Rakuten Investment Management Inc. Makes New $441,000 Investment in Centene Corporation $CNC

Rakuten Investment Management Inc. bought a new stake in Centene Corporation (NYSE:CNC) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 12,350 shares of the company’s stock, valued at approximately $441,000.

Several other large investors have also made changes to their positions in the company. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Centene during the third quarter valued at approximately $27,000. WPG Advisers LLC increased its stake in shares of Centene by 44.5% in the 3rd quarter. WPG Advisers LLC now owns 915 shares of the company’s stock valued at $33,000 after purchasing an additional 282 shares during the last quarter. Bogart Wealth LLC raised its holdings in shares of Centene by 11,011.1% during the 3rd quarter. Bogart Wealth LLC now owns 1,000 shares of the company’s stock worth $36,000 after buying an additional 991 shares in the last quarter. Financial Network Wealth Advisors LLC boosted its stake in Centene by 54.9% in the third quarter. Financial Network Wealth Advisors LLC now owns 1,100 shares of the company’s stock valued at $39,000 after buying an additional 390 shares in the last quarter. Finally, Quent Capital LLC bought a new position in Centene in the third quarter valued at about $45,000. Institutional investors and hedge funds own 93.63% of the company’s stock.

Analyst Upgrades and Downgrades

CNC has been the topic of a number of research analyst reports. The Goldman Sachs Group restated a “sell” rating and issued a $38.00 price target (up from $33.00) on shares of Centene in a research note on Thursday, October 30th. Cantor Fitzgerald raised their target price on shares of Centene from $38.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. Morgan Stanley upped their price target on shares of Centene from $28.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 14th. Wells Fargo & Company set a $43.00 price objective on Centene and gave the company an “equal weight” rating in a report on Wednesday, January 7th. Finally, Robert W. Baird upped their target price on Centene from $28.00 to $36.00 and gave the stock a “neutral” rating in a report on Thursday, December 11th. Three analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Centene currently has an average rating of “Hold” and an average price target of $40.81.

Centene Stock Performance

NYSE CNC opened at $46.07 on Monday. The company has a market capitalization of $22.65 billion, a price-to-earnings ratio of -4.26, a PEG ratio of 1.05 and a beta of 0.48. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.83. Centene Corporation has a twelve month low of $25.08 and a twelve month high of $66.81. The stock has a fifty day simple moving average of $41.15 and a 200 day simple moving average of $35.11.

Centene (NYSE:CNC) last released its quarterly earnings results on Wednesday, October 29th. The company reported $0.50 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 in the previous year, the company posted $1.62 EPS. The business’s revenue was up 18.2% on a year-over-year basis. Sell-side analysts expect that Centene Corporation will post 6.86 EPS for the current year.

Centene Profile

Centene Corporation (NYSE: CNC) is a diversified, multi-national healthcare enterprise that specializes in providing services to government-sponsored and national health programs. The company primarily acts as a managed care organization, delivering healthcare coverage and administering benefits for Medicaid, the Children’s Health Insurance Program (CHIP), Medicare Advantage, and individual marketplace plans. Centene also contracts with federal and state agencies to manage specialty care programs and community-based services for vulnerable populations.

Centene’s offerings extend beyond traditional insurance to include a range of specialty and support services.