Impax Asset Management Group plc Raises Stake in Centene Corporation $CNC

Impax Asset Management Group plc lifted its stake in shares of Centene Corporation (NYSE:CNC) by 56.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 24,722 shares of the company’s stock after acquiring an additional 8,968 shares during the period. Impax Asset Management Group plc’s holdings in Centene were worth $1,342,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of CNC. Quarry LP acquired a new position in Centene in the 1st quarter valued at about $26,000. Assetmark Inc. raised its position in shares of Centene by 248.2% during the 2nd quarter. Assetmark Inc. now owns 1,156 shares of the company’s stock valued at $63,000 after buying an additional 824 shares during the period. GHP Investment Advisors Inc. lifted its holdings in Centene by 265.8% in the second quarter. GHP Investment Advisors Inc. now owns 1,178 shares of the company’s stock valued at $64,000 after acquiring an additional 856 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new stake in Centene during the second quarter worth $76,000. Finally, Trust Co. of Toledo NA OH purchased a new stake in Centene in the second quarter valued at $77,000. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Centene Price Performance

Centene stock opened at $36.09 on Friday. The firm has a market cap of $17.74 billion, a PE ratio of -3.34, a price-to-earnings-growth ratio of 1.24 and a beta of 0.49. Centene Corporation has a 52-week low of $25.08 and a 52-week high of $66.81. The company has a quick ratio of 1.10, a current ratio of 1.08 and a debt-to-equity ratio of 0.83. The company’s 50 day moving average is $34.82 and its two-hundred day moving average is $40.19.

Centene (NYSE:CNC) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of ($0.21) by $0.71. The business had revenue of $49.69 billion during the quarter, compared to the consensus estimate of $47.50 billion. Centene had a negative net margin of 2.85% and a positive return on equity of 7.82%. The company’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.62 earnings per share. On average, research analysts expect that Centene Corporation will post 6.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CNC. Deutsche Bank Aktiengesellschaft raised their price objective on Centene from $24.00 to $32.00 in a research report on Friday, October 31st. Oppenheimer reiterated an “outperform” rating and set a $45.00 price target on shares of Centene in a research report on Thursday, October 30th. Cowen restated a “hold” rating on shares of Centene in a report on Friday, October 31st. Weiss Ratings reiterated a “sell (d)” rating on shares of Centene in a report on Wednesday, October 8th. Finally, TD Cowen upped their price target on Centene from $30.00 to $34.00 and gave the stock a “hold” rating in a research note on Friday, October 31st. Three investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Centene currently has a consensus rating of “Hold” and an average price target of $39.47.

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.