Vontobel Holding Ltd. Trims Stock Position in Centene Co. (NYSE:CNC)

Vontobel Holding Ltd. lowered its stake in Centene Co. (NYSE:CNC) by 1.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,171 shares of the company’s stock after selling 351 shares during the period. Vontobel Holding Ltd.’s holdings in Centene were worth $1,720,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Operose Advisors LLC acquired a new position in Centene in the 3rd quarter valued at $25,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Centene during the fourth quarter worth about $25,000. Coppell Advisory Solutions Corp. purchased a new position in Centene during the fourth quarter worth about $25,000. OFI Invest Asset Management purchased a new stake in Centene in the 3rd quarter valued at approximately $26,000. Finally, Headinvest LLC acquired a new position in Centene during the 3rd quarter worth approximately $35,000. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Centene Price Performance

CNC stock opened at $75.15 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.11 and a current ratio of 1.11. The stock’s 50 day moving average price is $76.56 and its 200 day moving average price is $74.57. The firm has a market cap of $40.20 billion, a P/E ratio of 15.31, a PEG ratio of 0.90 and a beta of 0.38. Centene Co. has a 1 year low of $60.83 and a 1 year high of $81.42.

Centene (NYSE:CNC) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. Centene had a return on equity of 14.26% and a net margin of 1.75%. The business had revenue of $39.46 billion for the quarter, compared to analyst estimates of $36.16 billion. During the same quarter last year, the company earned $0.86 earnings per share. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, sell-side analysts expect that Centene Co. will post 6.75 earnings per share for the current fiscal year.

Insider Activity

In related news, President Kenneth J. Fasola sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $75.07, for a total transaction of $900,840.00. Following the sale, the president now owns 235,365 shares in the company, valued at $17,668,850.55. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Lori Jean Robinson sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $77.41, for a total transaction of $774,100.00. Following the completion of the sale, the director now owns 11,455 shares of the company’s stock, valued at $886,731.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Kenneth J. Fasola sold 12,000 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $75.07, for a total transaction of $900,840.00. Following the transaction, the president now owns 235,365 shares in the company, valued at $17,668,850.55. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

CNC has been the topic of a number of analyst reports. Barclays started coverage on Centene in a research note on Wednesday, March 6th. They issued an “overweight” rating and a $101.00 price target on the stock. Stephens reaffirmed an “equal weight” rating and set a $85.00 price target (down from $92.00) on shares of Centene in a research note on Thursday, March 21st. StockNews.com downgraded shares of Centene from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 28th. Wells Fargo & Company increased their target price on shares of Centene from $89.00 to $93.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $90.00 price target on shares of Centene in a research note on Thursday, April 4th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $85.38.

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.