Centene Co. (NYSE:CNC) Shares Sold by Swedbank AB

Swedbank AB lessened its stake in shares of Centene Co. (NYSE:CNC) by 46.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,400,310 shares of the company’s stock after selling 4,732,516 shares during the quarter. Swedbank AB owned about 1.01% of Centene worth $406,535,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Rise Advisors LLC acquired a new stake in shares of Centene in the 1st quarter valued at approximately $25,000. Park Place Capital Corp lifted its holdings in Centene by 1,190.0% in the third quarter. Park Place Capital Corp now owns 387 shares of the company’s stock valued at $29,000 after acquiring an additional 357 shares during the period. WR Wealth Planners LLC boosted its position in shares of Centene by 41.4% during the 2nd quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock worth $31,000 after purchasing an additional 137 shares in the last quarter. Chris Bulman Inc purchased a new position in shares of Centene in the 2nd quarter valued at about $33,000. Finally, Riverview Trust Co lifted its stake in shares of Centene by 154.6% in the second quarter. Riverview Trust Co now owns 527 shares of the company’s stock valued at $35,000 after purchasing an additional 320 shares during the period. 93.63% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CNC shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $90.00 target price on shares of Centene in a report on Tuesday, October 1st. Truist Financial decreased their target price on Centene from $92.00 to $89.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Jefferies Financial Group cut Centene from a “buy” rating to a “hold” rating and dropped their price target for the company from $83.00 to $69.00 in a research report on Wednesday, July 24th. StockNews.com upgraded shares of Centene from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Finally, Barclays dropped their target price on shares of Centene from $98.00 to $97.00 and set an “overweight” rating for the company in a report on Thursday, September 5th. Seven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $85.58.

Centene Trading Down 5.7 %

Shares of Centene stock traded down $4.13 during trading hours on Tuesday, reaching $68.77. 3,951,474 shares of the company’s stock were exchanged, compared to its average volume of 3,561,289. The firm has a market capitalization of $36.70 billion, a price-to-earnings ratio of 14.50, a price-to-earnings-growth ratio of 0.98 and a beta of 0.48. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.64. Centene Co. has a 52-week low of $63.45 and a 52-week high of $81.42. The company has a fifty day moving average of $75.22 and a 200-day moving average of $72.97.

Centene (NYSE:CNC) last posted its quarterly earnings results on Friday, July 26th. The company reported $2.42 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.02). Centene had a net margin of 1.79% and a return on equity of 14.45%. The business had revenue of $39.84 billion during the quarter, compared to analysts’ expectations of $36.83 billion. During the same quarter last year, the firm earned $2.10 EPS. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. Sell-side analysts forecast that Centene Co. will post 6.8 EPS for the current fiscal year.

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.