Stanley Capital Management LLC Raises Position in Centene Co. (NYSE:CNC)

Stanley Capital Management LLC lifted its stake in shares of Centene Co. (NYSE:CNC) by 3.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 218,800 shares of the company’s stock after acquiring an additional 8,000 shares during the quarter. Centene accounts for about 3.0% of Stanley Capital Management LLC’s portfolio, making the stock its 14th largest position. Stanley Capital Management LLC’s holdings in Centene were worth $14,506,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of CNC. Swedbank AB acquired a new stake in Centene in the 1st quarter valued at about $914,080,000. Harris Associates L P raised its holdings in Centene by 172.8% in the fourth quarter. Harris Associates L P now owns 10,863,367 shares of the company’s stock valued at $806,170,000 after acquiring an additional 6,881,450 shares in the last quarter. Boston Partners lifted its stake in Centene by 0.4% in the first quarter. Boston Partners now owns 8,652,177 shares of the company’s stock worth $678,033,000 after acquiring an additional 32,427 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Centene by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,491,968 shares of the company’s stock worth $364,117,000 after acquiring an additional 25,595 shares in the last quarter. Finally, Capital International Investors increased its position in shares of Centene by 60.2% in the 1st quarter. Capital International Investors now owns 5,216,486 shares of the company’s stock valued at $409,390,000 after purchasing an additional 1,959,460 shares during the last quarter. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Centene Stock Performance

Shares of CNC stock opened at $75.35 on Tuesday. Centene Co. has a 52-week low of $63.45 and a 52-week high of $81.42. The stock’s 50-day moving average price is $74.67 and its 200 day moving average price is $73.43. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $40.21 billion, a PE ratio of 14.98, a price-to-earnings-growth ratio of 0.99 and a beta of 0.48.

Centene (NYSE:CNC) last released its quarterly earnings results on Friday, July 26th. The company reported $2.42 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.02). Centene had a return on equity of 14.45% and a net margin of 1.79%. The company had revenue of $39.84 billion for the quarter, compared to analysts’ expectations of $36.83 billion. During the same quarter last year, the company earned $2.10 EPS. Centene’s revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, equities research analysts forecast that Centene Co. will post 6.82 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $90.00 price objective on shares of Centene in a research report on Friday. Jefferies Financial Group downgraded Centene from a “buy” rating to a “hold” rating and decreased their price target for the stock from $83.00 to $69.00 in a report on Wednesday, July 24th. Stephens reiterated an “equal weight” rating and issued a $78.00 price objective on shares of Centene in a report on Monday, August 5th. Barclays decreased their target price on Centene from $98.00 to $97.00 and set an “overweight” rating for the company in a research note on Thursday, September 5th. Finally, TD Cowen increased their price target on shares of Centene from $80.00 to $89.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Centene presently has an average rating of “Moderate Buy” and an average target price of $85.58.

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.