Mount Yale Investment Advisors LLC Grows Stock Holdings in Centene Co. (NYSE:CNC)

Mount Yale Investment Advisors LLC grew its stake in shares of Centene Co. (NYSE:CNC) by 2.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,915 shares of the company’s stock after acquiring an additional 223 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Centene were worth $525,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Rise Advisors LLC purchased a new stake in Centene during the first quarter worth $25,000. WR Wealth Planners LLC grew its stake in Centene by 41.4% in the 2nd quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock valued at $31,000 after acquiring an additional 137 shares during the last quarter. Chris Bulman Inc purchased a new position in Centene during the 2nd quarter valued at about $33,000. Riverview Trust Co raised its position in Centene by 154.6% during the second quarter. Riverview Trust Co now owns 527 shares of the company’s stock worth $35,000 after acquiring an additional 320 shares during the last quarter. Finally, Neo Ivy Capital Management acquired a new stake in shares of Centene in the fourth quarter valued at approximately $40,000. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on CNC. Robert W. Baird started coverage on Centene in a research report on Thursday, May 30th. They issued a “neutral” rating and a $83.00 price objective on the stock. TD Cowen boosted their price target on Centene from $80.00 to $89.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Barclays decreased their price objective on Centene from $98.00 to $97.00 and set an “overweight” rating on the stock in a report on Thursday, September 5th. Wells Fargo & Company dropped their target price on Centene from $93.00 to $91.00 and set an “overweight” rating for the company in a research note on Friday, September 13th. Finally, Oppenheimer decreased their price target on Centene from $110.00 to $95.00 and set an “outperform” rating on the stock in a research note on Monday, July 29th. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.58.

Centene Trading Down 0.3 %

Shares of CNC stock opened at $75.35 on Tuesday. Centene Co. has a fifty-two week low of $63.45 and a fifty-two week high of $81.42. The firm’s 50 day moving average price is $74.67 and its two-hundred day moving average price is $73.43. The stock has a market cap of $40.21 billion, a price-to-earnings ratio of 14.98, a price-to-earnings-growth ratio of 0.99 and a beta of 0.48. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.64.

Centene (NYSE:CNC) last announced its quarterly earnings results on Friday, July 26th. The company reported $2.42 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.02). The business had revenue of $39.84 billion for the quarter, compared to analysts’ expectations of $36.83 billion. Centene had a return on equity of 14.45% and a net margin of 1.79%. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period last year, the company posted $2.10 earnings per share. On average, analysts anticipate that Centene Co. will post 6.82 EPS for the current year.

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.