Centene Co. (NYSE:CNC) Shares Sold by Cornerstone Advisors LLC

Cornerstone Advisors LLC lowered its position in shares of Centene Co. (NYSE:CNC) by 5.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,000 shares of the company’s stock after selling 800 shares during the period. Cornerstone Advisors LLC’s holdings in Centene were worth $994,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Hohimer Wealth Management LLC increased its holdings in shares of Centene by 1.1% during the 4th quarter. Hohimer Wealth Management LLC now owns 12,020 shares of the company’s stock worth $892,000 after buying an additional 131 shares during the last quarter. EP Wealth Advisors LLC increased its holdings in shares of Centene by 1.0% during the 1st quarter. EP Wealth Advisors LLC now owns 13,604 shares of the company’s stock worth $1,068,000 after buying an additional 133 shares during the last quarter. WR Wealth Planners LLC increased its holdings in shares of Centene by 41.4% during the 2nd quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock worth $31,000 after buying an additional 137 shares during the last quarter. Whittier Trust Co. increased its holdings in Centene by 10.0% in the 2nd quarter. Whittier Trust Co. now owns 1,562 shares of the company’s stock valued at $104,000 after purchasing an additional 142 shares during the last quarter. Finally, Fidelis Capital Partners LLC increased its holdings in Centene by 5.0% in the 1st quarter. Fidelis Capital Partners LLC now owns 3,316 shares of the company’s stock valued at $260,000 after purchasing an additional 158 shares during the last quarter. Institutional investors and hedge funds own 93.63% of the company’s stock.

Centene Price Performance

Centene stock opened at $76.57 on Tuesday. The stock has a market cap of $40.86 billion, a P/E ratio of 15.22, a price-to-earnings-growth ratio of 0.99 and a beta of 0.48. The company has a fifty day simple moving average of $73.77 and a 200-day simple moving average of $73.52. Centene Co. has a 12-month low of $63.45 and a 12-month high of $81.42. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.64.

Centene (NYSE:CNC) last released its quarterly earnings data on Friday, July 26th. The company reported $2.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.02). The firm had revenue of $39.84 billion for the quarter, compared to analysts’ expectations of $36.83 billion. Centene had a return on equity of 14.45% and a net margin of 1.79%. Centene’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period last year, the firm posted $2.10 earnings per share. Equities analysts expect that Centene Co. will post 6.82 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Centene from $82.00 to $87.00 and gave the company a “hold” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. dropped their target price on shares of Centene from $85.00 to $80.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Stephens reiterated an “equal weight” rating and issued a $78.00 target price on shares of Centene in a report on Monday, August 5th. Wells Fargo & Company dropped their target price on shares of Centene from $93.00 to $91.00 and set an “overweight” rating for the company in a report on Friday. Finally, Oppenheimer dropped their target price on shares of Centene from $110.00 to $95.00 and set an “outperform” rating for the company in a report on Monday, July 29th. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Centene currently has an average rating of “Moderate Buy” and a consensus target price of $85.58.

About Centene

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.