Pictet Asset Management Holding SA Has $13.82 Million Stock Holdings in Centene Co. (NYSE:CNC)

Pictet Asset Management Holding SA lowered its holdings in Centene Co. (NYSE:CNC) by 3.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 228,193 shares of the company’s stock after selling 7,783 shares during the period. Pictet Asset Management Holding SA’s holdings in Centene were worth $13,824,000 as of its most recent filing with the Securities & Exchange Commission.

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

Centene Price Performance

Centene stock opened at $60.41 on Wednesday. Centene Co. has a 52 week low of $55.03 and a 52 week high of $80.59. The firm has a market cap of $29.97 billion, a P/E ratio of 9.68, a P/E/G ratio of 0.80 and a beta of 0.40. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.10 and a current ratio of 1.11. The business’s fifty day moving average is $59.84 and its two-hundred day moving average is $62.45.

Centene (NYSE:CNC) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.80 EPS for the quarter, topping 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 firm had revenue of $40.81 billion for the quarter, compared to analyst estimates of $38.78 billion. During the same quarter in the prior year, the firm earned $0.45 EPS. The company’s revenue was up 3.4% on a year-over-year basis. Equities research analysts forecast that Centene Co. will post 6.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CNC. Jefferies Financial Group cut Centene from a “hold” rating to an “underperform” rating and lowered their price objective for the company from $68.00 to $52.00 in a research report on Tuesday, December 10th. Truist Financial dropped their price objective on shares of Centene from $89.00 to $84.00 and set a “buy” rating for the company in a research note on Friday, December 13th. Stephens decreased their target price on shares of Centene from $75.00 to $73.00 and set an “equal weight” rating on the stock in a research report on Friday, December 13th. Robert W. Baird increased their price target on shares of Centene from $66.00 to $71.00 in a research report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $75.00 price objective (down from $80.00) on shares of Centene in a research note on Tuesday, December 17th. One analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $79.92.

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.