Covestor Ltd Has $123,000 Stock Holdings in Centene Co. (NYSE:CNC)

Covestor Ltd lowered its position in Centene Co. (NYSE:CNC) by 19.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 2,040 shares of the company’s stock after selling 493 shares during the period. Covestor Ltd’s holdings in Centene were worth $123,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of CNC. Capital Advisors Ltd. LLC boosted its stake in Centene by 75.3% during the fourth quarter. Capital Advisors Ltd. LLC now owns 412 shares of the company’s stock worth $25,000 after buying an additional 177 shares in the last quarter. Hurley Capital LLC acquired a new stake in shares of Centene during the 4th quarter valued at about $26,000. Rialto Wealth Management LLC acquired a new position in Centene in the fourth quarter worth about $30,000. OFI Invest Asset Management bought a new position in Centene during the fourth quarter worth about $33,000. Finally, SRS Capital Advisors Inc. boosted its holdings in Centene by 73.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 631 shares of the company’s stock valued at $38,000 after purchasing an additional 267 shares in the last quarter. Institutional investors and hedge funds own 93.63% of the company’s stock.

Centene Stock Performance

CNC opened at $63.82 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.11 and a quick ratio of 1.10. The company has a market capitalization of $31.66 billion, a price-to-earnings ratio of 10.23, a P/E/G ratio of 0.80 and a beta of 0.53. Centene Co. has a 1 year low of $55.03 and a 1 year high of $80.59. The business’s 50-day moving average price is $59.49 and its two-hundred day moving average price is $61.73.

Centene (NYSE:CNC) last released its earnings results on Tuesday, February 4th. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.31. Centene had a net margin of 2.03% and a return on equity of 13.85%. The business had revenue of $40.81 billion during the quarter, compared to the consensus estimate of $38.78 billion. During the same quarter last year, the firm earned $0.45 earnings per share. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. Equities analysts expect that Centene Co. will post 6.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on CNC. UBS Group upgraded Centene from a “neutral” rating to a “buy” rating and raised their target price for the stock from $79.00 to $80.00 in a research report on Friday, December 13th. StockNews.com upgraded shares of Centene from a “buy” rating to a “strong-buy” rating in a research note on Friday. Guggenheim began coverage on Centene in a research report on Wednesday. They issued a “neutral” rating for the company. Barclays upped their price target on shares of Centene from $91.00 to $93.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Finally, Robert W. Baird boosted their target price on shares of Centene from $66.00 to $71.00 in a research note on Tuesday, February 4th. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $80.85.

About Centene

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.