New Mexico Educational Retirement Board boosted its holdings in Centene Corporation (NYSE:CNC) by 3.8% during the 4th quarter, HoldingsChannel reports. The fund owned 16,600 shares of the company’s stock after purchasing an additional 600 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Centene were worth $1,675,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the business. Elk Creek Partners LLC raised its position in Centene by 11.5% in the third quarter. Elk Creek Partners LLC now owns 5,264 shares of the company’s stock worth $509,000 after acquiring an additional 542 shares in the last quarter. Mutual of America Capital Management LLC raised its position in Centene by 1.6% in the third quarter. Mutual of America Capital Management LLC now owns 34,834 shares of the company’s stock worth $3,371,000 after acquiring an additional 562 shares in the last quarter. Savant Capital LLC raised its position in Centene by 19.7% in the third quarter. Savant Capital LLC now owns 3,580 shares of the company’s stock worth $346,000 after acquiring an additional 590 shares in the last quarter. CIBC Asset Management Inc raised its position in Centene by 4.0% in the third quarter. CIBC Asset Management Inc now owns 16,475 shares of the company’s stock worth $1,594,000 after acquiring an additional 630 shares in the last quarter. Finally, Eqis Capital Management Inc. raised its position in Centene by 5.1% in the fourth quarter. Eqis Capital Management Inc. now owns 13,862 shares of the company’s stock worth $1,398,000 after acquiring an additional 672 shares in the last quarter. Hedge funds and other institutional investors own 93.03% of the company’s stock.
Several equities research analysts have commented on the stock. Morgan Stanley boosted their price target on shares of Centene from $118.00 to $126.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. ValuEngine upgraded Centene from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Goldman Sachs Group began coverage on Centene in a report on Wednesday, January 3rd. They set a “buy” rating and a $135.00 price objective on the stock. Credit Suisse Group boosted their price objective on Centene from $110.00 to $112.00 and gave the stock a “neutral” rating in a report on Wednesday, February 7th. Finally, Oppenheimer restated a “buy” rating and set a $111.00 price objective on shares of Centene in a report on Friday, December 15th. Three research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Centene currently has an average rating of “Buy” and an average price target of $110.28.
Shares of Centene Corporation (NYSE:CNC) opened at $100.22 on Monday. The company has a market capitalization of $17,381.86, a P/E ratio of 19.92, a P/E/G ratio of 0.96 and a beta of 0.71. Centene Corporation has a 12 month low of $65.03 and a 12 month high of $112.42. The company has a quick ratio of 0.99, a current ratio of 0.93 and a debt-to-equity ratio of 0.68.
Centene (NYSE:CNC) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $0.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.03. The business had revenue of $12.81 billion during the quarter, compared to analysts’ expectations of $12.25 billion. Centene had a return on equity of 13.68% and a net margin of 1.71%. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.19 EPS. research analysts expect that Centene Corporation will post 7.2 earnings per share for the current year.
In other Centene news, Director Robert K. Ditmore sold 8,750 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $104.13, for a total transaction of $911,137.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jesse N. Hunter sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $98.73, for a total value of $987,300.00. The disclosure for this sale can be found here. Insiders have sold 32,500 shares of company stock valued at $3,311,613 in the last ninety days. Company insiders own 3.00% of the company’s stock.
Centene Corporation is a healthcare company. The Company provides a portfolio of services to government sponsored healthcare programs, focusing on under-insured and uninsured individuals. The Company operates through two segments: Managed Care and Specialty Services. The Company’s Managed Care segment provides health plan coverage to individuals, through government subsidized programs, including Medicaid, the State Children’s Health Insurance Program (CHIP), Long Term Care, Foster Care, dual-eligible individuals (Duals) and the Supplemental Security Income Program, also known as the Aged, Blind or Disabled Program (ABD), Medicare, and Health Insurance Marketplace.
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