Bridgewater Associates LP Has $35.17 Million Holdings in Centene Co. (NYSE:CNC)

Bridgewater Associates LP lifted its stake in Centene Co. (NYSE:CNC) by 5.2% during the third quarter, Holdings Channel reports. The fund owned 467,245 shares of the company’s stock after acquiring an additional 23,241 shares during the quarter. Bridgewater Associates LP’s holdings in Centene were worth $35,174,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the stock. Park Place Capital Corp boosted its holdings in shares of Centene by 1,190.0% during the 3rd quarter. Park Place Capital Corp now owns 387 shares of the company’s stock worth $29,000 after buying an additional 357 shares during the period. WR Wealth Planners LLC grew 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 valued at $31,000 after purchasing an additional 137 shares during the last quarter. Chris Bulman Inc acquired a new position in shares of Centene during the 2nd quarter worth about $33,000. Riverview Trust Co boosted its stake in Centene by 154.6% during the 2nd quarter. Riverview Trust Co now owns 527 shares of the company’s stock valued at $35,000 after purchasing an additional 320 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Centene in the 2nd quarter valued at approximately $36,000. Institutional investors own 93.63% of the company’s stock.

Analysts Set New Price Targets

CNC has been the topic of several research analyst reports. StockNews.com downgraded shares of Centene from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 28th. Sanford C. Bernstein reduced their target price on shares of Centene from $96.00 to $88.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Stephens reiterated an “equal weight” rating and set a $78.00 price target on shares of Centene in a research note on Monday, August 5th. Robert W. Baird dropped their price objective on shares of Centene from $83.00 to $66.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Finally, TD Cowen upped their target price on shares of Centene from $80.00 to $89.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $83.92.

Centene Stock Down 2.3 %

NYSE CNC opened at $60.00 on Wednesday. The stock’s 50 day simple moving average is $66.07 and its 200 day simple moving average is $70.19. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.10 and a quick ratio of 1.10. Centene Co. has a one year low of $57.20 and a one year high of $81.42. The firm has a market cap of $30.29 billion, a PE ratio of 10.42, a price-to-earnings-growth ratio of 0.84 and a beta of 0.49.

Insider Activity

In related news, CEO Sarah London purchased 4,117 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was acquired at an average price of $60.80 per share, with a total value of $250,313.60. Following the completion of the acquisition, the chief executive officer now directly owns 667,229 shares in the company, valued at approximately $40,567,523.20. This trade represents a 0.62 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Andrew Lynn Asher acquired 17,200 shares of Centene stock in a transaction on Wednesday, November 13th. The shares were purchased at an average cost of $58.14 per share, for a total transaction of $1,000,008.00. Following the acquisition, the chief financial officer now owns 486,847 shares in the company, valued at approximately $28,305,284.58. This represents a 3.66 % increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by corporate insiders.

Centene Company 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.