter. Diversified Trust Co now owns 28,009 shares of the company’s stock valued at $1,857,000 after purchasing an additional 7,385 shares during the period. Finally, Wells Fargo & Company MN grew its stake in Centene by 5.8% during the 4th quarter. Wells Fargo & Company MN now owns 947,577 shares of the company’s stock worth $70,320,000 after purchasing an additional 51,878 shares in the last quarter. 93.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CNC shares. Deutsche Bank Aktiengesellschaft lifted their price objective on Centene from $82.00 to $87.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $90.00 price target on shares of Centene in a report on Monday, August 19th. Wells Fargo & Company raised their target price on Centene from $81.00 to $93.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Oppenheimer dropped their target price on shares of Centene from $110.00 to $95.00 and set an “outperform” rating on the stock in a research report on Monday, July 29th. Finally, TD Cowen boosted 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. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $85.75.

Centene Price Performance

Shares of NYSE:CNC opened at $70.84 on Tuesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.17 and a current ratio of 1.17. Centene Co. has a one year low of $63.45 and a one year high of $81.42. The company has a 50-day simple moving average of $73.00 and a 200-day simple moving average of $73.70. The stock has a market capitalization of $37.26 billion, a price-to-earnings ratio of 14.08, a PEG ratio of 0.95 and a beta of 0.48.

Centene (NYSE:CNC) last posted its quarterly earnings data on Friday, July 26th. The company reported $2.42 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.02). Centene had a return on equity of 14.45% and a net margin of 1.79%. The company had revenue of $39.84 billion for the quarter, compared to analyst estimates of $36.83 billion. During the same period in the previous year, the business posted $2.10 earnings per share. The firm’s revenue was up 5.9% compared to the same quarter last year. On average, analysts predict that Centene Co. will post 6.83 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.