Centene Co. (NYSE:CNC) Shares Sold by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its position in shares of Centene Co. (NYSE:CNC) by 6.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 107,349 shares of the company’s stock after selling 7,163 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Centene were worth $6,503,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of CNC. Capital Advisors Ltd. LLC grew its holdings in Centene by 75.3% during the fourth quarter. Capital Advisors Ltd. LLC now owns 412 shares of the company’s stock worth $25,000 after acquiring an additional 177 shares during the period. Rialto Wealth Management LLC acquired a new position in Centene during the fourth quarter worth about $30,000. OFI Invest Asset Management purchased a new position in Centene in the 4th quarter worth about $33,000. SRS Capital Advisors Inc. raised its holdings in Centene by 73.4% during the 4th quarter. SRS Capital Advisors Inc. now owns 631 shares of the company’s stock worth $38,000 after buying an additional 267 shares during the period. Finally, Riverview Trust Co raised its holdings in Centene by 172.7% during the 4th quarter. Riverview Trust Co now owns 758 shares of the company’s stock worth $46,000 after buying an additional 480 shares during the period. 93.63% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CNC has been the topic of several recent analyst reports. Truist Financial cut their price objective on Centene from $89.00 to $84.00 and set a “buy” rating on the stock in a report on Friday, December 13th. Wells Fargo & Company cut their price objective on Centene from $76.00 to $72.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Cantor Fitzgerald restated an “overweight” rating and set a $90.00 price objective on shares of Centene in a report on Wednesday, December 11th. Jefferies Financial Group downgraded Centene from a “hold” rating to an “underperform” rating and cut their price objective for the stock from $68.00 to $52.00 in a report on Tuesday, December 10th. Finally, Stephens lowered their target price on Centene from $75.00 to $73.00 and set an “equal weight” rating on the stock in a research note on Friday, December 13th. One analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $79.92.

Centene Trading Down 1.2 %

Shares of NYSE CNC opened at $58.88 on Friday. The stock has a market cap of $29.21 billion, a price-to-earnings ratio of 9.44, a PEG ratio of 0.80 and a beta of 0.40. The business has a 50 day simple moving average of $60.27 and a 200 day simple moving average of $63.15. Centene Co. has a 52 week low of $55.03 and a 52 week high of $80.59. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.10 and a current ratio of 1.11.

Centene (NYSE:CNC) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.49 by $0.31. The business had revenue of $40.81 billion during the quarter, compared to analysts’ expectations of $38.78 billion. Centene had a return on equity of 13.85% and a net margin of 2.03%. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.45 EPS. On average, research analysts predict that Centene Co. will post 6.86 earnings per share for the current fiscal year.

Centene 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.