Centene Corporation $CNC is Dynamic Technology Lab Private Ltd’s 10th Largest Position

Dynamic Technology Lab Private Ltd grew its position in shares of Centene Corporation (NYSE:CNC) by 260.3% during the second quarter, Holdings Channel reports. The institutional investor owned 70,481 shares of the company’s stock after purchasing an additional 50,920 shares during the quarter. Centene accounts for 0.5% of Dynamic Technology Lab Private Ltd’s holdings, making the stock its 10th largest holding. Dynamic Technology Lab Private Ltd’s holdings in Centene were worth $3,826,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Centene by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 58,396,605 shares of the company’s stock worth $3,169,768,000 after buying an additional 869,706 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Centene by 2.2% in the second quarter. Geode Capital Management LLC now owns 13,208,639 shares of the company’s stock worth $718,547,000 after acquiring an additional 279,637 shares during the period. Invesco Ltd. grew its position in shares of Centene by 5.1% in the first quarter. Invesco Ltd. now owns 11,091,964 shares of the company’s stock valued at $673,393,000 after purchasing an additional 536,508 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Centene by 42.7% during the 1st quarter. AQR Capital Management LLC now owns 11,049,494 shares of the company’s stock worth $669,820,000 after purchasing an additional 3,306,796 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Centene by 3.1% during 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 valued at $292,045,000 after buying an additional 143,573 shares in the last quarter. Institutional investors own 93.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Mizuho raised their price objective on shares of Centene from $28.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, October 9th. Barclays set a $44.00 price target on shares of Centene and gave the company an “equal weight” rating in a report on Tuesday, November 4th. Cowen reaffirmed a “hold” rating on shares of Centene in a report on Friday, October 31st. Jefferies Financial Group lifted their price objective on Centene from $25.00 to $32.00 in a research note on Monday, November 3rd. Finally, TD Cowen upped their target price on Centene from $30.00 to $34.00 and gave the stock a “hold” rating in a research note on Friday, October 31st. Three equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $39.47.

Centene Stock Down 2.6%

CNC opened at $35.95 on Thursday. The business’s fifty day simple moving average is $35.35 and its 200 day simple moving average is $39.41. Centene Corporation has a 52 week low of $25.08 and a 52 week high of $66.81. The company has a quick ratio of 1.10, a current ratio of 1.08 and a debt-to-equity ratio of 0.83. The stock has a market cap of $17.67 billion, a PE ratio of -3.32, a P/E/G ratio of 1.24 and a beta of 0.49.

Centene (NYSE:CNC) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of ($0.21) by $0.71. The firm had revenue of $49.69 billion for the quarter, compared to analyst estimates of $47.50 billion. Centene had a positive return on equity of 7.82% and a negative net margin of 2.85%.The company’s revenue was up 18.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.62 EPS. As a group, research analysts expect that Centene Corporation will post 6.86 earnings per share for the current fiscal year.

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.