Bank Julius Baer & Co. Ltd Zurich cut its holdings in shares of Centene Co. (NYSE:CNC – Get Rating) by 29.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 737,047 shares of the company's stock after selling 303,852 shares during the period. Bank Julius Baer & Co. Ltd Zurich owned approximately 0.13% of Centene worth $57,350,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of CNC. Chilton Capital Management LLC acquired a new stake in Centene in the 2nd quarter worth about $25,000. Fieldpoint Private Securities LLC boosted its holdings in Centene by 112.0% in the 2nd quarter. Fieldpoint Private Securities LLC now owns 335 shares of the company's stock worth $28,000 after buying an additional 177 shares during the last quarter. Crewe Advisors LLC acquired a new position in shares of Centene during the 2nd quarter worth approximately $31,000. Larson Financial Group LLC lifted its position in Centene by 30.1% during the second quarter. Larson Financial Group LLC now owns 592 shares of the company's stock worth $50,000 after buying an additional 137 shares in the last quarter. Finally, CoreCap Advisors LLC purchased a new stake in Centene in the 2nd quarter valued at $51,000. 93.28% of the stock is currently owned by institutional investors and hedge funds.
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Analyst Upgrades and Downgrades
CNC has been the subject of a number of recent research reports. JPMorgan Chase & Co. cut their target price on Centene from $103.00 to $98.00 and set an "overweight" rating for the company in a research note on Friday, January 6th. Barclays cut their target price on Centene from $107.00 to $100.00 and set an "overweight" rating for the company in a research note on Monday, October 3rd. Credit Suisse Group raised their target price on Centene from $104.00 to $106.00 and gave the stock an "outperform" rating in a research note on Monday, December 19th. Bank of America cut Centene from a "neutral" rating to an "underperform" rating and lowered their price target for the stock from $100.00 to $85.00 in a report on Tuesday, December 13th. Finally, Argus increased their price target on Centene from $95.00 to $99.00 in a report on Wednesday, December 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $101.35.
Centene Stock Up 0.3 %
Shares of Centene stock traded up $0.21 during trading hours on Monday, hitting $76.36. 182,321 shares of the company's stock traded hands, compared to its average volume of 3,611,194. The company has a market cap of $43.24 billion, a PE ratio of 22.20, a PEG ratio of 0.90 and a beta of 0.60. Centene Co. has a twelve month low of $73.19 and a twelve month high of $98.53. The stock has a 50 day simple moving average of $81.57 and a 200-day simple moving average of $84.71. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.71.
Centene (NYSE:CNC – Get Rating) last issued its earnings results on Tuesday, October 25th. The company reported $1.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.22 by $0.08. Centene had a net margin of 1.42% and a return on equity of 13.08%. The firm had revenue of $35.84 billion for the quarter, compared to analysts' expectations of $35.45 billion. During the same quarter last year, the company posted $1.26 earnings per share. Centene's revenue was up 10.6% on a year-over-year basis. Equities research analysts anticipate that Centene Co. will post 5.72 earnings per share for the current fiscal year.
Centene declared that its Board of Directors has authorized a share buyback plan on Friday, December 16th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its shares are undervalued.
Centene Company Profile
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Centene Corporation operates as a multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. Its 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 cover dually eligible individuals, as well as aged, blind, or disabled programs.
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