Burney Co. Acquires 2,110 Shares of Centene Corporation (CNC)
Burney Co. increased its holdings in shares of Centene Corporation (NYSE:CNC) by 21.5% in the 4th quarter, Holdings Channel reports. The firm owned 11,915 shares of the company’s stock after acquiring an additional 2,110 shares during the period. Burney Co.’s holdings in Centene were worth $1,202,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Columbus Circle Investors acquired a new position in Centene during the third quarter worth $9,387,000. Trustmark National Bank Trust Department acquired a new position in Centene during the third quarter worth $291,000. Allen Investment Management LLC acquired a new position in Centene during the third quarter worth $327,000. Chicago Equity Partners LLC acquired a new position in Centene during the third quarter worth $2,049,000. Finally, USA Financial Portformulas Corp acquired a new position in Centene during the third quarter worth $3,153,000. Institutional investors and hedge funds own 93.03% of the company’s stock.
CNC has been the subject of several recent research reports. Zacks Investment Research upgraded shares of Centene from a “hold” rating to a “strong-buy” rating and set a $117.00 target price for the company in a report on Tuesday, December 26th. Oppenheimer increased their target price on shares of Centene from $111.00 to $122.00 and gave the stock an “outperform” rating in a report on Wednesday, December 20th. Jefferies Group upped their price target on shares of Centene from $112.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, December 18th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $134.00 price target on shares of Centene in a research report on Monday, December 18th. Finally, ValuEngine raised shares of Centene from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Three investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Centene presently has an average rating of “Buy” and an average price target of $110.28.
Shares of Centene Corporation (NYSE CNC) opened at $100.78 on Friday. The stock has a market cap of $17,390.00, a price-to-earnings ratio of 25.32, a price-to-earnings-growth ratio of 0.96 and a beta of 0.76. Centene Corporation has a 1 year low of $65.03 and a 1 year high of $112.42. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.68.
Centene (NYSE:CNC) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $0.97 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.03. The company had revenue of $12.81 billion for the quarter, compared to analyst estimates of $12.25 billion. Centene had a net margin of 1.71% and a return on equity of 13.68%. The company’s revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.19 earnings per share. equities analysts anticipate that Centene Corporation will post 7.2 EPS for the current fiscal year.
Centene Company Profile
Centene Corporation is a healthcare company. The Company provides a portfolio of services to government sponsored healthcare programs, focusing on under-insured and uninsured individuals. The Company operates through two segments: Managed Care and Specialty Services. The Company’s Managed Care segment provides health plan coverage to individuals, through government subsidized programs, including Medicaid, the State Children’s Health Insurance Program (CHIP), Long Term Care, Foster Care, dual-eligible individuals (Duals) and the Supplemental Security Income Program, also known as the Aged, Blind or Disabled Program (ABD), Medicare, and Health Insurance Marketplace.
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