Winnow Wealth LLC Acquires New Position in Centene Corporation $CNC

Winnow Wealth LLC purchased a new stake in Centene Corporation (NYSE:CNC) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 30,567 shares of the company’s stock, valued at approximately $1,100,000.

Other hedge funds have also recently bought and sold shares of the company. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of Centene in the third quarter valued at about $27,000. WPG Advisers LLC boosted its stake in Centene by 44.5% during the third 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 raised its position in Centene by 11,011.1% in the third quarter. Bogart Wealth LLC now owns 1,000 shares of the company’s stock worth $36,000 after purchasing an additional 991 shares in the last quarter. Financial Network Wealth Advisors LLC raised its holdings in shares of Centene by 54.9% in the 3rd quarter. Financial Network Wealth Advisors LLC now owns 1,100 shares of the company’s stock worth $39,000 after buying an additional 390 shares in the last quarter. Finally, Quent Capital LLC bought a new stake in Centene in the third quarter valued at $45,000. 93.63% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Centene in a research note on Wednesday, January 21st. Truist Financial raised their price objective on shares of Centene from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Monday, January 5th. Oppenheimer reissued an “outperform” rating and issued a $45.00 target price on shares of Centene in a report on Thursday, October 30th. Mizuho set a $47.00 price objective on Centene in a research report on Friday, January 9th. Finally, The Goldman Sachs Group restated a “sell” rating and set a $38.00 target price (up previously from $33.00) on shares of Centene in a report on Thursday, October 30th. Three equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Centene presently has an average rating of “Hold” and an average price target of $40.81.

Centene Trading Down 0.7%

CNC opened at $43.31 on Friday. Centene Corporation has a fifty-two week low of $25.08 and a fifty-two week high of $66.81. The company has a market cap of $21.29 billion, a price-to-earnings ratio of -4.00, a price-to-earnings-growth ratio of 1.01 and a beta of 0.48. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a 50 day simple moving average of $41.86 and a 200 day simple moving average of $35.47.

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

About Centene

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.