E Fund Management Co. Ltd. Has $219,000 Stock Position in Centene Co. (NYSE:CNC)

E Fund Management Co. Ltd. grew its stake in Centene Co. (NYSE:CNC) by 6.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,309 shares of the company’s stock after acquiring an additional 199 shares during the period. E Fund Management Co. Ltd.’s holdings in Centene were worth $219,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Rise Advisors LLC bought a new stake in Centene during the 1st quarter worth about $25,000. WR Wealth Planners LLC raised its stake in shares of Centene by 41.4% during the second quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock worth $31,000 after buying an additional 137 shares during the last quarter. Chris Bulman Inc acquired a new position in Centene in the second quarter valued at approximately $33,000. Riverview Trust Co boosted its stake in 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 during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Centene during the 2nd quarter worth $36,000. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Centene Price Performance

CNC stock opened at $75.63 on Friday. The stock has a market cap of $40.36 billion, a PE ratio of 15.04, a price-to-earnings-growth ratio of 0.99 and a beta of 0.48. The stock has a 50-day moving average price of $74.33 and a two-hundred day moving average price of $73.53. Centene Co. has a 1 year low of $63.45 and a 1 year high of $81.42. 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 (NYSE:CNC) last announced its earnings results on Friday, July 26th. The company reported $2.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.02). The firm had revenue of $39.84 billion during the quarter, compared to analyst estimates of $36.83 billion. Centene had a net margin of 1.79% and a return on equity of 14.45%. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.10 EPS. Equities analysts forecast that Centene Co. will post 6.82 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Jefferies Financial Group lowered Centene from a “buy” rating to a “hold” rating and reduced their price target for the stock from $83.00 to $69.00 in a research report on Wednesday, July 24th. Stephens reaffirmed an “equal weight” rating and issued a $78.00 price target on shares of Centene in a research note on Monday, August 5th. JPMorgan Chase & Co. reduced their price objective on shares of Centene from $85.00 to $80.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Robert W. Baird assumed coverage on shares of Centene in a research note on Thursday, May 30th. They issued a “neutral” rating and a $83.00 target price for the company. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $90.00 price target on shares of Centene in a research report on Tuesday, September 10th. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $85.58.

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.