Edmond DE Rothschild Holding S.A. Purchases Shares of 62,375 Centene Corporation $CNC

Edmond DE Rothschild Holding S.A. purchased a new stake in Centene Corporation (NYSE:CNC) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 62,375 shares of the company’s stock, valued at approximately $4,004,000.

A number of other institutional investors have also made changes to their positions in the business. 180 Wealth Advisors LLC increased its stake in Centene by 3.1% in the 1st quarter. 180 Wealth Advisors LLC now owns 6,683 shares of the company’s stock valued at $219,000 after buying an additional 199 shares during the last quarter. Summitry LLC lifted its holdings in Centene by 1.1% during the 1st quarter. Summitry LLC now owns 23,925 shares of the company’s stock valued at $783,000 after purchasing an additional 253 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Centene by 2.4% during the 2nd quarter. GAMMA Investing LLC now owns 10,674 shares of the company’s stock worth $685,000 after buying an additional 253 shares during the period. Kestra Advisory Services LLC boosted its holdings in shares of 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 acquiring an additional 264 shares during the period. Finally, CX Institutional grew its holdings in 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 buying an additional 269 shares in the last quarter. Institutional investors own 93.63% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Stifel Nicolaus set a $79.00 target price on shares of Centene in a research report on Monday, August 3rd. Zacks Research raised Centene from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 29th. The Goldman Sachs Group reiterated a “sell” rating and issued a $40.00 price target on shares of Centene in a research note on Wednesday, April 29th. Raymond James Financial set a $75.00 target price on shares of Centene in a research report on Tuesday, July 7th. Finally, Wall Street Zen raised Centene from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 18th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Centene currently has a consensus rating of “Hold” and an average price target of $70.05.

Centene Stock Down 0.9%

Shares of NYSE CNC opened at $64.66 on Thursday. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.71. The company’s fifty day simple moving average is $64.95 and its 200 day simple moving average is $52.16. The firm has a market cap of $31.94 billion, a PE ratio of -6.19, a P/E/G ratio of 0.35 and a beta of 1.08. Centene Corporation has a 12-month low of $28.24 and a 12-month high of $69.36.

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

Insider Activity at Centene

In related news, General Counsel Christopher Koster sold 47,603 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $65.36, for a total value of $3,111,332.08. Following the sale, the general counsel owned 305,354 shares in the company, valued at $19,957,937.44. This represents a 13.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.37% of the stock is currently owned by insiders.

About Centene

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.