Fideuram Intesa Sanpaolo Private Banking S.P.A. Takes Position in Centene Corporation $CNC

Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in Centene Corporation (NYSE:CNC) during the 4th quarter, Holdings Channel.com reports. The firm bought 46,507 shares of the company’s stock, valued at approximately $1,914,000.

Several other institutional investors have also recently bought and sold shares of CNC. AQR Capital Management LLC lifted its stake in Centene by 76.6% in the 3rd quarter. AQR Capital Management LLC now owns 14,654,834 shares of the company’s stock valued at $522,885,000 after acquiring an additional 6,356,152 shares in the last quarter. Deerfield Management Company L.P. lifted its stake in Centene by 184.0% in the 3rd quarter. Deerfield Management Company L.P. now owns 9,046,000 shares of the company’s stock valued at $322,761,000 after acquiring an additional 5,860,630 shares in the last quarter. 8 Knots Management LLC bought a new stake in Centene in the 3rd quarter valued at approximately $186,662,000. Arrowstreet Capital Limited Partnership lifted its stake in Centene by 32.0% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 8,716,056 shares of the company’s stock valued at $310,989,000 after acquiring an additional 2,111,674 shares in the last quarter. Finally, Long Focus Capital Management LLC lifted its stake in Centene by 705.4% in the 3rd quarter. Long Focus Capital Management LLC now owns 2,299,000 shares of the company’s stock valued at $82,028,000 after acquiring an additional 2,013,560 shares in the last quarter. Institutional investors own 93.63% of the company’s stock.

Centene Price Performance

NYSE:CNC opened at $57.72 on Friday. Centene Corporation has a 1-year low of $25.08 and a 1-year high of $60.76. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.76. The firm has a fifty day simple moving average of $42.60 and a 200 day simple moving average of $41.51. The stock has a market capitalization of $28.50 billion, a PE ratio of -4.39, a P/E/G ratio of 1.13 and a beta of 1.06.

Centene (NYSE:CNC) last posted its earnings results on Tuesday, April 28th. The company reported $3.37 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $49.94 billion for the quarter, compared to analyst estimates of $47.53 billion. During the same period in the previous year, the firm earned $2.90 EPS. The firm’s revenue was up 7.1% compared to the same quarter last year. On average, research analysts expect that Centene Corporation will post 3.45 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on CNC. Barclays restated an “overweight” rating and issued a $63.00 target price (up from $54.00) on shares of Centene in a research note on Wednesday, April 29th. Robert W. Baird boosted their target price on Centene from $36.00 to $37.00 and gave the company a “neutral” rating in a research note on Wednesday, April 15th. JPMorgan Chase & Co. boosted their target price on Centene from $41.00 to $52.00 and gave the company a “neutral” rating in a research note on Tuesday, May 5th. Wells Fargo & Company boosted their price target on Centene from $44.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Finally, UBS Group upped their price objective on Centene from $42.00 to $55.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $56.59.

Centene Company 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.