Centene Corporation (NYSE:CNC) Stock Holdings Lessened by HB Wealth Management LLC

HB Wealth Management LLC lowered its stake in Centene Corporation (NYSE:CNC) by 7.0% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 6,332 shares of the company’s stock after selling 480 shares during the period. HB Wealth Management LLC’s holdings in Centene were worth $384,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Pinney & Scofield Inc. acquired a new stake in Centene during the 4th quarter valued at $25,000. Hurley Capital LLC acquired a new position in shares of Centene in the fourth quarter worth $26,000. Ameriflex Group Inc. acquired a new position in shares of Centene in the fourth quarter worth $26,000. Studio Investment Management LLC acquired a new position in shares of Centene in the fourth quarter worth $32,000. Finally, Golden State Wealth Management LLC increased its stake in shares of Centene by 203.1% in the first quarter. Golden State Wealth Management LLC now owns 579 shares of the company’s stock worth $35,000 after acquiring an additional 388 shares during the last quarter. Institutional investors own 93.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CNC. TD Cowen reaffirmed a “hold” rating and issued a $33.00 price target (down from $73.00) on shares of Centene in a research note on Monday, July 21st. Guggenheim reiterated a “neutral” rating on shares of Centene in a report on Tuesday, April 29th. JPMorgan Chase & Co. decreased their price objective on shares of Centene from $48.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday. Mizuho decreased their price objective on shares of Centene from $71.00 to $40.00 and set a “neutral” rating for the company in a report on Friday, July 11th. Finally, Morgan Stanley cut shares of Centene from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $70.00 to $33.00 in a report on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Centene has a consensus rating of “Hold” and a consensus target price of $45.31.

Centene Stock Down 0.6%

NYSE CNC opened at $25.92 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.11 and a current ratio of 1.10. The firm has a 50-day simple moving average of $43.39 and a 200 day simple moving average of $54.59. Centene Corporation has a twelve month low of $25.11 and a twelve month high of $80.59. The stock has a market cap of $12.73 billion, a PE ratio of 6.42, a PEG ratio of 1.07 and a beta of 0.44.

Centene (NYSE:CNC) last posted its quarterly earnings results on Friday, July 25th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.39). Centene had a return on equity of 9.57% and a net margin of 1.15%. The business had revenue of $48.74 billion during the quarter, compared to analyst estimates of $44.71 billion. During the same period last year, the company earned $2.42 EPS. The business’s revenue for the quarter was up 22.4% on a year-over-year basis. On average, research analysts forecast that Centene Corporation will post 6.86 EPS for the current year.

Insider Transactions at Centene

In other news, Director Theodore R. Samuels II acquired 9,000 shares of the company’s stock in a transaction dated Monday, July 28th. The stock was bought at an average price of $27.62 per share, with a total value of $248,580.00. Following the completion of the acquisition, the director owned 32,000 shares in the company, valued at approximately $883,840. This represents a 39.13% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.36% of the stock is owned by company insiders.

Centene Company Profile

Centene Corporation operates as a healthcare enterprise that provides programs and services to under-insured and uninsured families, commercial organizations, and military families in the United States. The company operates through Medicaid, Medicare, Commercial, and Other segments. The Medicaid segment offers health plan coverage, including medicaid expansion, aged, blind, disabled, children’s health insurance program, foster care, medicare-medicaid plans, long-term services and support.