Centene Co. (NYSE:CNC) Holdings Raised by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC grew its stake in shares of Centene Co. (NYSE:CNC) by 21,633.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,520 shares of the company’s stock after acquiring an additional 6,490 shares during the period. Frank Rimerman Advisors LLC’s holdings in Centene were worth $432,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Rise Advisors LLC acquired a new stake in shares of Centene during the 1st quarter valued at about $25,000. WR Wealth Planners LLC increased its stake 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 during the last quarter. Chris Bulman Inc bought a new position in shares of Centene during the 2nd quarter valued at $33,000. Riverview Trust Co boosted its holdings in Centene by 154.6% in the second 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. bought a new position in Centene during the second quarter valued at about $36,000. 93.63% of the stock is currently owned by hedge funds and other institutional investors.

Centene Stock Down 1.2 %

Shares of NYSE:CNC opened at $74.42 on Wednesday. The company’s fifty day moving average is $74.78 and its 200-day moving average is $73.40. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.17 and a current ratio of 1.17. Centene Co. has a 52 week low of $63.45 and a 52 week high of $81.42. The company has a market capitalization of $39.71 billion, a PE ratio of 14.80, a P/E/G ratio of 0.99 and a beta of 0.48.

Centene (NYSE:CNC) last issued 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 firm had revenue of $39.84 billion for the quarter, compared to the consensus estimate of $36.83 billion. Centene had a return on equity of 14.45% and a net margin of 1.79%. Centene’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the company posted $2.10 earnings per share. Equities research analysts predict that Centene Co. will post 6.82 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. StockNews.com raised Centene from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. JPMorgan Chase & Co. dropped their price target on shares of Centene from $85.00 to $80.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Barclays decreased their price objective on shares of Centene from $98.00 to $97.00 and set an “overweight” rating for the company in a report on Thursday, September 5th. 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 report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Centene from $82.00 to $87.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. 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 stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.