Jackson Thornton Wealth Management LLC Acquires Shares of 14,497 Centene Corporation $CNC

Jackson Thornton Wealth Management LLC bought a new stake in Centene Corporation (NYSE:CNC) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 14,497 shares of the company’s stock, valued at approximately $557,000.

A number of other institutional investors have also recently bought and sold shares of CNC. Packer & Co Ltd bought a new stake in shares of Centene in the third quarter valued at approximately $50,487,000. Oliver Luxxe Assets LLC purchased a new position in Centene in the 2nd quarter valued at approximately $4,033,000. Amundi raised its holdings in Centene by 6.2% during the 2nd quarter. Amundi now owns 3,384,752 shares of the company’s stock valued at $183,724,000 after acquiring an additional 199,016 shares during the period. Focused Investors LLC boosted its holdings in shares of Centene by 19.9% in the second quarter. Focused Investors LLC now owns 1,250,000 shares of the company’s stock worth $67,850,000 after acquiring an additional 207,600 shares during the period. Finally, Thrivent Financial for Lutherans grew its position in shares of Centene by 53.9% in the second quarter. Thrivent Financial for Lutherans now owns 1,814,059 shares of the company’s stock valued at $98,467,000 after purchasing an additional 635,153 shares in the last quarter. Institutional investors own 93.63% of the company’s stock.

Centene Trading Down 5.4%

NYSE CNC opened at $44.71 on Tuesday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.83. The stock’s 50-day simple moving average is $40.39 and its two-hundred day simple moving average is $34.76. Centene Corporation has a twelve month low of $25.08 and a twelve month high of $66.81. The company has a market capitalization of $21.97 billion, a price-to-earnings ratio of -4.23, a PEG ratio of 1.04 and a beta of 0.48.

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

Wall Street Analyst Weigh In

Several research analysts have commented on CNC shares. TD Cowen raised their target price on Centene from $30.00 to $34.00 and gave the stock a “hold” rating in a research note on Friday, October 31st. Mizuho set a $47.00 price target on shares of Centene in a report on Friday, January 9th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $38.00 price objective (up previously from $33.00) on shares of Centene in a research note on Thursday, October 30th. Robert W. Baird raised their price target on shares of Centene from $28.00 to $36.00 and gave the company a “neutral” rating in a report on Thursday, December 11th. Finally, Truist Financial upped their price target on shares of Centene from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Monday, January 5th. Three investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $40.38.

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.