Avantax Advisory Services Inc. Takes Position in Centene Co. (NYSE:CNC)

Avantax Advisory Services Inc. bought a new position in Centene Co. (NYSE:CNCFree Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,983 shares of the company’s stock, valued at approximately $221,000.

Several other hedge funds have also modified their holdings of CNC. Checchi Capital Advisers LLC boosted its stake in shares of Centene by 6.9% during the 4th quarter. Checchi Capital Advisers LLC now owns 3,741 shares of the company’s stock valued at $278,000 after buying an additional 243 shares during the period. Boston Partners grew its stake in shares of Centene by 4.7% in the 4th quarter. Boston Partners now owns 8,619,750 shares of the company’s stock valued at $639,878,000 after buying an additional 385,839 shares in the last quarter. Ieq Capital LLC increased its holdings in Centene by 16.7% in the fourth quarter. Ieq Capital LLC now owns 20,951 shares of the company’s stock worth $1,555,000 after buying an additional 2,993 shares during the last quarter. Forum Financial Management LP raised its position in Centene by 4.9% during the fourth quarter. Forum Financial Management LP now owns 8,884 shares of the company’s stock valued at $659,000 after acquiring an additional 417 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in Centene by 23.9% in the fourth quarter. Principal Financial Group Inc. now owns 736,545 shares of the company’s stock worth $54,659,000 after acquiring an additional 142,240 shares in the last quarter. 93.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CNC has been the subject of several analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $90.00 price objective on shares of Centene in a research note on Thursday, April 4th. Wells Fargo & Company upped their price target on Centene from $89.00 to $93.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Deutsche Bank Aktiengesellschaft raised their price objective on Centene from $81.00 to $82.00 and gave the company a “hold” rating in a research note on Tuesday, April 30th. StockNews.com raised Centene from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 29th. Finally, Stephens reissued an “equal weight” rating and issued a $85.00 price target (down previously from $92.00) on shares of Centene in a research report on Thursday, March 21st. Six 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.23.

Get Our Latest Report on CNC

Centene Stock Performance

NYSE:CNC opened at $74.63 on Monday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.17 and a current ratio of 1.17. The firm’s 50-day moving average is $75.47 and its 200-day moving average is $75.66. Centene Co. has a 52-week low of $60.83 and a 52-week high of $81.42. The company has a market cap of $39.83 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 0.96 and a beta of 0.41.

Centene (NYSE:CNCGet Free Report) last posted its quarterly earnings results on Friday, April 26th. The company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.09 by $0.17. The firm had revenue of $40.41 billion during the quarter, compared to analysts’ expectations of $36.43 billion. Centene had a return on equity of 14.19% and a net margin of 1.76%. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.11 EPS. Equities research analysts anticipate that Centene Co. will post 6.82 earnings per share for the current year.

Insiders Place Their Bets

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

About Centene

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Centene (NYSE:CNC)

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