denkapparat Operations GmbH Acquires Shares of 9,650 Centene Corporation $CNC

denkapparat Operations GmbH acquired a new stake in Centene Corporation (NYSE:CNC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 9,650 shares of the company’s stock, valued at approximately $619,000.

Several other institutional investors have also recently made changes to their positions in CNC. 180 Wealth Advisors LLC boosted its stake in Centene by 3.1% in the first quarter. 180 Wealth Advisors LLC now owns 6,683 shares of the company’s stock valued at $219,000 after acquiring an additional 199 shares in the last quarter. Summitry LLC grew its position in shares of Centene by 1.1% in the first quarter. Summitry LLC now owns 23,925 shares of the company’s stock valued at $783,000 after purchasing an additional 253 shares in the last quarter. GAMMA Investing LLC raised its stake in Centene by 2.4% during the second quarter. GAMMA Investing LLC now owns 10,674 shares of the company’s stock worth $685,000 after purchasing an additional 253 shares during the period. Kestra Advisory Services LLC increased its stake in Centene by 0.5% during the fourth quarter. Kestra Advisory Services LLC now owns 52,602 shares of the company’s stock worth $2,165,000 after purchasing an additional 264 shares during the period. Finally, CX Institutional increased its position in shares of Centene by 3.1% in the 2nd quarter. CX Institutional now owns 8,999 shares of the company’s stock valued at $578,000 after purchasing an additional 269 shares during the last quarter. Hedge funds and other institutional investors 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 firm’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $66.90, for a total transaction of $3,779,850.00. Following the transaction, the general counsel owned 248,854 shares in the company, valued at $16,648,332.60. This trade represents a 18.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.37% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CNC has been the subject of several research reports. UBS Group set a $79.00 price objective on Centene in a report on Tuesday, August 18th. Barclays reissued an “overweight” rating and set a $80.00 price objective (up from $75.00) on shares of Centene in a report on Wednesday, July 29th. Truist Financial raised their price target on Centene from $71.00 to $78.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Royal Bank Of Canada boosted their target price on Centene from $70.00 to $71.00 and gave the stock a “sector perform” rating in a report on Thursday, July 9th. Finally, Zacks Research raised Centene from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $70.05.

Centene Stock Performance

Shares of Centene stock opened at $66.92 on Friday. Centene Corporation has a 12 month low of $28.24 and a 12 month high of $69.36. The stock’s fifty day simple moving average is $65.56 and its 200 day simple moving average is $54.18. The company has a market capitalization of $33.06 billion, a PE ratio of -6.41, a PEG ratio of 0.43 and a beta of 1.10. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.71.

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

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.