Fmr LLC Has $1.30 Billion Stock Holdings in Centene Co. (NYSE:CNC)

FMR LLC lowered its holdings in Centene Co. (NYSE:CNC - Free Report) by 12.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,429,162 shares of the company's stock after selling 3,141,348 shares during the period. FMR LLC owned about 4.24% of Centene worth $1,298,179,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Capital Advisors Ltd. LLC boosted its stake in Centene by 75.3% during the 4th quarter. Capital Advisors Ltd. LLC now owns 412 shares of the company's stock valued at $25,000 after purchasing an additional 177 shares during the period. Hurley Capital LLC bought a new position in Centene in the 4th quarter worth approximately $26,000. Rialto Wealth Management LLC acquired a new stake in Centene in the 4th quarter valued at approximately $30,000. OFI Invest Asset Management bought a new stake in Centene during the 4th quarter valued at $33,000. Finally, SRS Capital Advisors Inc. grew its stake in shares of 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 purchasing an additional 267 shares in the last quarter. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Centene Trading Up 2.3 %

Shares of CNC stock traded up $1.43 during trading hours on Friday, reaching $63.82. 3,887,943 shares of the stock traded hands, compared to its average volume of 4,694,413. The company has a quick ratio of 1.10, a current ratio of 1.11 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $31.66 billion, a PE ratio of 10.23, a PEG 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 has a fifty day moving average price of $59.49 and a 200 day moving average price of $61.73.

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Centene (NYSE:CNC - Get Free Report) last released its earnings results on Tuesday, February 4th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.49 by $0.31. Centene had a return on equity of 13.85% and a net margin of 2.03%. The company had revenue of $40.81 billion during the quarter, compared to analyst estimates of $38.78 billion. During the same quarter in the prior year, the company earned $0.45 earnings per share. The company's revenue for the quarter was up 3.4% on a year-over-year basis. On average, equities research analysts forecast that Centene Co. will post 6.86 EPS for the current year.

Analyst Ratings Changes

CNC has been the subject of several research analyst reports. Truist Financial reduced their price objective on shares of Centene from $89.00 to $84.00 and set a "buy" rating for the company in a report on Friday, December 13th. UBS Group upgraded shares of Centene from a "neutral" rating to a "buy" rating and increased their price objective for the company from $79.00 to $80.00 in a report on Friday, December 13th. JPMorgan Chase & Co. restated an "overweight" rating and issued a $75.00 target price (down from $80.00) on shares of Centene in a research report on Tuesday, December 17th. Guggenheim started coverage on Centene in a research report on Wednesday. They set a "neutral" rating on the stock. Finally, Barclays raised their target price on Centene from $91.00 to $93.00 and gave the company an "overweight" rating in a research note on Friday, December 13th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $80.85.

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.