Roberts Glore & Co. Inc. IL Buys New Stake in Centene Corporation $CNC

Roberts Glore & Co. Inc. IL purchased a new position in Centene Corporation (NYSE:CNC) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 25,845 shares of the company’s stock, valued at approximately $1,659,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CNC. DV Equities LLC purchased a new stake in Centene in the fourth quarter valued at about $26,000. IFC & Insurance Marketing Inc. purchased a new stake in shares of Centene during the fourth quarter worth about $28,000. SBI Securities Co. Ltd. increased its holdings 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 acquiring an additional 406 shares in the last quarter. MidFirst Bank purchased a new position in shares of Centene in the 2nd quarter valued at approximately $32,000. Finally, Bayban acquired a new stake in Centene in the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Centene Price Performance

NYSE:CNC opened at $64.92 on Wednesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.15 and a quick ratio of 1.15. The company has a 50 day moving average price of $65.08 and a 200-day moving average price of $52.80. Centene Corporation has a 1-year low of $28.24 and a 1-year high of $69.36. The firm has a market cap of $32.07 billion, a price-to-earnings ratio of -6.22, a price-to-earnings-growth ratio of 0.35 and a beta of 1.08.

Centene (NYSE:CNC) last released its quarterly earnings results on Monday, July 27th. The company reported $2.51 EPS for the quarter, beating the consensus estimate of $1.09 by $1.42. Centene had a negative net margin of 2.51% and a positive return on equity of 12.12%. The company had revenue of $53.58 billion for the quarter, compared to analyst estimates of $47.64 billion. During the same quarter last year, the business earned ($0.16) earnings per share. The firm’s revenue was up 9.9% on a year-over-year basis. Equities research analysts forecast that Centene Corporation will post 4.89 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Sanford C. Bernstein restated an “outperform” rating and set a $79.00 price target (up from $68.00) on shares of Centene in a research note on Monday, August 3rd. Weiss Ratings reissued a “sell (d)” rating on shares of Centene in a research report on Friday, July 17th. Royal Bank Of Canada lifted their price target on Centene from $70.00 to $71.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 9th. Truist Financial increased their price objective on Centene from $71.00 to $78.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Finally, Mizuho set a $63.00 price objective on Centene and gave the stock a “neutral” rating in a research note on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $70.05.

Insider Activity at Centene

In related news, General Counsel Christopher Koster sold 47,603 shares of Centene stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $65.36, for a total value of $3,111,332.08. Following the completion of the transaction, the general counsel owned 305,354 shares in the company, valued at $19,957,937.44. The trade was a 13.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.37% of the stock is owned by company insiders.

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.