Mount Yale Investment Advisors LLC Grows Holdings in Centene Co. (NYSE:CNC)

Mount Yale Investment Advisors LLC raised its position in Centene Co. (NYSE:CNC) by 2.9% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 7,915 shares of the company’s stock after purchasing an additional 223 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Centene were worth $525,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CNC. Frank Rimerman Advisors LLC increased its holdings in Centene by 21,633.3% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 6,520 shares of the company’s stock worth $432,000 after purchasing an additional 6,490 shares during the last quarter. ProShare Advisors LLC grew its position in shares of Centene by 9.2% during the second quarter. ProShare Advisors LLC now owns 100,489 shares of the company’s stock worth $6,662,000 after buying an additional 8,505 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Centene by 25.0% in the second quarter. Pacer Advisors Inc. now owns 52,348 shares of the company’s stock valued at $3,471,000 after acquiring an additional 10,453 shares in the last quarter. Skandinaviska Enskilda Banken AB publ boosted its stake in Centene by 42.3% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 1,400,276 shares of the company’s stock valued at $92,838,000 after acquiring an additional 416,003 shares during the last quarter. Finally, AE Wealth Management LLC increased its position in shares of Centene by 41.0% in the 2nd quarter. AE Wealth Management LLC now owns 26,142 shares of the company’s stock worth $1,733,000 after purchasing an additional 7,602 shares during the last quarter. 93.63% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on CNC. Deutsche Bank Aktiengesellschaft increased their price target on shares of Centene from $82.00 to $87.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. Jefferies Financial Group downgraded Centene from a “buy” rating to a “hold” rating and lowered their price target for the company from $83.00 to $69.00 in a report on Wednesday, July 24th. JPMorgan Chase & Co. reduced their price objective on Centene from $85.00 to $80.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. StockNews.com raised shares of Centene from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Finally, Baird R W raised shares of Centene to a “hold” rating in a report on Thursday, May 30th. Seven investment 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 company. According to MarketBeat, Centene currently has a consensus rating of “Moderate Buy” and an average target price of $85.58.

Centene Trading Down 0.3 %

Shares of NYSE:CNC opened at $75.35 on Tuesday. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.64. The company’s 50-day moving average price is $74.67 and its 200 day moving average price is $73.43. The company has a market cap of $40.21 billion, a PE ratio of 14.98, a P/E/G ratio of 0.99 and a beta of 0.48. Centene Co. has a fifty-two week low of $63.45 and a fifty-two week high of $81.42.

Centene (NYSE:CNC) last issued its quarterly earnings data on Friday, July 26th. The company reported $2.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.02). Centene had a return on equity of 14.45% and a net margin of 1.79%. The business had revenue of $39.84 billion for the quarter, compared to analyst estimates of $36.83 billion. During the same quarter in the prior year, the firm posted $2.10 earnings per share. The business’s quarterly revenue was up 5.9% on a year-over-year basis. Sell-side analysts anticipate that Centene Co. will post 6.82 earnings per share 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.