Centene Corporation $CNC Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC raised its position in Centene Corporation (NYSE:CNC) by 378.5% in the 3rd quarter, Holdings Channel reports. The fund owned 353,911 shares of the company’s stock after acquiring an additional 279,952 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Centene were worth $13,597,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Centene during the 3rd quarter worth approximately $27,000. Bogart Wealth LLC boosted its stake in shares of Centene by 11,011.1% in the third quarter. Bogart Wealth LLC now owns 1,000 shares of the company’s stock valued at $36,000 after buying an additional 991 shares in the last quarter. Financial Network Wealth Advisors LLC grew its holdings in Centene by 54.9% during the third quarter. Financial Network Wealth Advisors LLC now owns 1,100 shares of the company’s stock worth $39,000 after acquiring an additional 390 shares during the period. Assetmark Inc. raised its position in Centene by 248.2% in the second quarter. Assetmark Inc. now owns 1,156 shares of the company’s stock worth $63,000 after acquiring an additional 824 shares in the last quarter. Finally, GHP Investment Advisors Inc. lifted its holdings in Centene by 265.8% in the second quarter. GHP Investment Advisors Inc. now owns 1,178 shares of the company’s stock valued at $64,000 after acquiring an additional 856 shares during the period. 93.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. TD Cowen reiterated a “hold” rating on shares of Centene in a research report on Friday, October 31st. Barclays set a $44.00 price objective on Centene and gave the company an “equal weight” rating in a research note on Tuesday, November 4th. Wells Fargo & Company set a $43.00 target price on Centene and gave the stock an “equal weight” rating in a research report on Wednesday, January 7th. UBS Group set a $42.00 target price on Centene and gave the company a “neutral” rating in a report on Thursday, October 30th. Finally, Morgan Stanley lifted their price target on Centene from $28.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 14th. Three investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $40.81.

Centene Trading Up 0.2%

Shares of CNC opened at $45.33 on Friday. Centene Corporation has a twelve month low of $25.08 and a twelve month high of $66.81. The firm has a market capitalization of $22.28 billion, a P/E ratio of -4.19, a price-to-earnings-growth ratio of 1.03 and a beta of 0.48. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.83. The stock’s fifty day simple moving average is $40.96 and its 200 day simple moving average is $34.99.

Centene (NYSE:CNC) last posted its 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. Centene had a negative net margin of 2.85% and a positive return on equity of 7.82%. The business had revenue of $49.69 billion for the quarter, compared to analyst estimates of $47.50 billion. During the same quarter in the previous year, the business posted $1.62 EPS. The business’s quarterly revenue was up 18.2% on a year-over-year basis. On average, equities research analysts forecast that Centene Corporation will post 6.86 earnings per share for the current year.

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.