Hsbc Holdings PLC Has $115.07 Million Holdings in Centene Co. (NYSE:CNC)

Hsbc Holdings PLC lessened its holdings in Centene Co. (NYSE:CNC) by 0.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,733,919 shares of the company’s stock after selling 13,287 shares during the period. Hsbc Holdings PLC owned 0.32% of Centene worth $115,065,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Rise Advisors LLC acquired a new stake in shares of Centene in the 1st quarter valued at $25,000. WR Wealth Planners LLC raised its holdings in Centene by 41.4% in the 2nd quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock worth $31,000 after acquiring an additional 137 shares during the period. Chris Bulman Inc bought a new position in Centene in the 2nd quarter worth $33,000. Riverview Trust Co raised its holdings in Centene by 154.6% in the 2nd quarter. Riverview Trust Co now owns 527 shares of the company’s stock worth $35,000 after acquiring an additional 320 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in Centene in the 2nd quarter worth $36,000. Institutional investors and hedge funds own 93.63% of the company’s stock.

Centene Stock Performance

NYSE CNC opened at $76.32 on Thursday. The stock has a market cap of $40.73 billion, a P/E ratio of 15.17, a PEG ratio of 0.99 and a beta of 0.48. The company’s 50-day simple moving average is $74.16 and its 200 day simple moving average is $73.52. Centene Co. has a twelve month low of $63.45 and a twelve month high of $81.42. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.64.

Centene (NYSE:CNC) last posted its earnings results 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). The business had revenue of $39.84 billion during the quarter, compared to the consensus estimate of $36.83 billion. Centene had a net margin of 1.79% and a return on equity of 14.45%. The business’s revenue was up 5.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.10 EPS. As a group, research analysts forecast that Centene Co. will post 6.82 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Robert W. Baird assumed coverage on shares of Centene in a report on Thursday, May 30th. They issued a “neutral” rating and a $83.00 target price on the stock. 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 report on Monday, July 29th. Barclays dropped their target price on shares of Centene from $98.00 to $97.00 and set an “overweight” rating on the stock in a report on Thursday, September 5th. Cantor Fitzgerald restated an “overweight” rating and set a $90.00 price objective on shares of Centene in a report on Tuesday, September 10th. Finally, JPMorgan Chase & Co. dropped their price objective 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 assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Centene currently has an average rating of “Moderate Buy” and a consensus price target of $85.58.

About Centene

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.