Mediolanum International Funds Ltd Sells 4,778 Shares of Centene Co. (NYSE:CNC)

Mediolanum International Funds Ltd decreased its stake in Centene Co. (NYSE:CNC) by 7.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,858 shares of the company’s stock after selling 4,778 shares during the period. Mediolanum International Funds Ltd’s holdings in Centene were worth $4,680,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Park Place Capital Corp boosted its position in shares of Centene by 1,190.0% during the 3rd quarter. Park Place Capital Corp now owns 387 shares of the company’s stock valued at $29,000 after purchasing an additional 357 shares in the last quarter. WR Wealth Planners LLC boosted its stake 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. Chris Bulman Inc bought a new stake in shares of Centene in the second quarter valued at $33,000. Riverview Trust Co boosted its position in Centene by 154.6% during the second quarter. Riverview Trust Co now owns 527 shares of the company’s stock worth $35,000 after purchasing an additional 320 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in Centene in the 2nd quarter valued at approximately $36,000. Institutional investors own 93.63% of the company’s stock.

Centene Stock Up 4.2 %

NYSE:CNC opened at $64.22 on Friday. The company’s 50-day simple moving average is $72.88 and its 200-day simple moving average is $72.31. 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 fifty-two week low of $59.77 and a fifty-two week high of $81.42. The stock has a market capitalization of $34.27 billion, a P/E ratio of 12.77, a P/E/G ratio of 0.98 and a beta of 0.48.

Centene (NYSE:CNC) last announced its quarterly earnings data on Friday, October 25th. The company reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.23. The firm had revenue of $42.02 billion during the quarter, compared to analysts’ expectations of $37.91 billion. Centene had a return on equity of 14.45% and a net margin of 1.79%. On average, equities analysts anticipate that Centene Co. will post 6.8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CNC has been the topic of several analyst reports. Robert W. Baird decreased their price target on Centene from $83.00 to $66.00 and set a “neutral” rating on the stock in a research report on Friday. Barclays reduced their target price on shares of Centene from $98.00 to $97.00 and set an “overweight” rating on the stock in a report on Thursday, September 5th. Oppenheimer lowered their price objective on Centene from $110.00 to $95.00 and set an “outperform” rating for the company in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Centene from $82.00 to $87.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Finally, TD Cowen upped their target price on Centene from $80.00 to $89.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Seven 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 data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.17.

About Centene

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.