Meiji Yasuda Asset Management Co Ltd. increased its stake in Centene Corp (NYSE:CNC) by 389.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,550 shares of the company’s stock after acquiring an additional 10,780 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Centene were worth $720,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the business. Wealthfront Advisers LLC grew its stake in shares of Centene by 104.6% in the 1st quarter. Wealthfront Advisers LLC now owns 12,346 shares of the company’s stock worth $656,000 after acquiring an additional 6,312 shares in the last quarter. GMT Capital Corp boosted its holdings in shares of Centene by 48.0% in the 1st quarter. GMT Capital Corp now owns 959,020 shares of the company’s stock worth $50,924,000 after buying an additional 311,030 shares during the last quarter. Burney Co. boosted its holdings in shares of Centene by 554.3% in the 1st quarter. Burney Co. now owns 64,045 shares of the company’s stock worth $3,401,000 after buying an additional 54,256 shares during the last quarter. Trexquant Investment LP purchased a new position in shares of Centene in the 1st quarter worth about $8,537,000. Finally, Tyers Asset Management LLC boosted its holdings in shares of Centene by 71.9% in the 1st quarter. Tyers Asset Management LLC now owns 306,112 shares of the company’s stock worth $16,254,000 after buying an additional 128,016 shares during the last quarter. Institutional investors and hedge funds own 90.75% of the company’s stock.
Shares of CNC opened at $53.95 on Friday. Centene Corp has a twelve month low of $45.44 and a twelve month high of $74.49. The stock has a market cap of $22.19 billion, a PE ratio of 15.24, a P/E/G ratio of 0.91 and a beta of 1.00. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.58.
Centene (NYSE:CNC) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.07. Centene had a return on equity of 14.60% and a net margin of 1.66%. The firm had revenue of $18.44 billion for the quarter, compared to analysts’ expectations of $17.44 billion. During the same period in the prior year, the business posted $2.17 earnings per share. The company’s revenue was up 39.8% on a year-over-year basis. As a group, sell-side analysts predict that Centene Corp will post 4.37 earnings per share for the current fiscal year.
CNC has been the topic of several recent research reports. Cowen initiated coverage on shares of Centene in a report on Thursday, February 28th. They set an “outperform” rating and a $77.00 price objective on the stock. Cantor Fitzgerald reaffirmed a “buy” rating and set a $83.00 price objective on shares of Centene in a report on Wednesday, February 27th. ValuEngine raised shares of Centene from a “sell” rating to a “hold” rating in a report on Friday, March 1st. Zacks Investment Research raised shares of Centene from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a report on Tuesday, May 28th. Finally, Citigroup raised shares of Centene from a “neutral” rating to a “buy” rating and set a $69.00 price objective on the stock in a report on Friday, May 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $75.69.
Centene Company Profile
Centene Corporation operates as a diversified and multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. The company's Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term services and support, foster care, and medicare-medicaid plans, which covers dually eligible individuals, as well as aged, blind, or disabled programs.
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