Burns Matteson Capital Management LLC Makes New Investment in Centene Corporation $CNC

Burns Matteson Capital Management LLC purchased a new position in shares of Centene Corporation (NYSE:CNC) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 8,694 shares of the company’s stock, valued at approximately $540,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Deutsche Bank AG acquired a new stake in Centene during the 2nd quarter valued at $257,279,000. Hara Capital LLC acquired a new position in shares of Centene in the second quarter valued at $5,222,000. Paralel Advisors LLC bought a new position in shares of Centene in the second quarter valued at about $4,531,000. Roberts Glore & Co. Inc. IL bought a new position in shares of Centene in the second quarter valued at about $1,659,000. Finally, Heartland Advisors Inc. acquired a new stake in shares of Centene during the 2nd quarter worth about $9,764,000. Institutional investors and hedge funds own 93.63% of the company’s stock.

Insiders Place Their Bets

In other Centene news, General Counsel Christopher Koster sold 56,500 shares of the business’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $66.90, for a total transaction of $3,779,850.00. Following the sale, the general counsel owned 248,854 shares of the company’s stock, valued at approximately $16,648,332.60. The trade was a 18.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.37% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently commented on the stock. Raymond James Financial set a $75.00 target price on shares of Centene in a report on Tuesday, July 7th. Robert W. Baird raised their price objective on shares of Centene from $46.00 to $66.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Truist Financial boosted their price objective on Centene from $71.00 to $78.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Wells Fargo & Company set a $69.00 target price on Centene and gave the company an “equal weight” rating in a research report on Monday, July 13th. Finally, JPMorgan Chase & Co. increased their target price on Centene from $60.00 to $67.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 4th. Nine equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $70.05.

Centene Price Performance

Centene stock opened at $69.27 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.15 and a current ratio of 1.15. Centene Corporation has a 52 week low of $31.63 and a 52 week high of $71.21. The stock has a market capitalization of $34.22 billion, a P/E ratio of -6.64, a price-to-earnings-growth ratio of 0.44 and a beta of 1.13. The stock has a fifty day moving average of $65.41 and a 200-day moving average of $59.67.

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

Centene 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.