Cibc World Markets Corp Has $4.88 Million Holdings in Centene Co. (NYSE:CNC)

Cibc World Markets Corp grew its stake in Centene Co. (NYSE:CNC) by 12.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 80,627 shares of the company’s stock after buying an additional 8,787 shares during the period. Cibc World Markets Corp’s holdings in Centene were worth $4,884,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in CNC. Capital Advisors Ltd. LLC lifted its position in shares of Centene by 75.3% in the fourth quarter. Capital Advisors Ltd. LLC now owns 412 shares of the company’s stock worth $25,000 after buying an additional 177 shares during the last quarter. Rialto Wealth Management LLC acquired a new stake in shares of Centene in the fourth quarter worth about $30,000. OFI Invest Asset Management acquired a new stake in shares of Centene in the fourth quarter worth about $33,000. SRS Capital Advisors Inc. lifted its position in shares of Centene by 73.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 631 shares of the company’s stock worth $38,000 after buying an additional 267 shares during the last quarter. Finally, Riverview Trust Co lifted its position in shares of Centene by 172.7% in the fourth quarter. Riverview Trust Co now owns 758 shares of the company’s stock worth $46,000 after buying an additional 480 shares during the last quarter. Institutional investors and hedge funds own 93.63% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CNC shares. Oppenheimer dropped their price objective on Centene from $95.00 to $85.00 and set an “outperform” rating on the stock in a research note on Friday, December 13th. Robert W. Baird lifted their price objective on Centene from $66.00 to $71.00 in a research note on Tuesday, February 4th. Wells Fargo & Company dropped their price objective on Centene from $76.00 to $72.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. Truist Financial dropped their price objective on Centene from $89.00 to $84.00 and set a “buy” rating on the stock in a research note on Friday, December 13th. Finally, Argus lowered Centene from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Centene presently has a consensus rating of “Moderate Buy” and an average target price of $79.92.

Centene Trading Down 0.7 %

CNC stock opened at $59.26 on Thursday. Centene Co. has a 1-year low of $55.03 and a 1-year high of $80.59. The firm has a market cap of $29.40 billion, a P/E ratio of 9.50, a P/E/G ratio of 0.80 and a beta of 0.40. The business’s 50 day moving average is $60.39 and its 200-day moving average is $63.43. The company has a current ratio of 1.11, a quick ratio of 1.10 and a debt-to-equity ratio of 0.70.

Centene (NYSE:CNC) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $38.78 billion. During the same period in the prior year, the company posted $0.45 EPS. The company’s revenue was up 3.4% compared to the same quarter last year. Equities analysts anticipate that Centene Co. will post 6.86 earnings per share for the current fiscal 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.