Sivik Global Healthcare LLC trimmed its stake in Centene Co. (NYSE:CNC – Get Rating) by 33.3% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 50,000 shares of the company's stock after selling 25,000 shares during the period. Centene comprises 2.2% of Sivik Global Healthcare LLC's investment portfolio, making the stock its 25th biggest holding. Sivik Global Healthcare LLC's holdings in Centene were worth $3,891,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. Cibc World Market Inc. boosted its holdings in Centene by 1,401.4% during the 1st quarter. Cibc World Market Inc. now owns 46,333 shares of the company's stock valued at $3,901,000 after acquiring an additional 43,247 shares during the period. Vontobel Holding Ltd. boosted its position in Centene by 7.2% in the 1st quarter. Vontobel Holding Ltd. now owns 9,734 shares of the company's stock valued at $841,000 after buying an additional 657 shares during the period. Blair William & Co. IL increased its position in shares of Centene by 104.7% during the first quarter. Blair William & Co. IL now owns 43,760 shares of the company's stock worth $3,684,000 after acquiring an additional 22,382 shares during the period. Brighton Jones LLC acquired a new position in shares of Centene during the first quarter worth about $203,000. Finally, Candriam Luxembourg S.C.A. grew its holdings in Centene by 10.0% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 37,404 shares of the company's stock worth $3,149,000 after acquiring an additional 3,414 shares in the last quarter. Institutional investors and hedge funds own 93.28% of the company's stock.
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Analyst Upgrades and Downgrades
A number of research firms recently issued reports on CNC. JPMorgan Chase & Co. dropped their price target on Centene from $103.00 to $98.00 and set an "overweight" rating on the stock in a research note on Friday, January 6th. Bank of America downgraded Centene from a "neutral" rating to an "underperform" rating and reduced their price objective for the company from $100.00 to $85.00 in a research note on Tuesday, December 13th. Deutsche Bank Aktiengesellschaft dropped their target price on Centene from $99.00 to $94.00 in a report on Wednesday, October 26th. Barclays lowered their price objective on shares of Centene from $107.00 to $100.00 and set an "overweight" rating on the stock in a research report on Monday, October 3rd. Finally, Credit Suisse Group raised their target price on shares of Centene from $104.00 to $106.00 and gave the stock an "outperform" rating in a research note on Monday, December 19th. One analyst has rated the stock with a sell rating, two have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $101.35.
Centene Price Performance
Shares of Centene stock traded up $0.12 on Monday, hitting $76.27. The company's stock had a trading volume of 1,011,269 shares, compared to its average volume of 3,670,405. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.71. The firm has a fifty day moving average price of $81.57 and a 200-day moving average price of $84.71. Centene Co. has a 52-week low of $73.19 and a 52-week high of $98.53. The company has a market capitalization of $43.19 billion, a P/E ratio of 22.20, a price-to-earnings-growth ratio of 0.90 and a beta of 0.60.
Centene (NYSE:CNC – Get Rating) last announced its quarterly earnings results on Tuesday, October 25th. The company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.08. Centene had a net margin of 1.42% and a return on equity of 13.08%. The company had revenue of $35.84 billion for the quarter, compared to the consensus estimate of $35.45 billion. During the same quarter in the prior year, the firm earned $1.26 earnings per share. The company's revenue for the quarter was up 10.6% compared to the same quarter last year. On average, equities research analysts expect that Centene Co. will post 5.72 earnings per share for the current fiscal year.
Centene announced that its board has approved a share repurchase program on Friday, December 16th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to buy up to 4.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its stock is 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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