Banco Bilbao Vizcaya Argentaria S.A. Sells 2,984 Shares of Centene Corporation $CNC

Banco Bilbao Vizcaya Argentaria S.A. cut its stake in shares of Centene Corporation (NYSE:CNC) by 6.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,245 shares of the company’s stock after selling 2,984 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Centene were worth $2,217,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Quarry LP purchased a new stake in Centene in the 1st quarter valued at about $26,000. Assetmark Inc. lifted its stake in Centene by 248.2% in the 2nd quarter. Assetmark Inc. now owns 1,156 shares of the company’s stock worth $63,000 after purchasing an additional 824 shares in the last quarter. GHP Investment Advisors Inc. boosted its position in shares of Centene by 265.8% during the 2nd quarter. GHP Investment Advisors Inc. now owns 1,178 shares of the company’s stock valued at $64,000 after acquiring an additional 856 shares during the last quarter. Atlantic Union Bankshares Corp bought a new position in shares of Centene in the 2nd quarter worth $76,000. Finally, Trust Co. of Toledo NA OH bought a new stake in Centene during the second quarter worth about $77,000. Institutional investors own 93.63% of the company’s stock.

Analyst Ratings Changes

CNC has been the topic of several recent analyst reports. Truist Financial restated a “buy” rating and issued a $45.00 target price (up previously from $42.00) on shares of Centene in a report on Thursday, October 30th. Cantor Fitzgerald boosted their price target on Centene from $38.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Wells Fargo & Company decreased their target price on shares of Centene from $41.00 to $35.00 and set an “equal weight” rating for the company in a report on Wednesday, November 12th. Zacks Research upgraded shares of Centene from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 29th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $45.00 price objective on shares of Centene in a research note on Thursday, October 30th. Three investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Centene has a consensus rating of “Hold” and a consensus target price of $39.47.

Centene Stock Performance

CNC opened at $36.40 on Monday. The firm has a market capitalization of $17.89 billion, a PE ratio of -3.36, a P/E/G ratio of 1.24 and a beta of 0.49. Centene Corporation has a 12-month low of $25.08 and a 12-month high of $66.81. The firm has a 50 day moving average of $34.97 and a two-hundred day moving average of $39.75. The company has a current ratio of 1.08, a quick ratio of 1.10 and a debt-to-equity ratio of 0.83.

Centene (NYSE:CNC) last announced its earnings results on Wednesday, October 29th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.71. Centene had a positive return on equity of 7.82% and a negative net margin of 2.85%.The firm had revenue of $49.69 billion for the quarter, compared to analyst estimates of $47.50 billion. During the same quarter last year, the firm posted $1.62 EPS. The business’s revenue was up 18.2% on a year-over-year basis. On average, analysts anticipate that Centene Corporation will post 6.86 EPS for the current year.

Centene Company 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.