Centene Co. (NYSE:CNC) Position Trimmed by Atlas Capital Advisors LLC

Atlas Capital Advisors LLC trimmed its position in shares of Centene Co. (NYSE:CNC) by 19.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,455 shares of the company’s stock after selling 2,049 shares during the quarter. Atlas Capital Advisors LLC’s holdings in Centene were worth $561,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Rise Advisors LLC bought a new position in shares of Centene in the first quarter worth about $25,000. Riverview Trust Co increased its position in Centene by 154.6% during the second quarter. Riverview Trust Co now owns 527 shares of the company’s stock worth $35,000 after acquiring an additional 320 shares during the period. Neo Ivy Capital Management bought a new position in shares of Centene during the 4th quarter worth about $40,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Centene during the second quarter valued at about $36,000. Finally, Access Investment Management LLC acquired a new stake in Centene during the fourth quarter worth about $44,000. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Centene Price Performance

Centene stock opened at $78.83 on Friday. The stock has a market cap of $42.07 billion, a price-to-earnings ratio of 15.67, a P/E/G ratio of 1.00 and a beta of 0.50. Centene Co. has a 12-month low of $60.83 and a 12-month high of $81.42. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.64. The business’s 50-day simple moving average is $72.11 and its 200 day simple moving average is $73.94.

Centene (NYSE:CNC) last issued its quarterly earnings results on Friday, July 26th. The company reported $2.42 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.02). Centene had a return on equity of 14.45% and a net margin of 1.79%. The business had revenue of $39.84 billion for the quarter, compared to analyst estimates of $36.83 billion. During the same quarter in the prior year, the firm earned $2.10 EPS. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. As a group, research analysts anticipate that Centene Co. will post 6.84 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on CNC. Robert W. Baird started coverage on shares of Centene in a research note on Thursday, May 30th. They set a “neutral” rating and a $83.00 price target on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of Centene from $82.00 to $87.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. Baird R W raised Centene to a “hold” rating in a report on Thursday, May 30th. Barclays increased their target price on Centene from $90.00 to $98.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Finally, Oppenheimer cut their price objective on Centene from $110.00 to $95.00 and set an “outperform” rating for the company in a report on Monday, July 29th. Eight investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $84.77.

Centene Profile

Centene Corporation operates as a healthcare enterprise that provides programs and services to under-insured and uninsured families, commercial organizations, and military families in the United States. The company operates through Medicaid, Medicare, Commercial, and Other segments. The Medicaid segment offers health plan coverage, including medicaid expansion, aged, blind, disabled, children’s health insurance program, foster care, medicare-medicaid plans, long-term services and support.