Landscape Capital Management L.L.C. Takes Position in Centene Co. (NYSE:CNC)

Landscape Capital Management L.L.C. acquired a new position in shares of Centene Co. (NYSE:CNC - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 16,216 shares of the company's stock, valued at approximately $982,000.

Several other large investors also recently bought and sold shares of the stock. Norges Bank acquired a new position in Centene during the fourth quarter worth approximately $1,536,167,000. State Street Corp raised its stake in shares of Centene by 0.5% during the third quarter. State Street Corp now owns 23,468,159 shares of the company's stock worth $1,766,683,000 after purchasing an additional 111,654 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Centene by 3.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,803,437 shares of the company's stock worth $230,412,000 after acquiring an additional 130,895 shares during the period. Amundi boosted its holdings in Centene by 77.2% in the 4th quarter. Amundi now owns 2,786,770 shares of the company's stock valued at $176,040,000 after purchasing an additional 1,214,425 shares in the last quarter. Finally, Prudential Financial Inc. increased its position in Centene by 80.6% during the 4th quarter. Prudential Financial Inc. now owns 2,080,826 shares of the company's stock worth $126,056,000 after purchasing an additional 928,465 shares during the period. Institutional investors and hedge funds own 93.63% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Jefferies Financial Group upgraded shares of Centene from an "underperform" rating to a "hold" rating and increased their price target for the company from $53.00 to $64.00 in a report on Tuesday. Argus downgraded Centene from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. reiterated an "overweight" rating and issued a $75.00 price target (down from $80.00) on shares of Centene in a research report on Tuesday, December 17th. Truist Financial lowered their price target 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. Finally, UBS Group raised Centene from a "neutral" rating to a "buy" rating and raised their price objective for the company from $79.00 to $80.00 in a research report on Friday, December 13th. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $80.85.

Remove Ads

Centene Price Performance

CNC traded up $1.43 on Friday, reaching $63.82. The company had a trading volume of 3,887,943 shares, compared to its average volume of 4,694,413. Centene Co. has a one year low of $55.03 and a one year high of $80.59. The company has a market capitalization of $31.66 billion, a P/E ratio of 10.23, a PEG ratio of 0.80 and a beta of 0.53. The company has a fifty day moving average of $59.49 and a 200-day moving average of $61.73. The company has a current ratio of 1.11, a quick ratio of 1.10 and a debt-to-equity ratio of 0.70.

Centene (NYSE:CNC - Get Free Report) last announced its earnings results on Tuesday, February 4th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.49 by $0.31. Centene had a return on equity of 13.85% and a net margin of 2.03%. The firm had revenue of $40.81 billion for the quarter, compared to analysts' expectations of $38.78 billion. During the same quarter in the previous year, the company earned $0.45 earnings per share. The firm's quarterly revenue was up 3.4% compared to the same quarter last year. As a group, equities research analysts anticipate 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.