Evolve Private Wealth LLC Buys Shares of 64,624 Centene Corporation $CNC

Evolve Private Wealth LLC purchased a new position in shares of Centene Corporation (NYSE:CNC) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 64,624 shares of the company’s stock, valued at approximately $2,659,000.

Several other large investors have also recently added to or reduced their stakes in CNC. DV Equities LLC acquired a new stake in shares of Centene in the fourth quarter valued at $26,000. IFC & Insurance Marketing Inc. purchased a new stake in Centene during the 4th quarter worth about $28,000. SBI Securities Co. Ltd. raised its position in Centene by 118.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 749 shares of the company’s stock valued at $31,000 after purchasing an additional 406 shares in the last quarter. Ameriflex Group Inc. grew its position in shares of Centene by 152.5% during the third quarter. Ameriflex Group Inc. now owns 1,010 shares of the company’s stock worth $36,000 after buying an additional 610 shares in the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new stake in shares of Centene during the fourth quarter worth approximately $37,000. 93.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on CNC shares. The Goldman Sachs Group reiterated a “sell” rating and issued a $40.00 price target on shares of Centene in a research note on Wednesday, April 29th. Barclays restated an “overweight” rating on shares of Centene in a report on Tuesday. Zacks Research upgraded shares of Centene from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 6th. Oppenheimer raised their price target on Centene from $58.00 to $67.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Finally, JPMorgan Chase & Co. upped their price objective on Centene from $52.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $60.24.

Centene Trading Down 1.4%

NYSE CNC opened at $60.52 on Thursday. Centene Corporation has a 12 month low of $25.08 and a 12 month high of $66.55. The company has a market capitalization of $29.88 billion, a price-to-earnings ratio of -4.61, a price-to-earnings-growth ratio of 0.48 and a beta of 1.09. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.12 and a quick ratio of 1.12. The firm’s fifty day moving average price is $53.03 and its 200 day moving average price is $44.83.

Centene (NYSE:CNC) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $1.14. Centene had a positive return on equity of 5.57% and a negative net margin of 3.25%.The company had revenue of $49.94 billion for the quarter, compared to analyst estimates of $47.53 billion. During the same quarter last year, the company posted $2.90 earnings per share. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, sell-side analysts expect that Centene Corporation will post 3.45 earnings per share for the current fiscal year.

Centene Profile

Centene Corporation (NYSE: CNC) is a diversified, multi-national healthcare enterprise that specializes in providing services to government-sponsored and national health programs. The company primarily acts as a managed care organization, delivering healthcare coverage and administering benefits for Medicaid, the Children’s Health Insurance Program (CHIP), Medicare Advantage, and individual marketplace plans. Centene also contracts with federal and state agencies to manage specialty care programs and community-based services for vulnerable populations.

Centene’s offerings extend beyond traditional insurance to include a range of specialty and support services.