Osborne Partners Capital Management LLC Lowers Holdings in Centene Co. (NYSE:CNC)

Osborne Partners Capital Management LLC decreased its position in shares of Centene Co. (NYSE:CNC) by 0.8% in the third quarter, HoldingsChannel reports. The firm owned 210,641 shares of the company’s stock after selling 1,721 shares during the quarter. Osborne Partners Capital Management LLC’s holdings in Centene were worth $15,857,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC raised its position in shares of Centene by 11.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 38,582 shares of the company’s stock valued at $3,028,000 after buying an additional 3,963 shares in the last quarter. 180 Wealth Advisors LLC bought a new stake in shares of Centene in the 1st quarter valued at approximately $202,000. Vicus Capital boosted its holdings in shares of Centene by 19.1% in the 1st quarter. Vicus Capital now owns 3,501 shares of the company’s stock worth $275,000 after purchasing an additional 562 shares during the period. Diversified Trust Co increased its position in shares of Centene by 30.6% during the 1st quarter. Diversified Trust Co now owns 20,624 shares of the company’s stock valued at $1,619,000 after purchasing an additional 4,828 shares during the last quarter. Finally, Oliver Luxxe Assets LLC lifted its position in Centene by 1.0% in the first quarter. Oliver Luxxe Assets LLC now owns 46,214 shares of the company’s stock worth $3,627,000 after buying an additional 449 shares during the last quarter. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Centene Stock Performance

CNC stock opened at $64.22 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.17 and a quick ratio of 1.17. Centene Co. has a 1-year low of $59.77 and a 1-year high of $81.42. The business has a 50-day moving average price of $73.16 and a 200 day moving average price of $72.37. The company has a market capitalization of $34.27 billion, a P/E ratio of 12.77, a PEG ratio of 0.98 and a beta of 0.48.

Centene (NYSE:CNC) last released its quarterly earnings data on Friday, October 25th. The company reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.23. The firm had revenue of $42.02 billion for the quarter, compared to the consensus estimate of $37.91 billion. Centene had a net margin of 1.79% and a return on equity of 14.45%. As a group, equities research analysts forecast that Centene Co. will post 6.8 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Jefferies Financial Group downgraded shares of Centene from a “buy” rating to a “hold” rating and reduced their target price for the company from $83.00 to $69.00 in a research note on Wednesday, July 24th. Truist Financial dropped their target price on Centene from $92.00 to $89.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Robert W. Baird reduced their price target on Centene from $83.00 to $66.00 and set a “neutral” rating on the stock in a report on Friday. Cantor Fitzgerald restated an “overweight” rating and set a $90.00 price objective on shares of Centene in a report on Tuesday, October 1st. Finally, Barclays reduced their target price on Centene from $98.00 to $97.00 and set an “overweight” rating on the stock in a research note on Thursday, September 5th. Seven investment 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 MarketBeat.com, Centene presently has an average rating of “Moderate Buy” and a consensus price target of $84.17.

Centene Company 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.