Commerzbank Aktiengesellschaft FI Sells 8,382 Shares of Centene Corporation $CNC

Commerzbank Aktiengesellschaft FI reduced its stake in shares of Centene Corporation (NYSE:CNC) by 36.9% during the first quarter, Holdings Channel reports. The institutional investor owned 14,303 shares of the company’s stock after selling 8,382 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Centene were worth $468,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. DV Equities LLC purchased a new stake in Centene during the 4th quarter valued at about $26,000. IFC & Insurance Marketing Inc. bought a new stake in Centene in the fourth quarter valued at approximately $28,000. SBI Securities Co. Ltd. boosted its stake in shares of Centene by 118.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 749 shares of the company’s stock valued at $31,000 after purchasing an additional 406 shares during the period. Bayban bought a new position in shares of Centene in the fourth quarter worth approximately $33,000. Finally, MV Capital Management Inc. purchased a new position in shares of Centene in the fourth quarter worth $34,000. Institutional investors own 93.63% of the company’s stock.

Analysts Set New Price Targets

CNC has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft raised shares of Centene from a “hold” rating to a “buy” rating and increased their price target for the company from $53.00 to $80.00 in a research report on Wednesday, May 20th. Raymond James Financial set a $75.00 price objective on shares of Centene in a research note on Tuesday, July 7th. JPMorgan Chase & Co. increased their target price on shares of Centene from $52.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, June 8th. Jefferies Financial Group boosted their price target on Centene from $39.00 to $48.00 and gave the company a “hold” rating in a report on Wednesday, April 29th. Finally, Robert W. Baird increased their price objective on Centene from $36.00 to $37.00 and gave the stock a “neutral” rating in a report on Wednesday, April 15th. Seven investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $64.61.

Centene Trading Down 2.4%

Shares of CNC opened at $65.94 on Thursday. Centene Corporation has a 1-year low of $25.08 and a 1-year high of $69.36. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.76. The firm’s 50-day moving average price is $63.26 and its 200-day moving average price is $49.44. The firm has a market capitalization of $32.56 billion, a price-to-earnings ratio of -5.02, a PEG ratio of 0.53 and a beta of 1.07.

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

Centene 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.