MASTERINVEST Kapitalanlage GmbH Boosts Stake in Centene Corporation $CNC

MASTERINVEST Kapitalanlage GmbH lifted its holdings in shares of Centene Corporation (NYSE:CNC) by 35.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 51,331 shares of the company’s stock after acquiring an additional 13,535 shares during the quarter. MASTERINVEST Kapitalanlage GmbH’s holdings in Centene were worth $1,831,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Oregon Public Employees Retirement Fund lifted its stake in Centene by 24.1% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 53,266 shares of the company’s stock valued at $1,901,000 after acquiring an additional 10,356 shares during the period. Cromwell Holdings LLC bought a new position in Centene during the third quarter valued at approximately $62,000. State of Alaska Department of Revenue boosted its holdings in Centene by 28.0% in the third quarter. State of Alaska Department of Revenue now owns 110,386 shares of the company’s stock worth $3,937,000 after purchasing an additional 24,177 shares during the last quarter. Nisa Investment Advisors LLC grew its position in Centene by 6.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 202,825 shares of the company’s stock worth $7,237,000 after purchasing an additional 11,747 shares during the period. Finally, SG Americas Securities LLC raised its stake in Centene by 156.6% during the 3rd quarter. SG Americas Securities LLC now owns 168,871 shares of the company’s stock valued at $6,025,000 after buying an additional 103,062 shares during the last quarter. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Centene Trading Down 0.7%

Shares of NYSE:CNC opened at $46.58 on Friday. The stock has a 50 day moving average of $39.17 and a 200 day moving average of $35.08. The company has a market cap of $22.90 billion, a PE ratio of -4.31, a price-to-earnings-growth ratio of 1.07 and a beta of 0.48. Centene Corporation has a 12-month low of $25.08 and a 12-month high of $66.81. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.83.

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

Wall Street Analysts Forecast Growth

CNC has been the subject of several research analyst reports. Wells Fargo & Company set a $43.00 price objective on Centene and gave the stock an “equal weight” rating in a report on Wednesday. JPMorgan Chase & Co. raised their target price on Centene from $30.00 to $38.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 4th. Mizuho set a $47.00 price target on shares of Centene in a research report on Friday. Cowen reiterated a “hold” rating on shares of Centene in a research note on Friday, October 31st. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Centene in a research report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $40.38.

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.