Thoroughbred Financial Services LLC Makes New $231,000 Investment in Centene Corporation $CNC

Thoroughbred Financial Services LLC purchased a new stake in Centene Corporation (NYSE:CNC) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 4,266 shares of the company’s stock, valued at approximately $231,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Polianta Ltd purchased a new position in Centene during the 2nd quarter worth $1,253,000. Oliver Luxxe Assets LLC purchased a new stake in shares of Centene during the second quarter worth about $4,033,000. Focus Partners Wealth increased its holdings in shares of Centene by 83.1% during the first quarter. Focus Partners Wealth now owns 42,270 shares of the company’s stock valued at $2,566,000 after acquiring an additional 19,181 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Centene by 3.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,810,489 shares of the company’s stock worth $292,045,000 after purchasing an additional 143,573 shares in the last quarter. Finally, Focused Investors LLC grew its position in Centene by 19.9% during the 2nd quarter. Focused Investors LLC now owns 1,250,000 shares of the company’s stock worth $67,850,000 after purchasing an additional 207,600 shares during the last quarter. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Centene Trading Down 0.3%

Centene stock opened at $36.98 on Wednesday. The firm has a market cap of $18.18 billion, a PE ratio of -3.42, a P/E/G ratio of 1.24 and a beta of 0.49. Centene Corporation has a 12 month low of $25.08 and a 12 month high of $66.81. The stock’s 50 day simple moving average is $35.26 and its two-hundred day simple moving average is $39.43. The company has a current ratio of 1.08, a quick ratio of 1.10 and a debt-to-equity ratio of 0.83.

Centene (NYSE:CNC) last posted its earnings results on Wednesday, October 29th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.71. The firm had revenue of $49.69 billion during the quarter, compared to analysts’ expectations of $47.50 billion. Centene had a negative net margin of 2.85% and a positive return on equity of 7.82%. The business’s revenue was up 18.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.62 EPS. Analysts anticipate that Centene Corporation will post 6.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CNC has been the subject of several research reports. UBS Group set a $42.00 price objective on shares of Centene and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Cantor Fitzgerald raised their price objective on Centene from $38.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Jefferies Financial Group upped their target price on Centene from $25.00 to $32.00 in a research report on Monday, November 3rd. Barclays set a $44.00 price target on shares of Centene and gave the stock an “equal weight” rating in a research report on Tuesday, November 4th. Finally, TD Cowen upped their price objective on shares of Centene from $30.00 to $34.00 and gave the company a “hold” rating in a report on Friday, October 31st. Three research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $39.47.

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.