Cambiar Investors LLC Boosts Stake in Centene Corporation $CNC

Cambiar Investors LLC raised its position in shares of Centene Corporation (NYSE:CNC) by 102.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,471,994 shares of the company’s stock after buying an additional 744,926 shares during the quarter. Centene comprises 2.4% of Cambiar Investors LLC’s portfolio, making the stock its 12th biggest holding. Cambiar Investors LLC owned approximately 0.30% of Centene worth $52,521,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Mowery & Schoenfeld Wealth Management LLC bought a new stake in Centene in the third quarter worth $27,000. WPG Advisers LLC grew 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 worth $33,000 after buying an additional 282 shares in the last quarter. Bogart Wealth LLC increased its holdings in shares of Centene by 11,011.1% in 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 during the last quarter. Financial Network Wealth Advisors LLC raised its position in shares of Centene by 54.9% during the 3rd 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 purchased a new position in Centene in the third quarter worth about $45,000. 93.63% of the stock is owned by hedge funds and other institutional investors.

Centene Stock Down 10.3%

Shares of CNC opened at $41.50 on Wednesday. The firm has a fifty day moving average price of $41.43 and a 200-day moving average price of $35.28. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $20.40 billion, a P/E ratio of -3.84, a P/E/G ratio of 1.05 and a beta of 0.48. Centene Corporation has a 12-month low of $25.08 and a 12-month high of $66.81.

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CNC shares. JPMorgan Chase & Co. upped their price objective on Centene from $38.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, January 22nd. TD Cowen restated a “hold” rating on shares of Centene in a research report on Friday, October 31st. Morgan Stanley lifted their price objective on shares of Centene from $28.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 14th. The Goldman Sachs Group reissued a “sell” rating and issued a $38.00 target price (up previously from $33.00) on shares of Centene in a research note on Thursday, October 30th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $45.00 price target on shares of Centene in a research note on Thursday, October 30th. Three investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $40.81.

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.