Paragon Capital Management Inc. Boosts Stock Holdings in Centene Co. (NYSE:CNC)

Paragon Capital Management Inc. boosted its holdings in Centene Co. (NYSE:CNC) by 8.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,342 shares of the company’s stock after acquiring an additional 1,910 shares during the quarter. Paragon Capital Management Inc.’s holdings in Centene were worth $1,614,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Pinebridge Investments L.P. grew its stake in shares of Centene by 52.4% in the fourth quarter. Pinebridge Investments L.P. now owns 327,442 shares of the company’s stock worth $24,298,000 after acquiring an additional 112,605 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Centene by 18.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 624,944 shares of the company’s stock valued at $49,046,000 after buying an additional 98,298 shares during the last quarter. GSA Capital Partners LLP lifted its holdings in shares of Centene by 435.0% during the 1st quarter. GSA Capital Partners LLP now owns 20,052 shares of the company’s stock valued at $1,574,000 after buying an additional 16,304 shares during the period. Diversified Trust Co grew its holdings in shares of Centene by 35.8% in the second quarter. Diversified Trust Co now owns 28,009 shares of the company’s stock worth $1,857,000 after acquiring an additional 7,385 shares during the period. Finally, Bessemer Group Inc. increased its position in Centene by 189.6% during the first quarter. Bessemer Group Inc. now owns 24,162 shares of the company’s stock valued at $1,895,000 after acquiring an additional 15,819 shares during the last quarter. 93.63% of the stock is currently owned by hedge funds and other institutional investors.

Centene Stock Performance

NYSE:CNC opened at $72.63 on Thursday. Centene Co. has a 12-month low of $63.45 and a 12-month 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. The stock has a market capitalization of $38.76 billion, a P/E ratio of 14.44, a P/E/G ratio of 1.02 and a beta of 0.48. The stock has a 50-day moving average price of $75.72 and a 200 day moving average price of $73.32.

Centene (NYSE:CNC) last released 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 net margin of 1.79% and a return on equity of 14.45%. The company had revenue of $39.84 billion for the quarter, compared to the consensus estimate of $36.83 billion. During the same quarter in the previous year, the business earned $2.10 EPS. The company’s quarterly revenue was up 5.9% on a year-over-year basis. Equities research analysts forecast that Centene Co. will post 6.8 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CNC shares. TD Cowen boosted their price target on Centene from $80.00 to $89.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Truist Financial reduced their target price 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 cut shares of Centene from a “buy” rating to a “hold” rating and dropped their price target for the stock from $83.00 to $69.00 in a research note on Wednesday, July 24th. JPMorgan Chase & Co. reduced their price objective on Centene from $85.00 to $80.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $90.00 price target on shares of Centene in a report on Tuesday. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Centene currently has an average rating of “Moderate Buy” and a consensus target price 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.