Centene Co. (NYSE:CNC) Shares Sold by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S cut its stake in shares of Centene Co. (NYSE:CNC - Free Report) by 33.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,556 shares of the company's stock after selling 22,513 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Centene were worth $2,699,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. 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 worth $25,000 after purchasing an additional 177 shares during the period. Hurley Capital LLC bought a new position in Centene during the 4th quarter worth approximately $26,000. Rialto Wealth Management LLC bought a new stake in Centene during the 4th quarter valued at $30,000. OFI Invest Asset Management bought a new position in Centene during the 4th quarter valued at approximately $33,000. Finally, SRS Capital Advisors Inc. raised its stake in Centene by 73.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 631 shares of the company's stock worth $38,000 after buying an additional 267 shares in the last quarter. 93.63% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. StockNews.com upgraded Centene from a "buy" rating to a "strong-buy" rating in a research report on Friday, April 11th. Argus downgraded Centene from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Wells Fargo & Company cut their price objective on shares of Centene from $76.00 to $72.00 and set an "overweight" rating on the stock in a research report on Friday, February 14th. Robert W. Baird lowered their price target on Centene from $71.00 to $69.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Finally, Jefferies Financial Group raised Centene from an "underperform" rating to a "hold" rating and boosted their target price for the stock from $53.00 to $64.00 in a research report on Tuesday, April 8th. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $80.69.

Centene Stock Performance

Centene stock traded down $3.84 during midday trading on Friday, hitting $57.74. 8,544,048 shares of the company were exchanged, compared to its average volume of 4,661,850. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.10 and a current ratio of 1.11. Centene Co. has a fifty-two week low of $55.03 and a fifty-two week high of $80.59. The business has a fifty day simple moving average of $60.06 and a two-hundred day simple moving average of $61.06. The firm has a market capitalization of $28.64 billion, a PE ratio of 9.25, a price-to-earnings-growth ratio of 0.80 and a beta of 0.53.

Centene (NYSE:CNC - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The company reported $2.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.70. The firm had revenue of $46.62 billion during the quarter, compared to analysts' expectations of $43.16 billion. Centene had a net margin of 2.03% and a return on equity of 13.85%. During the same period last year, the business earned $2.26 earnings per share. On average, sell-side analysts forecast that Centene Co. will post 6.86 earnings per share for the current year.

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.