Legacy Financial Advisors Inc. Buys Shares of 11,594 Centene Corporation $CNC

Legacy Financial Advisors Inc. purchased a new position in shares of Centene Corporation (NYSE:CNC) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 11,594 shares of the company’s stock, valued at approximately $477,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Cascades Capital Asset Management LLC bought a new position in Centene in the fourth quarter valued at approximately $109,000. Valeo Financial Advisors LLC raised its position in shares of Centene by 3.9% during the 4th quarter. Valeo Financial Advisors LLC now owns 17,766 shares of the company’s stock valued at $731,000 after acquiring an additional 662 shares during the last quarter. SVB Wealth LLC lifted its stake in shares of Centene by 58.3% in the 4th quarter. SVB Wealth LLC now owns 42,395 shares of the company’s stock valued at $1,745,000 after purchasing an additional 15,611 shares during the period. Drive Wealth Management LLC bought a new position in shares of Centene in the 4th quarter worth $333,000. Finally, Plato Investment Management Ltd grew its stake in shares of Centene by 66.2% during the fourth quarter. Plato Investment Management Ltd now owns 24,715 shares of the company’s stock worth $1,022,000 after purchasing an additional 9,844 shares during the period. 93.63% of the stock is owned by institutional investors.

Centene Stock Performance

CNC opened at $58.71 on Thursday. The company has a market capitalization of $28.99 billion, a price-to-earnings ratio of -4.47, a P/E/G ratio of 1.15 and a beta of 1.06. The business’s 50-day moving average price is $40.70 and its two-hundred day moving average price is $40.51. Centene Corporation has a 1 year low of $25.08 and a 1 year high of $62.21. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.12 and a quick ratio of 1.12.

Centene (NYSE:CNC) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $3.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $1.14. Centene had a positive return on equity of 5.57% and a negative net margin of 3.25%.The business had revenue of $49.94 billion during the quarter, compared to the consensus estimate of $47.53 billion. During the same period last year, the company earned $2.90 earnings per share. Centene’s quarterly revenue was up 7.1% on a year-over-year basis. Equities analysts expect that Centene Corporation will post 3.45 EPS for the current fiscal year.

Analyst Ratings Changes

CNC has been the topic of several analyst reports. Cantor Fitzgerald raised Centene from a “neutral” rating to an “overweight” rating and increased their target price for the company from $41.00 to $60.00 in a research note on Tuesday, April 28th. Zacks Research raised Centene from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 6th. TD Cowen reissued a “hold” rating and set a $47.00 price objective (up from $38.00) on shares of Centene in a research note on Monday, May 4th. Barclays reaffirmed an “overweight” rating and issued a $63.00 target price (up from $54.00) on shares of Centene in a research note on Wednesday, April 29th. Finally, The Goldman Sachs Group reiterated a “sell” rating and issued a $40.00 target price on shares of Centene in a report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $53.82.

Centene Profile

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.