Susquehanna Portfolio Strategies LLC Sells 40,238 Shares of Centene Co. (NYSE:CNC)

Susquehanna Portfolio Strategies LLC lowered its stake in shares of Centene Co. (NYSE:CNC) by 32.0% during the second quarter, HoldingsChannel reports. The firm owned 85,408 shares of the company’s stock after selling 40,238 shares during the quarter. Susquehanna Portfolio Strategies LLC’s holdings in Centene were worth $5,663,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Rise Advisors LLC acquired a new position in Centene in the 1st quarter valued at $25,000. WR Wealth Planners LLC grew its holdings in shares of Centene by 41.4% during the 2nd quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock worth $31,000 after purchasing an additional 137 shares in the last quarter. Chris Bulman Inc acquired a new stake in shares of Centene during the 2nd quarter worth $33,000. Riverview Trust Co grew its holdings in shares of Centene by 154.6% during the 2nd quarter. Riverview Trust Co now owns 527 shares of the company’s stock worth $35,000 after purchasing an additional 320 shares in 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. Institutional investors own 93.63% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CNC shares. Wells Fargo & Company dropped their price objective on Centene from $93.00 to $91.00 and set an “overweight” rating for the company in a research report on Friday, September 13th. Barclays dropped their target price on Centene from $98.00 to $97.00 and set an “overweight” rating for the company in a research report on Thursday, September 5th. TD Cowen increased their target price on Centene from $80.00 to $89.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. StockNews.com upgraded Centene from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Finally, Stephens reiterated an “equal weight” rating and issued a $78.00 target price on shares of Centene in a research report on Monday, August 5th. Seven investment 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $85.58.

Centene Trading Up 1.2 %

NYSE CNC opened at $74.57 on Friday. The business has a 50 day simple moving average of $75.06 and a 200 day simple moving average of $73.41. Centene Co. has a one year low of $63.45 and a one year high of $81.42. The stock has a market capitalization of $39.79 billion, a P/E ratio of 14.83, a P/E/G ratio of 1.02 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.

Centene (NYSE:CNC) last released its quarterly earnings data on Friday, July 26th. The company reported $2.42 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.02). The business had revenue of $39.84 billion for the quarter, compared to analyst estimates of $36.83 billion. Centene had a return on equity of 14.45% and a net margin of 1.79%. The business’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.10 EPS. Research analysts expect that Centene Co. will post 6.8 earnings per share for the current year.

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.