Natixis Advisors LLC Increases Position in Centene Corporation $CNC

Natixis Advisors LLC lifted its position in shares of Centene Corporation (NYSE:CNC) by 26.0% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 525,438 shares of the company’s stock after buying an additional 108,354 shares during the period. Natixis Advisors LLC owned 0.11% of Centene worth $21,622,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CNC. Oracle Investment Management Inc. acquired a new position in shares of Centene during the third quarter worth approximately $3,936,000. Capitolis Liquid Global Markets LLC lifted its position in shares of Centene by 451.2% during the third quarter. Capitolis Liquid Global Markets LLC now owns 181,900 shares of the company’s stock worth $6,490,000 after purchasing an additional 148,900 shares in the last quarter. Alberta Investment Management Corp lifted its position in shares of Centene by 22.1% during the third quarter. Alberta Investment Management Corp now owns 1,075,000 shares of the company’s stock worth $38,356,000 after purchasing an additional 194,300 shares in the last quarter. Counterpoint Mutual Funds LLC lifted its position in shares of Centene by 161.1% during the third quarter. Counterpoint Mutual Funds LLC now owns 91,943 shares of the company’s stock worth $3,281,000 after purchasing an additional 56,730 shares in the last quarter. Finally, Kennondale Capital Management LLC lifted its position in shares of Centene by 500.0% during the third quarter. Kennondale Capital Management LLC now owns 48,978 shares of the company’s stock worth $1,748,000 after purchasing an additional 40,815 shares in the last quarter. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Centene Trading Down 0.6%

CNC opened at $62.35 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market cap of $30.79 billion, a price-to-earnings ratio of -4.75, a price-to-earnings-growth ratio of 0.49 and a beta of 1.09. The firm has a 50 day simple moving average of $48.20 and a 200 day simple moving average of $43.31. Centene Corporation has a fifty-two week low of $25.08 and a fifty-two week high of $63.50.

Centene (NYSE:CNC) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $3.37 earnings per share for the quarter, topping analysts’ consensus estimates of $2.23 by $1.14. The business had revenue of $49.94 billion during the quarter, compared to the consensus estimate of $47.53 billion. Centene had a negative net margin of 3.25% and a positive return on equity of 5.57%. Centene’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.90 earnings per share. On average, sell-side analysts anticipate that Centene Corporation will post 3.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Centene from a “hold” rating to a “buy” rating and upped their target price for the stock from $53.00 to $80.00 in a research report on Wednesday, May 20th. Jefferies Financial Group upped their target price on shares of Centene from $39.00 to $48.00 and gave the stock a “hold” rating in a research report on Wednesday, April 29th. Oppenheimer upped their target price on shares of Centene from $58.00 to $67.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Truist Financial upped their target price on shares of Centene from $58.00 to $71.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. Finally, Sanford C. Bernstein boosted their price target on shares of Centene from $48.00 to $68.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $59.47.

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.