Fmr LLC Has $1.30 Billion Position in Centene Co. (NYSE:CNC)

Fmr LLC decreased its position in shares of Centene Co. (NYSE:CNC) by 12.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 21,429,162 shares of the company’s stock after selling 3,141,348 shares during the quarter. Fmr LLC’s holdings in Centene were worth $1,298,179,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of CNC. Stratos Wealth Partners LTD. boosted its holdings in Centene by 4.1% in the 4th quarter. Stratos Wealth Partners LTD. now owns 4,094 shares of the company’s stock valued at $248,000 after purchasing an additional 163 shares during the period. Capital Advisors Ltd. LLC boosted its stake in shares of Centene by 75.3% in the fourth quarter. Capital Advisors Ltd. LLC now owns 412 shares of the company’s stock valued at $25,000 after buying an additional 177 shares during the period. Private Trust Co. NA grew its position in Centene by 23.7% during the fourth quarter. Private Trust Co. NA now owns 956 shares of the company’s stock worth $58,000 after buying an additional 183 shares in the last quarter. Howard Capital Management Inc. raised its holdings in Centene by 5.4% in the 4th quarter. Howard Capital Management Inc. now owns 3,591 shares of the company’s stock valued at $218,000 after acquiring an additional 184 shares in the last quarter. Finally, Intellectus Partners LLC lifted its position in shares of Centene by 2.8% during the 4th quarter. Intellectus Partners LLC now owns 7,224 shares of the company’s stock valued at $438,000 after acquiring an additional 200 shares during the period. Institutional investors own 93.63% of the company’s stock.

Centene Stock Down 3.4 %

CNC stock opened at $62.13 on Monday. 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 Co. has a fifty-two week low of $55.03 and a fifty-two week high of $80.59. The stock’s 50 day simple moving average is $59.72 and its 200 day simple moving average is $62.16. The company has a market cap of $30.82 billion, a P/E ratio of 9.96, a price-to-earnings-growth ratio of 0.80 and a beta of 0.53.

Centene (NYSE:CNC) last issued its earnings results on Tuesday, February 4th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.31. Centene had a return on equity of 13.85% and a net margin of 2.03%. The company had revenue of $40.81 billion for the quarter, compared to analysts’ expectations of $38.78 billion. During the same period last year, the business earned $0.45 EPS. Centene’s quarterly revenue was up 3.4% compared to the same quarter last year. On average, research analysts expect that Centene Co. will post 6.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Truist Financial dropped their price target on Centene from $89.00 to $84.00 and set a “buy” rating for the company in a research note on Friday, December 13th. Cantor Fitzgerald restated an “overweight” rating and set a $90.00 target price on shares of Centene in a research note on Wednesday, December 11th. Stephens reduced their price target on shares of Centene from $75.00 to $73.00 and set an “equal weight” rating on the stock in a research note on Friday, December 13th. Wells Fargo & Company cut their price target on Centene from $76.00 to $72.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. Finally, Oppenheimer cut their price target on shares of Centene from $95.00 to $85.00 and set an “outperform” rating on the stock in a report on Friday, December 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $79.92.

Centene 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.