MV Capital Management Inc. Has $1.93 Million Stock Position in Centene Co. (NYSE:CNC)

MV Capital Management Inc. lifted its stake in shares of Centene Co. (NYSE:CNC) by 0.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,889 shares of the company’s stock after acquiring an additional 202 shares during the period. MV Capital Management Inc.’s holdings in Centene were worth $1,932,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Stratos Wealth Partners LTD. raised its stake in shares of Centene by 4.1% in the 4th quarter. Stratos Wealth Partners LTD. now owns 4,094 shares of the company’s stock valued at $248,000 after purchasing an additional 163 shares during the period. Capital Advisors Ltd. LLC raised its position in Centene by 75.3% in the 4th quarter. Capital Advisors Ltd. LLC now owns 412 shares of the company’s stock valued at $25,000 after buying an additional 177 shares during the last quarter. Private Trust Co. NA boosted its position in Centene by 23.7% during the 4th quarter. Private Trust Co. NA now owns 956 shares of the company’s stock worth $58,000 after acquiring an additional 183 shares during the last quarter. Howard Capital Management Inc. grew its stake in shares of Centene by 5.4% during the 4th quarter. Howard Capital Management Inc. now owns 3,591 shares of the company’s stock worth $218,000 after acquiring an additional 184 shares in the last quarter. Finally, Intellectus Partners LLC lifted its position in shares of Centene by 2.8% in the fourth quarter. Intellectus Partners LLC now owns 7,224 shares of the company’s stock worth $438,000 after purchasing an additional 200 shares in the last quarter. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Centene Stock Performance

NYSE CNC opened at $59.96 on Friday. The stock has a market cap of $29.74 billion, a PE ratio of 9.61, a P/E/G ratio of 0.80 and a beta of 0.40. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.10 and a current ratio of 1.11. The firm has a 50-day moving average of $59.94 and a 200-day moving average of $62.79. Centene Co. has a 52-week low of $55.03 and a 52-week high of $80.59.

Centene (NYSE:CNC) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.31. Centene had a net margin of 2.03% and a return on equity of 13.85%. The firm had revenue of $40.81 billion during the quarter, compared to the consensus estimate of $38.78 billion. During the same period last year, the business posted $0.45 earnings per share. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Centene Co. will post 6.86 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Barclays raised their target price on shares of Centene from $91.00 to $93.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $75.00 target price (down previously from $80.00) on shares of Centene in a research report on Tuesday, December 17th. Robert W. Baird increased their price target on Centene from $66.00 to $71.00 in a research report on Tuesday, February 4th. Truist Financial lowered their price target on Centene from $89.00 to $84.00 and set a “buy” rating on the stock in a research report on Friday, December 13th. Finally, Argus cut shares of Centene from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $79.92.

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.