Centene Corporation $CNC Shares Sold by Forsta AP Fonden

Forsta AP Fonden trimmed its stake in Centene Corporation (NYSE:CNC) by 44.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 114,400 shares of the company’s stock after selling 92,300 shares during the period. Forsta AP Fonden’s holdings in Centene were worth $6,210,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP acquired a new position in Centene during the first quarter worth $26,000. Assetmark Inc. lifted its stake in Centene by 248.2% during the 2nd quarter. Assetmark Inc. now owns 1,156 shares of the company’s stock worth $63,000 after acquiring an additional 824 shares in the last quarter. GHP Investment Advisors Inc. boosted its holdings in Centene by 265.8% during the 2nd 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 period. Atlantic Union Bankshares Corp purchased a new stake in Centene during the second quarter worth about $76,000. Finally, Trust Co. of Toledo NA OH acquired a new stake in shares of Centene during the second quarter worth about $77,000. Institutional investors and hedge funds own 93.63% of the company’s stock.

Centene Stock Up 0.9%

CNC stock opened at $36.40 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.08 and a quick ratio of 1.10. Centene Corporation has a 12 month low of $25.08 and a 12 month high of $66.81. The firm has a market capitalization of $17.89 billion, a PE ratio of -3.36, a P/E/G ratio of 1.24 and a beta of 0.49. The company’s 50 day simple moving average is $34.97 and its 200-day simple moving average is $40.03.

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CNC. Oppenheimer reaffirmed an “outperform” rating and set a $45.00 target price on shares of Centene in a research note on Thursday, October 30th. Mizuho lifted their target price on Centene from $28.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, October 9th. Cantor Fitzgerald upped their price target on Centene from $38.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Deutsche Bank Aktiengesellschaft lifted their price objective on Centene from $24.00 to $32.00 in a research note on Friday, October 31st. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Centene in a report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Centene presently has an average rating of “Hold” and a consensus target price of $39.47.

About Centene

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.