Hengehold Capital Management LLC Acquires 45,291 Shares of Centene Corporation $CNC

Hengehold Capital Management LLC bought a new position in Centene Corporation (NYSE:CNC) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 45,291 shares of the company’s stock, valued at approximately $2,813,000.

A number of other institutional investors and hedge funds also recently modified their holdings of CNC. Silicon Valley Capital Partners purchased a new stake in shares of Centene during the second quarter valued at $25,000. North Point Portfolio Managers Corp OH acquired a new position in shares of Centene in the 3rd quarter valued at $25,000. Toth Financial Advisory Corp acquired a new position in shares of Centene in the 3rd quarter valued at $30,000. MidFirst Bank purchased a new position in Centene in the 2nd quarter worth about $32,000. Finally, Fiduciary Financial Advisors purchased a new position in Centene in the 2nd quarter worth about $34,000. 93.63% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Centene news, General Counsel Christopher Koster sold 56,500 shares of the company’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $66.90, for a total value of $3,779,850.00. Following the transaction, the general counsel directly owned 248,854 shares of the company’s stock, valued at $16,648,332.60. This represents a 18.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.37% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CNC shares. Zacks Research downgraded Centene from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. Truist Financial lifted their price objective on shares of Centene from $71.00 to $78.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Barclays reaffirmed an “overweight” rating and issued a $80.00 target price (up from $75.00) on shares of Centene in a research report on Wednesday, July 29th. Sanford C. Bernstein reiterated an “outperform” rating and set a $79.00 price target (up from $68.00) on shares of Centene in a report on Monday, August 3rd. Finally, Raymond James Financial set a $75.00 price target on Centene in a research report on Tuesday, July 7th. Nine investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $70.05.

Centene Stock Down 1.8%

Shares of Centene stock traded down $1.24 on Friday, hitting $69.27. 3,336,077 shares of the company traded hands, compared to its average volume of 4,808,065. The company has a 50-day moving average price of $65.41 and a 200 day moving average price of $59.67. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.71. Centene Corporation has a 12-month low of $31.63 and a 12-month high of $71.21. The company has a market cap of $34.22 billion, a PE ratio of -6.64, a PEG ratio of 0.44 and a beta of 1.13.

Centene (NYSE:CNC) last posted its quarterly earnings results on Monday, July 27th. The company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $1.42. Centene had a negative net margin of 2.51% and a positive return on equity of 12.12%. The business had revenue of $53.58 billion for the quarter, compared to the consensus estimate of $47.64 billion. During the same period in the prior year, the business posted ($0.16) earnings per share. Centene’s revenue for the quarter was up 9.9% compared to the same quarter last year. Sell-side analysts predict that Centene Corporation will post 4.89 earnings per share for the current year.

Centene Company Profile

Centene Corporation (NYSE:CNC) is a healthcare enterprise that provides health insurance and related services, primarily through government-sponsored programs. Its offerings include Medicaid plans, Medicare products, health plans sold through the Affordable Care Act marketplace, and services for military families through government-sponsored healthcare programs.

The company also provides pharmacy, behavioral health, specialty healthcare, care management and administrative services through various subsidiaries and partner organizations.