Fidelis Capital Partners LLC Trims Position in Centene Co. (NYSE:CNC)

Fidelis Capital Partners LLC lowered its holdings in Centene Co. (NYSE:CNC) by 14.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,832 shares of the company’s stock after selling 494 shares during the period. Fidelis Capital Partners LLC’s holdings in Centene were worth $188,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Rise Advisors LLC purchased a new stake in Centene in the 1st quarter valued at about $25,000. WR Wealth Planners LLC grew its holdings in 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 purchasing an additional 137 shares during the period. Chris Bulman Inc purchased a new position in Centene during the second quarter worth approximately $33,000. Riverview Trust Co boosted its holdings in shares of Centene by 154.6% in the 2nd quarter. Riverview Trust Co now owns 527 shares of the company’s stock valued at $35,000 after purchasing an additional 320 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Centene during the 2nd quarter worth $36,000. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Centene Stock Performance

NYSE:CNC opened at $75.35 on Tuesday. Centene Co. has a 1-year low of $63.45 and a 1-year high of $81.42. The stock has a market cap of $40.21 billion, a P/E ratio of 14.98, a PEG ratio of 0.99 and a beta of 0.48. 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 firm has a 50-day moving average of $74.67 and a two-hundred day moving average of $73.43.

Centene (NYSE:CNC) last issued its quarterly 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 company had revenue of $39.84 billion during 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 firm’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.10 EPS. On average, research analysts expect that Centene Co. will post 6.82 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CNC shares. Robert W. Baird assumed coverage on Centene in a report on Thursday, May 30th. They issued a “neutral” rating and a $83.00 target price on the stock. Truist Financial decreased their target price on Centene from $92.00 to $89.00 and set a “buy” rating for the company in a report on Monday, July 15th. Cantor Fitzgerald restated an “overweight” rating and issued a $90.00 price target on shares of Centene in a report on Friday. Wells Fargo & Company reduced their price target on shares of Centene from $93.00 to $91.00 and set an “overweight” rating on the stock in a research report on Friday, September 13th. Finally, Jefferies Financial Group lowered shares of Centene from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $83.00 to $69.00 in a research report on Wednesday, July 24th. Seven equities research 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.com, the stock presently has a consensus 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.