Cibc World Market Inc. Has $204,000 Stock Position in Centene Co. (NYSE:CNC)

Cibc World Market Inc. reduced its stake in shares of Centene Co. (NYSE:CNCGet Rating) by 94.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,407 shares of the company’s stock after selling 43,926 shares during the quarter. Cibc World Market Inc.’s holdings in Centene were worth $204,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Fieldpoint Private Securities LLC grew its position in Centene by 112.0% during the second quarter. Fieldpoint Private Securities LLC now owns 335 shares of the company’s stock worth $28,000 after buying an additional 177 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in shares of Centene by 145.5% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 356 shares of the company’s stock worth $30,000 after purchasing an additional 211 shares in the last quarter. Crewe Advisors LLC bought a new stake in shares of Centene during the second quarter valued at approximately $31,000. Larson Financial Group LLC lifted its position in Centene by 30.1% in the second quarter. Larson Financial Group LLC now owns 592 shares of the company’s stock worth $50,000 after purchasing an additional 137 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. acquired a new stake in Centene during the second quarter worth $55,000. 94.74% of the stock is currently owned by institutional investors and hedge funds.

Centene Price Performance

Shares of CNC stock opened at $83.63 on Friday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $47.36 billion, a price-to-earnings ratio of 24.38, a PEG ratio of 1.08 and a beta of 0.60. The firm’s 50 day moving average is $80.30 and its 200-day moving average is $84.89. Centene Co. has a 1 year low of $69.51 and a 1 year high of $98.53.

Centene (NYSE:CNCGet Rating) last posted its quarterly earnings data on Tuesday, October 25th. The company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.08. The firm had revenue of $35.84 billion for the quarter, compared to the consensus estimate of $35.45 billion. Centene had a return on equity of 13.08% and a net margin of 1.42%. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.26 EPS. Sell-side analysts forecast that Centene Co. will post 5.71 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CNC. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Centene from $99.00 to $94.00 in a research note on Wednesday, October 26th. Argus initiated coverage on shares of Centene in a research note on Friday, September 30th. They set a “buy” rating and a $90.00 price target for the company. Wells Fargo & Company lowered Centene from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $103.00 to $99.00 in a research note on Friday, August 26th. Cowen cut their target price on Centene from $108.00 to $101.00 in a research report on Thursday, September 22nd. Finally, Cowen lowered their price target on Centene from $108.00 to $101.00 in a research report on Thursday, September 22nd. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $98.68.

About Centene

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Centene Corporation operates as a multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. Its Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term services and support, foster care, and medicare-medicaid plans, which cover dually eligible individuals, as well as aged, blind, or disabled programs.

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Institutional Ownership by Quarter for Centene (NYSE:CNC)

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