Centene Corporation $CNC Stake Raised by Kopernik Global Investors LLC

Kopernik Global Investors LLC raised its holdings in shares of Centene Corporation (NYSE:CNC) by 24.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,517,106 shares of the company’s stock after acquiring an additional 492,054 shares during the period. Centene makes up about 5.8% of Kopernik Global Investors LLC’s portfolio, making the stock its 7th biggest position. Kopernik Global Investors LLC owned about 0.51% of Centene worth $82,410,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Baird Financial Group Inc. purchased a new position in Centene during the first quarter valued at approximately $236,000. Sivia Capital Partners LLC lifted its holdings in Centene by 80.0% during the second quarter. Sivia Capital Partners LLC now owns 9,710 shares of the company’s stock valued at $527,000 after purchasing an additional 4,315 shares in the last quarter. CW Advisors LLC boosted its holdings in Centene by 20.3% in the 2nd quarter. CW Advisors LLC now owns 4,863 shares of the company’s stock worth $264,000 after buying an additional 820 shares during the last quarter. NewEdge Advisors LLC increased its stake in Centene by 6.1% during the 2nd quarter. NewEdge Advisors LLC now owns 44,945 shares of the company’s stock worth $2,440,000 after buying an additional 2,582 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its holdings in shares of Centene by 0.4% during the second quarter. Treasurer of the State of North Carolina now owns 231,938 shares of the company’s stock valued at $12,590,000 after acquiring an additional 967 shares during the last quarter. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Centene Stock Performance

NYSE CNC opened at $65.94 on Thursday. The stock’s fifty day moving average is $63.26 and its two-hundred day moving average is $49.44. The firm has a market capitalization of $32.56 billion, a P/E ratio of -5.02, a price-to-earnings-growth ratio of 0.53 and a beta of 1.07. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.12 and a current ratio of 1.12. Centene Corporation has a fifty-two week low of $25.08 and a fifty-two week high of $69.36.

Centene (NYSE:CNC) last issued its earnings results on Tuesday, April 28th. The company reported $3.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $1.14. Centene had a positive return on equity of 5.57% and a negative net margin of 3.25%.The business had revenue of $49.94 billion during the quarter, compared to the consensus estimate of $47.53 billion. During the same period last year, the company earned $2.90 EPS. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, research analysts anticipate that Centene Corporation will post 3.44 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. JPMorgan Chase & Co. boosted their price target on Centene from $52.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, June 8th. Robert W. Baird lifted their target price on shares of Centene from $36.00 to $37.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 15th. Oppenheimer upped their target price on shares of Centene from $58.00 to $67.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Raymond James Financial set a $75.00 target price on shares of Centene in a research report on Tuesday, July 7th. 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 report on Tuesday, May 5th. Seven equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $64.61.

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.