Oppenheimer Asset Management Inc. Has $11.03 Million Stock Holdings in Centene Corporation (NYSE:CNC)

Oppenheimer Asset Management Inc. boosted its holdings in shares of Centene Corporation (NYSE:CNC) by 16.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 181,648 shares of the company’s stock after acquiring an additional 26,282 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Centene were worth $11,028,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Flagship Harbor Advisors LLC acquired a new stake in Centene during the 1st quarter worth $237,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Centene in the 1st quarter valued at $891,000. Blue Trust Inc. grew its holdings in shares of Centene by 62.6% in the 1st quarter. Blue Trust Inc. now owns 8,621 shares of the company’s stock valued at $523,000 after buying an additional 3,318 shares during the period. ORG Wealth Partners LLC acquired a new position in shares of Centene in the 1st quarter valued at $73,000. Finally, Envestnet Portfolio Solutions Inc. grew its holdings in shares of Centene by 3.5% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 75,130 shares of the company’s stock valued at $4,561,000 after buying an additional 2,530 shares during the period. Institutional investors and hedge funds own 93.63% of the company’s stock.

Centene Trading Down 1.8%

Centene stock opened at $53.44 on Tuesday. The firm has a 50-day moving average of $58.30 and a 200-day moving average of $59.73. Centene Corporation has a one year low of $52.93 and a one year high of $80.59. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market cap of $26.59 billion, a price-to-earnings ratio of 7.96, a P/E/G ratio of 0.65 and a beta of 0.45.

Centene (NYSE:CNC) last posted its quarterly earnings data on Friday, April 25th. The company reported $2.90 EPS for the quarter, topping analysts’ consensus estimates of $2.52 by $0.38. Centene had a net margin of 2.04% and a return on equity of 14.56%. The company had revenue of $46.62 billion during the quarter, compared to the consensus estimate of $43.16 billion. During the same period in the prior year, the business posted $2.26 EPS. The company’s quarterly revenue was up 15.4% on a year-over-year basis. On average, equities analysts expect that Centene Corporation will post 6.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CNC shares. Barclays reissued an “equal weight” rating and issued a $65.00 price target (down previously from $84.00) on shares of Centene in a report on Monday, June 2nd. Wall Street Zen lowered shares of Centene from a “strong-buy” rating to a “buy” rating in a report on Monday, April 28th. Jefferies Financial Group decreased their price target on shares of Centene from $64.00 to $61.00 and set a “hold” rating for the company in a report on Tuesday, April 29th. Robert W. Baird decreased their price target on shares of Centene from $71.00 to $69.00 and set a “neutral” rating for the company in a report on Tuesday, April 15th. Finally, Morgan Stanley started coverage on shares of Centene in a research note on Monday, June 9th. They issued an “overweight” rating and a $70.00 target price for the company. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $77.71.

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.