Barden Capital Management Inc. Has $1.76 Million Stock Holdings in Centene Co. (NYSE:CNC)

Barden Capital Management Inc. increased its stake in Centene Co. (NYSE:CNC) by 3.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,360 shares of the company’s stock after purchasing an additional 787 shares during the quarter. Centene makes up 1.5% of Barden Capital Management Inc.’s investment portfolio, making the stock its 26th largest holding. Barden Capital Management Inc.’s holdings in Centene were worth $1,759,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Park Place Capital Corp lifted its stake in Centene by 1,190.0% in the 3rd quarter. Park Place Capital Corp now owns 387 shares of the company’s stock worth $29,000 after acquiring an additional 357 shares in the last quarter. WR Wealth Planners LLC lifted its position in shares of Centene by 41.4% in the second quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock worth $31,000 after purchasing an additional 137 shares in the last quarter. Chris Bulman Inc acquired a new stake in shares of Centene during the second quarter worth approximately $33,000. Riverview Trust Co grew its position in Centene by 154.6% during the second quarter. Riverview Trust Co now owns 527 shares of the company’s stock valued at $35,000 after purchasing an additional 320 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Centene in the 2nd quarter worth approximately $36,000. 93.63% of the stock is owned by hedge funds and other institutional investors.

Centene Trading Down 1.6 %

Centene stock opened at $62.02 on Monday. The business’s 50-day simple moving average is $74.44 and its 200-day simple moving average is $72.69. Centene Co. has a 52 week low of $61.62 and a 52 week high of $81.42. The firm has a market capitalization of $33.10 billion, a PE ratio of 12.33, a PEG ratio of 0.98 and a beta of 0.48. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.17 and a current ratio of 1.17.

Centene (NYSE:CNC) last announced its earnings results on Friday, July 26th. The company reported $2.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.02). Centene had a return on equity of 14.45% and a net margin of 1.79%. The company had revenue of $39.84 billion for the quarter, compared to the consensus estimate of $36.83 billion. During the same period last year, the firm posted $2.10 EPS. The company’s revenue was up 5.9% compared to the same quarter last year. Equities research analysts forecast that Centene Co. will post 6.8 earnings per share for the current year.

Analyst Upgrades and Downgrades

CNC has been the topic of a number of research reports. Barclays dropped their price target on shares of Centene from $98.00 to $97.00 and set an “overweight” rating on the stock in a research note on Thursday, September 5th. Stephens reiterated an “equal weight” rating and set a $78.00 price target on shares of Centene in a report on Monday, August 5th. Jefferies Financial Group downgraded Centene from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $83.00 to $69.00 in a report on Wednesday, July 24th. StockNews.com upgraded shares of Centene from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 15th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Centene from $85.00 to $80.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Seven 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 company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $85.58.

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.