Centene Co. (NYSE:CNC) Shares Bought by Farther Finance Advisors LLC

Farther Finance Advisors LLC boosted its position in Centene Co. (NYSE:CNC) by 32.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,333 shares of the company’s stock after buying an additional 1,546 shares during the period. Farther Finance Advisors LLC’s holdings in Centene were worth $383,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CNC. Vontobel Holding Ltd. increased its stake in Centene by 9.4% in the 4th quarter. Vontobel Holding Ltd. now owns 10,217 shares of the company’s stock valued at $619,000 after purchasing an additional 882 shares in the last quarter. Capital Performance Advisors LLP increased its position in shares of Centene by 37.4% in the fourth quarter. Capital Performance Advisors LLP now owns 3,551 shares of the company’s stock valued at $215,000 after buying an additional 967 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of Centene by 1.2% during the 4th quarter. CIBC Asset Management Inc now owns 77,798 shares of the company’s stock worth $4,713,000 after buying an additional 905 shares during the last quarter. D.A. Davidson & CO. purchased a new stake in shares of Centene in the 4th quarter worth about $3,378,000. Finally, Atria Wealth Solutions Inc. increased its holdings in Centene by 23.4% during the 4th quarter. Atria Wealth Solutions Inc. now owns 9,710 shares of the company’s stock valued at $588,000 after acquiring an additional 1,842 shares in the last quarter. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Robert W. Baird cut their price target on Centene from $71.00 to $69.00 and set a “neutral” rating for the company in a report on Tuesday, April 15th. Wall Street Zen lowered shares of Centene from a “strong-buy” rating to a “buy” rating in a report on Monday, April 28th. Guggenheim reiterated a “neutral” rating on shares of Centene in a report on Tuesday, April 29th. Barclays reissued an “equal weight” rating and set a $65.00 price objective (down previously from $84.00) on shares of Centene in a research note on Monday, June 2nd. Finally, Morgan Stanley initiated coverage on shares of Centene in a research note on Monday, June 9th. They issued an “overweight” rating and a $70.00 target price for the company. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $77.71.

Centene Trading Down 1.0%

Shares of NYSE:CNC opened at $54.66 on Tuesday. The stock has a market capitalization of $27.20 billion, a price-to-earnings ratio of 8.76, a PEG ratio of 0.80 and a beta of 0.45. Centene Co. has a 1-year low of $53.99 and a 1-year high of $80.59. The company has a 50 day moving average price of $59.13 and a 200 day moving average price of $59.88. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.10 and a current ratio of 1.11.

Centene (NYSE:CNC) last posted its quarterly earnings results on Friday, April 25th. The company reported $2.90 earnings per share for the quarter, topping analysts’ consensus estimates of $2.52 by $0.38. The company had revenue of $46.62 billion during the quarter, compared to the consensus estimate of $43.16 billion. Centene had a return on equity of 13.85% and a net margin of 2.03%. The business’s quarterly revenue was up 15.4% on a year-over-year basis. During the same period last year, the business earned $2.26 EPS. On average, research analysts anticipate that Centene Co. will post 6.86 EPS for the current fiscal year.

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.