Evergreen Capital Management LLC Cuts Stake in Centene Co. (NYSE:CNC)

Evergreen Capital Management LLC decreased its stake in shares of Centene Co. (NYSE:CNC) by 8.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,227 shares of the company’s stock after selling 497 shares during the quarter. Evergreen Capital Management LLC’s holdings in Centene were worth $347,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of CNC. Magnetar Financial LLC bought a new stake in shares of Centene in the second quarter worth about $4,648,000. Public Sector Pension Investment Board increased its stake in Centene by 70.3% in the 2nd quarter. Public Sector Pension Investment Board now owns 20,319 shares of the company’s stock worth $1,347,000 after acquiring an additional 8,387 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Centene by 104.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,231 shares of the company’s stock valued at $82,000 after acquiring an additional 630 shares during the last quarter. 1832 Asset Management L.P. increased its position in Centene by 2.0% in the second quarter. 1832 Asset Management L.P. now owns 88,349 shares of the company’s stock worth $5,858,000 after purchasing an additional 1,747 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC lifted its position in Centene by 2.9% during the second quarter. Mount Yale Investment Advisors LLC now owns 7,915 shares of the company’s stock valued at $525,000 after purchasing an additional 223 shares during the last quarter. 93.63% of the stock is currently owned by institutional investors.

Centene Stock Down 0.6 %

Centene stock opened at $73.71 on Friday. The business has a fifty day moving average price of $74.90 and a 200-day moving average price of $73.41. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.17 and a quick ratio of 1.17. Centene Co. has a 1-year low of $63.45 and a 1-year high of $81.42. The stock has a market capitalization of $39.34 billion, a price-to-earnings ratio of 14.65, a PEG ratio of 1.02 and a beta of 0.48.

Centene (NYSE:CNC) last issued its quarterly 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 for the quarter, compared to analysts’ expectations of $36.83 billion. Centene had a return on equity of 14.45% and a net margin of 1.79%. Centene’s revenue was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.10 EPS. Equities research analysts forecast that Centene Co. will post 6.8 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CNC. Robert W. Baird assumed coverage on Centene in a research note on Thursday, May 30th. They issued a “neutral” rating and a $83.00 target price on the stock. Truist Financial decreased their price objective on shares of Centene from $92.00 to $89.00 and set a “buy” rating for the company in a report on Monday, July 15th. Jefferies Financial Group downgraded shares of Centene from a “buy” rating to a “hold” rating and dropped their target price for the stock from $83.00 to $69.00 in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Centene from $82.00 to $87.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. Finally, StockNews.com raised Centene from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.58.

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.