First Trust Advisors LP boosted its holdings in Centene Corp (NYSE:CNC) by 83.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 987,452 shares of the company’s stock after purchasing an additional 450,328 shares during the period. First Trust Advisors LP’s holdings in Centene were worth $52,434,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of CNC. Advisor Partners LLC lifted its position in shares of Centene by 2.2% during the 4th quarter. Advisor Partners LLC now owns 6,822 shares of the company’s stock valued at $787,000 after buying an additional 148 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Centene by 1.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 8,968 shares of the company’s stock valued at $1,034,000 after buying an additional 158 shares during the last quarter. ETF Managers Group LLC lifted its position in shares of Centene by 15.6% during the 4th quarter. ETF Managers Group LLC now owns 1,203 shares of the company’s stock valued at $139,000 after buying an additional 162 shares during the last quarter. Lincoln National Corp lifted its position in shares of Centene by 1.6% during the 4th quarter. Lincoln National Corp now owns 11,368 shares of the company’s stock valued at $1,311,000 after buying an additional 180 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Centene by 5.0% during the 4th quarter. American Century Companies Inc. now owns 4,041 shares of the company’s stock valued at $466,000 after buying an additional 192 shares during the last quarter. 90.79% of the stock is currently owned by institutional investors and hedge funds.
CNC has been the topic of a number of recent research reports. Cowen initiated coverage on Centene in a research report on Thursday, February 28th. They set an “outperform” rating and a $77.00 price target on the stock. Morgan Stanley dropped their price target on Centene from $83.00 to $75.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 24th. Oppenheimer dropped their price target on Centene from $165.00 to $83.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 6th. ValuEngine lowered Centene from a “hold” rating to a “sell” rating in a research note on Friday, February 8th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $76.00 price objective on shares of Centene in a research note on Thursday, February 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have assigned a buy rating to the company. Centene has an average rating of “Buy” and a consensus price target of $75.80.
Centene (NYSE:CNC) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.07. The company had revenue of $18.44 billion for the quarter, compared to analyst estimates of $17.44 billion. Centene had a return on equity of 14.60% and a net margin of 1.66%. The firm’s revenue for the quarter was up 39.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.17 EPS. Research analysts forecast that Centene Corp will post 4.38 earnings per share for the current year.
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Centene Corporation operates as a diversified and multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. The company's Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term services and support, foster care, and medicare-medicaid plans, which covers dually eligible individuals, as well as aged, blind, or disabled programs.
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