Wright Investors Service Inc. Sells 260 Shares of Centene Co. (NYSE:CNC)

Wright Investors Service Inc. lowered its position in Centene Co. (NYSE:CNC) by 2.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 12,757 shares of the company’s stock after selling 260 shares during the period. Wright Investors Service Inc.’s holdings in Centene were worth $960,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Rise Advisors LLC bought a new position in shares of Centene during the first quarter valued at approximately $25,000. WR Wealth Planners LLC raised its holdings in shares of Centene by 41.4% in the 2nd quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock valued at $31,000 after purchasing an additional 137 shares in the last quarter. Chris Bulman Inc bought a new position in shares of Centene during the second quarter valued at approximately $33,000. Riverview Trust Co raised its stake 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 buying an additional 320 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Centene during the 2nd quarter worth $36,000. 93.63% of the stock is owned by hedge funds and other institutional investors.

Centene Trading Up 0.1 %

NYSE CNC traded up $0.04 during mid-day trading on Friday, reaching $72.08. 4,578,401 shares of the stock were exchanged, compared to its average volume of 3,559,960. Centene Co. has a 1-year low of $63.45 and a 1-year high of $81.42. The business’s fifty day simple moving average is $75.80 and its 200 day simple moving average is $73.24. 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 stock has a market capitalization of $38.47 billion, a PE ratio of 14.33, a PEG ratio of 1.02 and a beta of 0.48.

Centene (NYSE:CNC) last released its quarterly earnings data on Friday, July 26th. The company reported $2.42 EPS for the quarter, missing the consensus estimate 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 revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period last year, the business earned $2.10 earnings per share. On average, research analysts anticipate that Centene Co. will post 6.8 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have issued reports on CNC shares. TD Cowen lifted their price target on shares of Centene from $80.00 to $89.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Truist Financial dropped their price objective on shares of Centene from $92.00 to $89.00 and set a “buy” rating on the stock in a report on Monday, July 15th. Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 price target on shares of Centene in a report on Tuesday. Deutsche Bank Aktiengesellschaft increased their price target on Centene from $82.00 to $87.00 and gave the company a “hold” rating in a report on Friday, August 2nd. Finally, Stephens reaffirmed an “equal weight” rating and issued a $78.00 target price on shares of Centene in a research report on Monday, August 5th. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $85.58.

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.