Centene Corporation $CNC Shares Bought by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. increased its position in Centene Corporation (NYSE:CNC) by 227.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,838 shares of the company’s stock after buying an additional 20,030 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Centene were worth $1,029,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in CNC. Grove Bank & Trust raised its holdings in shares of Centene by 2.8% in the 2nd quarter. Grove Bank & Trust now owns 11,632 shares of the company’s stock worth $631,000 after purchasing an additional 313 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of Centene by 5.1% in the second quarter. Farther Finance Advisors LLC now owns 6,658 shares of the company’s stock worth $361,000 after buying an additional 325 shares during the period. Fulton Bank N.A. boosted its position in Centene by 5.7% during the 2nd quarter. Fulton Bank N.A. now owns 6,155 shares of the company’s stock worth $334,000 after acquiring an additional 331 shares during the period. Snowden Capital Advisors LLC grew its stake in Centene by 8.0% during the 2nd quarter. Snowden Capital Advisors LLC now owns 5,073 shares of the company’s stock valued at $275,000 after acquiring an additional 374 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of Centene by 4.6% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 8,946 shares of the company’s stock worth $543,000 after purchasing an additional 395 shares in the last quarter. Institutional investors own 93.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Jefferies Financial Group upped their price objective on shares of Centene from $25.00 to $32.00 in a research note on Monday, November 3rd. Wells Fargo & Company dropped their price target on Centene from $41.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 12th. Zacks Research upgraded shares of Centene from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 29th. The Goldman Sachs Group reissued a “sell” rating and issued a $38.00 price target (up from $33.00) on shares of Centene in a report on Thursday, October 30th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Centene in a report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $38.44.

Centene Price Performance

Shares of Centene stock opened at $40.52 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.08 and a current ratio of 1.08. The firm’s 50-day simple moving average is $37.46 and its 200-day simple moving average is $35.87. The firm has a market cap of $19.92 billion, a P/E ratio of -3.75, a price-to-earnings-growth ratio of 1.33 and a beta of 0.48. Centene Corporation has a twelve month low of $25.08 and a twelve month high of $66.81.

Centene (NYSE:CNC) last issued its earnings results on Wednesday, October 29th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.71. The business had revenue of $49.69 billion during the quarter, compared to analysts’ expectations of $47.50 billion. Centene had a positive return on equity of 7.82% and a negative net margin of 2.85%.Centene’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.62 EPS. As a group, research analysts expect that Centene Corporation will post 6.86 EPS for the current fiscal year.

About Centene

Centene Corporation (NYSE: CNC) is a diversified, multi-national healthcare enterprise that specializes in providing services to government-sponsored and national health programs. The company primarily acts as a managed care organization, delivering healthcare coverage and administering benefits for Medicaid, the Children’s Health Insurance Program (CHIP), Medicare Advantage, and individual marketplace plans. Centene also contracts with federal and state agencies to manage specialty care programs and community-based services for vulnerable populations.

Centene’s offerings extend beyond traditional insurance to include a range of specialty and support services.