Plato Investment Management Ltd Has $1.02 Million Position in Centene Corporation $CNC

Plato Investment Management Ltd grew its position in Centene Corporation (NYSE:CNC) by 66.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,715 shares of the company’s stock after buying an additional 9,844 shares during the quarter. Plato Investment Management Ltd’s holdings in Centene were worth $1,022,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. WPG Advisers LLC raised its position in shares of Centene by 44.5% in the 3rd quarter. WPG Advisers LLC now owns 915 shares of the company’s stock valued at $33,000 after buying an additional 282 shares in the last quarter. Prime Capital Investment Advisors LLC grew its position in Centene by 5.7% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 5,975 shares of the company’s stock valued at $246,000 after acquiring an additional 324 shares during the last quarter. Burney Co. grew its position in Centene by 3.8% in the fourth quarter. Burney Co. now owns 9,053 shares of the company’s stock valued at $373,000 after acquiring an additional 331 shares during the last quarter. Versant Capital Management Inc grew its position in Centene by 11.6% in the third quarter. Versant Capital Management Inc now owns 3,421 shares of the company’s stock valued at $122,000 after acquiring an additional 355 shares during the last quarter. Finally, Snowden Capital Advisors LLC grew its position in Centene by 8.0% in the second 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 during the last quarter. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Centene Price Performance

Centene stock opened at $55.97 on Monday. The stock’s 50 day moving average is $39.59 and its 200 day moving average is $39.89. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market cap of $27.64 billion, a P/E ratio of -4.26, a P/E/G ratio of 1.08 and a beta of 1.06. Centene Corporation has a one year low of $25.08 and a one year high of $64.15.

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

Wall Street Analyst Weigh In

CNC has been the topic of a number of recent analyst reports. Cantor Fitzgerald upgraded Centene from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $41.00 to $60.00 in a research report on Tuesday, April 28th. Wells Fargo & Company lifted their target price on Centene from $44.00 to $56.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. UBS Group lifted their target price on Centene from $42.00 to $55.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Oppenheimer reiterated an “outperform” rating and issued a $58.00 target price (up from $45.00) on shares of Centene in a research report on Wednesday, April 29th. Finally, Truist Financial lifted their target price on Centene from $49.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. One equities research 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 given a Sell rating to the company’s stock. According to MarketBeat, Centene currently has an average rating of “Hold” and an average price target of $53.82.

Centene Company 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.