UniSuper Management Pty Ltd Acquires 13,784 Shares of Centene Co. (NYSE:CNC)

UniSuper Management Pty Ltd raised its position in shares of Centene Co. (NYSE:CNC) by 275.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,785 shares of the company’s stock after buying an additional 13,784 shares during the period. UniSuper Management Pty Ltd’s holdings in Centene were worth $1,474,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Centene during the fourth quarter worth approximately $25,000. Rise Advisors LLC acquired a new stake in shares of Centene during the first quarter worth approximately $25,000. Riggs Asset Managment Co. Inc. acquired a new stake in shares of Centene in the fourth quarter valued at approximately $32,000. Neo Ivy Capital Management acquired a new stake in shares of Centene in the fourth quarter valued at approximately $40,000. Finally, Access Investment Management LLC acquired a new stake in shares of Centene in the fourth quarter valued at approximately $44,000. Institutional investors and hedge funds own 93.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CNC shares. Oppenheimer reissued an “outperform” rating and issued a $110.00 price target on shares of Centene in a report on Friday, June 21st. Stephens reissued an “equal weight” rating and issued a $83.00 price target on shares of Centene in a report on Thursday, May 30th. Truist Financial lowered their price target on shares of Centene from $92.00 to $89.00 and set a “buy” rating for the company in a report on Monday, July 15th. JPMorgan Chase & Co. lowered their target price on shares of Centene from $85.00 to $80.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Finally, Jefferies Financial Group lowered their target price on shares of Centene from $90.00 to $83.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Centene currently has a consensus rating of “Hold” and a consensus target price of $85.31.

Centene Trading Down 1.9 %

Shares of NYSE CNC traded down $1.27 during midday trading on Tuesday, reaching $64.87. 5,344,033 shares of the stock were exchanged, compared to its average volume of 3,402,461. The company has a market capitalization of $34.62 billion, a price-to-earnings ratio of 12.90, a P/E/G ratio of 0.86 and a beta of 0.50. The business has a 50-day simple moving average of $69.57 and a two-hundred day simple moving average of $73.89. Centene Co. has a 12 month low of $60.83 and a 12 month high of $81.42. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.17 and a quick ratio of 1.17.

Centene (NYSE:CNC) last announced its quarterly earnings results on Friday, April 26th. The company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.09 by $0.17. Centene had a net margin of 1.76% and a return on equity of 14.19%. The business had revenue of $40.41 billion for the quarter, compared to analyst estimates of $36.43 billion. During the same quarter in the prior year, the business earned $2.11 EPS. Centene’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, equities research analysts expect that Centene Co. will post 6.8 EPS for the current year.

Insider Activity at Centene

In other news, President Kenneth J. Fasola sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $77.62, for a total transaction of $620,960.00. Following the transaction, the president now directly owns 300,357 shares of the company’s stock, valued at $23,313,710.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, President Kenneth J. Fasola sold 8,000 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $77.62, for a total value of $620,960.00. Following the transaction, the president now owns 300,357 shares in the company, valued at $23,313,710.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christopher J. Coughlin sold 878 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $76.75, for a total value of $67,386.50. Following the completion of the transaction, the director now owns 25,504 shares in the company, valued at approximately $1,957,432. The disclosure for this sale can be found here. 0.33% of the stock is owned by company insiders.

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.