UniSuper Management Pty Ltd Grows Stock Position in Centene Co. (NYSE:CNC)

UniSuper Management Pty Ltd boosted its holdings in shares of Centene Co. (NYSE:CNC) by 2.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 51,433 shares of the company’s stock after acquiring an additional 1,412 shares during the period. UniSuper Management Pty Ltd’s holdings in Centene were worth $3,116,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Algert Global LLC acquired a new stake in shares of Centene during the third quarter valued at $761,000. Private Trust Co. NA boosted its stake in shares of Centene by 75.3% during the 3rd quarter. Private Trust Co. NA now owns 773 shares of the company’s stock worth $58,000 after purchasing an additional 332 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Centene by 0.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 304,148 shares of the company’s stock worth $22,896,000 after buying an additional 2,556 shares in the last quarter. Public Sector Pension Investment Board raised its position in shares of Centene by 7.9% in the third quarter. Public Sector Pension Investment Board now owns 21,919 shares of the company’s stock valued at $1,650,000 after buying an additional 1,600 shares during the last quarter. Finally, Captrust Financial Advisors lifted its stake in shares of Centene by 24.6% during the third quarter. Captrust Financial Advisors now owns 28,995 shares of the company’s stock valued at $2,183,000 after buying an additional 5,716 shares during the period. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on CNC shares. Argus downgraded Centene from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Stephens reduced their target price on Centene from $75.00 to $73.00 and set an “equal weight” rating on the stock in a research report on Friday, December 13th. Truist Financial lowered their price target on Centene from $89.00 to $84.00 and set a “buy” rating for the company in a report on Friday, December 13th. Oppenheimer decreased their target price on shares of Centene from $95.00 to $85.00 and set an “outperform” rating on the stock in a research report on Friday, December 13th. Finally, UBS Group raised shares of Centene from a “neutral” rating to a “buy” rating and upped their price target for the stock from $79.00 to $80.00 in a research report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Centene presently has an average rating of “Moderate Buy” and a consensus price target of $79.92.

Centene Trading Down 0.5 %

Shares of CNC opened at $59.96 on Friday. The stock’s 50-day moving average is $59.94 and its two-hundred day moving average is $62.73. The stock has a market cap of $29.74 billion, a PE ratio of 9.61, a P/E/G ratio of 0.80 and a beta of 0.40. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.11 and a quick ratio of 1.10. Centene Co. has a 12 month low of $55.03 and a 12 month high of $80.59.

Centene (NYSE:CNC) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.31. The company had revenue of $40.81 billion for the quarter, compared to analyst estimates of $38.78 billion. Centene had a net margin of 2.03% and a return on equity of 13.85%. The business’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.45 earnings per share. Equities analysts forecast 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.