Centene Co. (NYSE:CNC) Shares Bought by Rhumbline Advisers

Rhumbline Advisers lifted its position in shares of Centene Co. (NYSE:CNC) by 3.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,196,374 shares of the company’s stock after purchasing an additional 41,209 shares during the period. Rhumbline Advisers owned about 0.23% of Centene worth $79,319,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Rise Advisors LLC purchased a new stake in shares of Centene during the 1st quarter worth approximately $25,000. WR Wealth Planners LLC lifted its position in 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 last quarter. Riverview Trust Co boosted its stake in Centene by 154.6% in the second quarter. Riverview Trust Co now owns 527 shares of the company’s stock valued at $35,000 after acquiring an additional 320 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Centene during the second quarter worth about $36,000. Finally, Neo Ivy Capital Management purchased a new stake in shares of Centene in the 4th quarter valued at about $40,000. Institutional investors and hedge funds own 93.63% of the company’s stock.

Centene Price Performance

Shares of NYSE CNC opened at $73.26 on Thursday. The company’s fifty day moving average is $72.69 and its two-hundred day moving average is $73.91. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.17 and a current ratio of 1.17. The firm has a market capitalization of $39.10 billion, a P/E ratio of 14.56, a PEG ratio of 1.06 and a beta of 0.50. Centene Co. has a one year low of $61.31 and a one year high of $81.42.

Centene (NYSE:CNC) last issued its earnings results on Friday, July 26th. The company reported $2.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.02). The company had revenue of $39.84 billion during 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 last year, the business posted $2.10 earnings per share. Analysts forecast that Centene Co. will post 6.84 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $90.00 price target on shares of Centene in a research report on Monday, August 19th. TD Cowen upped their price target 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. Oppenheimer lowered 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. Truist Financial decreased their target price on shares of Centene from $92.00 to $89.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Finally, Baird R W upgraded Centene to a “hold” rating in a research report on Thursday, May 30th. Eight analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.77.

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.