Livforsakringsbolaget Skandia Omsesidigt Grows Stock Holdings in Centene Co. (NYSE:CNC)

Livforsakringsbolaget Skandia Omsesidigt lifted its stake in Centene Co. (NYSE:CNC) by 285.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,959 shares of the company’s stock after acquiring an additional 3,674 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Centene were worth $373,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. EP Wealth Advisors LLC boosted its stake in Centene by 1.0% in the 1st quarter. EP Wealth Advisors LLC now owns 13,604 shares of the company’s stock worth $1,068,000 after purchasing an additional 133 shares during the period. WR Wealth Planners LLC boosted its position in shares of 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 acquiring an additional 137 shares during the period. Whittier Trust Co. grew its stake in Centene by 10.0% during the second quarter. Whittier Trust Co. now owns 1,562 shares of the company’s stock valued at $104,000 after acquiring an additional 142 shares in the last quarter. Fidelis Capital Partners LLC increased its holdings in Centene by 5.0% during the 1st quarter. Fidelis Capital Partners LLC now owns 3,316 shares of the company’s stock worth $260,000 after acquiring an additional 158 shares during the period. Finally, Bleakley Financial Group LLC lifted its stake in Centene by 2.4% in the 1st quarter. Bleakley Financial Group LLC now owns 7,287 shares of the company’s stock worth $572,000 after purchasing an additional 173 shares in the last quarter. 93.63% of the stock is currently owned by hedge funds and other institutional investors.

Centene Price Performance

Shares of Centene stock opened at $72.44 on Monday. The stock has a market capitalization of $38.66 billion, a P/E ratio of 14.40, a price-to-earnings-growth ratio of 0.98 and a beta of 0.48. Centene Co. has a one year low of $63.45 and a one year high of $81.42. 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 business’s 50 day simple moving average is $75.31 and its two-hundred day simple moving average is $73.01.

Centene (NYSE:CNC) last announced its quarterly earnings results 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 firm had revenue of $39.84 billion for the quarter, compared to analysts’ expectations of $36.83 billion. Centene had a net margin of 1.79% and a return on equity of 14.45%. The company’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the company earned $2.10 EPS. Analysts forecast that Centene Co. will post 6.8 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CNC. StockNews.com downgraded Centene from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 7th. JPMorgan Chase & Co. dropped their price target on Centene from $85.00 to $80.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Oppenheimer decreased their price objective on shares of Centene from $110.00 to $95.00 and set an “outperform” rating on the stock in a research report on Monday, July 29th. Stephens reissued an “equal weight” rating and issued a $78.00 price target on shares of Centene in a research note on Monday, August 5th. Finally, TD Cowen raised their price objective on shares of Centene from $80.00 to $89.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Centene presently has an average 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.