Centene Corporation $CNC Shares Purchased by Corient Private Wealth LLC

Corient Private Wealth LLC boosted its holdings in Centene Corporation (NYSE:CNC) by 21.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 157,519 shares of the company’s stock after purchasing an additional 27,639 shares during the quarter. Corient Private Wealth LLC’s holdings in Centene were worth $6,482,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Baird Financial Group Inc. purchased a new stake in Centene during the 1st quarter worth $236,000. Sivia Capital Partners LLC increased its holdings in Centene by 80.0% in the 2nd quarter. Sivia Capital Partners LLC now owns 9,710 shares of the company’s stock valued at $527,000 after purchasing an additional 4,315 shares in the last quarter. CW Advisors LLC raised its position in Centene by 20.3% in the second quarter. CW Advisors LLC now owns 4,863 shares of the company’s stock valued at $264,000 after purchasing an additional 820 shares during the period. NewEdge Advisors LLC lifted its stake in shares of Centene by 6.1% during the second quarter. NewEdge Advisors LLC now owns 44,945 shares of the company’s stock worth $2,440,000 after purchasing an additional 2,582 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its position in shares of Centene by 0.4% in the second quarter. Treasurer of the State of North Carolina now owns 231,938 shares of the company’s stock worth $12,590,000 after buying an additional 967 shares during the period. 93.63% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CNC shares. Sanford C. Bernstein increased their target price on Centene from $48.00 to $68.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Morgan Stanley upped their price target on Centene from $50.00 to $57.00 and gave the stock an “equal weight” rating in a report on Thursday, June 4th. Royal Bank Of Canada started coverage on shares of Centene in a research report on Tuesday. They issued a “sector perform” rating and a $70.00 price objective for the company. Raymond James Financial set a $60.00 price objective on shares of Centene in a research note on Wednesday, April 29th. Finally, Barclays restated an “overweight” rating on shares of Centene in a research note on Tuesday, June 16th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $60.78.

Centene Trading Up 2.8%

NYSE:CNC opened at $64.73 on Friday. The stock has a market cap of $31.96 billion, a price-to-earnings ratio of -4.93, a price-to-earnings-growth ratio of 0.49 and a beta of 1.09. Centene Corporation has a one year low of $25.08 and a one year high of $66.55. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.12 and a current ratio of 1.12. The business’s 50-day simple moving average is $56.10 and its 200 day simple moving average is $45.85.

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 the consensus estimate 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 company had revenue of $49.94 billion for the quarter, compared to the consensus estimate of $47.53 billion. During the same period in the previous year, the business earned $2.90 EPS. Centene’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, sell-side analysts predict that Centene Corporation will post 3.45 earnings per share 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.