Centene Co. (NYSE:CNC) Stake Reduced by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA decreased its holdings in shares of Centene Co. (NYSE:CNC) by 3.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 228,193 shares of the company’s stock after selling 7,783 shares during the period. Pictet Asset Management Holding SA’s holdings in Centene were worth $13,824,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in CNC. Public Sector Pension Investment Board increased its holdings in shares of Centene by 7.9% in the third quarter. Public Sector Pension Investment Board now owns 21,919 shares of the company’s stock valued at $1,650,000 after buying an additional 1,600 shares in the last quarter. Captrust Financial Advisors raised its position in shares of Centene by 24.6% during the third quarter. Captrust Financial Advisors now owns 28,995 shares of the company’s stock worth $2,183,000 after purchasing an additional 5,716 shares during the period. Cinctive Capital Management LP acquired a new position in shares of Centene in the 3rd quarter valued at $2,666,000. Hilltop Holdings Inc. increased its stake in Centene by 24.4% in the 3rd quarter. Hilltop Holdings Inc. now owns 4,607 shares of the company’s stock worth $347,000 after purchasing an additional 905 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its stake in Centene by 15.4% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 3,203,049 shares of the company’s stock valued at $241,126,000 after buying an additional 428,100 shares in the last quarter. 93.63% of the stock is currently owned by institutional investors.

Centene Stock Down 0.5 %

CNC stock opened at $60.41 on Wednesday. The company has a current ratio of 1.11, a quick ratio of 1.10 and a debt-to-equity ratio of 0.70. The firm has a market cap of $29.97 billion, a PE ratio of 9.68, a PEG ratio of 0.80 and a beta of 0.40. Centene Co. has a 1 year low of $55.03 and a 1 year high of $80.59. The company has a fifty day simple moving average of $59.84 and a 200 day simple moving average of $62.45.

Centene (NYSE:CNC) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.80 EPS for the quarter, beating 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 business had revenue of $40.81 billion for the quarter, compared to analyst estimates of $38.78 billion. During the same quarter in the prior year, the firm posted $0.45 EPS. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. Sell-side analysts anticipate that Centene Co. will post 6.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CNC has been the topic of a number of recent analyst reports. Truist Financial cut their price target on shares of Centene from $89.00 to $84.00 and set a “buy” rating on the stock in a report on Friday, December 13th. Cantor Fitzgerald reissued an “overweight” rating and set a $90.00 target price on shares of Centene in a research note on Wednesday, December 11th. Barclays raised their target price on Centene from $91.00 to $93.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. UBS Group raised Centene from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $79.00 to $80.00 in a research note on Friday, December 13th. Finally, Stephens lowered their target price on Centene from $75.00 to $73.00 and set an “equal weight” rating on the stock in a research note on Friday, December 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently 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.