Centene Co. (NYSE:CNC) Shares Purchased by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. grew its position in Centene Co. (NYSE:CNC) by 0.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 166,576 shares of the company’s stock after buying an additional 248 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Centene were worth $10,091,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Capital Advisors Ltd. LLC raised its holdings in shares of Centene by 75.3% during the fourth quarter. Capital Advisors Ltd. LLC now owns 412 shares of the company’s stock worth $25,000 after purchasing an additional 177 shares during the period. Rialto Wealth Management LLC acquired a new stake in Centene during the fourth quarter worth about $30,000. OFI Invest Asset Management bought a new position in Centene in the fourth quarter worth about $33,000. SRS Capital Advisors Inc. grew its holdings in shares of Centene by 73.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 631 shares of the company’s stock valued at $38,000 after purchasing an additional 267 shares during the last quarter. Finally, Riverview Trust Co raised its position in shares of Centene by 172.7% during the 4th quarter. Riverview Trust Co now owns 758 shares of the company’s stock worth $46,000 after purchasing an additional 480 shares during the period. 93.63% of the stock is currently owned by institutional investors.

Centene Trading Down 0.5 %

Shares of CNC opened at $59.96 on Monday. The company has a current ratio of 1.11, a quick ratio of 1.10 and a debt-to-equity ratio of 0.70. Centene Co. has a 1-year low of $55.03 and a 1-year high of $80.59. The stock has a market capitalization of $29.74 billion, a P/E ratio of 9.61, a P/E/G ratio of 0.80 and a beta of 0.40. The business’s 50-day moving average price is $59.94 and its 200 day moving average price is $62.66.

Centene (NYSE:CNC) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.31. Centene had a net margin of 2.03% and a return on equity of 13.85%. The business had revenue of $40.81 billion for the quarter, compared to analyst estimates of $38.78 billion. During the same quarter in the previous year, the business earned $0.45 earnings per share. The firm’s revenue was up 3.4% compared to the same quarter last year. Analysts expect that Centene Co. will post 6.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CNC. Jefferies Financial Group downgraded Centene from a “hold” rating to an “underperform” rating and lowered their price objective for the stock from $68.00 to $52.00 in a research note on Tuesday, December 10th. Robert W. Baird lifted their price objective on shares of Centene from $66.00 to $71.00 in a research report on Tuesday, February 4th. Wells Fargo & Company decreased their target price on shares of Centene from $76.00 to $72.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. Truist Financial reduced their price objective on Centene from $89.00 to $84.00 and set a “buy” rating for the company in a research report on Friday, December 13th. Finally, Oppenheimer lowered their target price on Centene from $95.00 to $85.00 and set an “outperform” rating on the stock in a research report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $79.92.

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.