Centene Co. (NYSE:CNC) Shares Acquired by Rhenman & Partners Asset Management AB

Rhenman & Partners Asset Management AB grew its position in Centene Co. (NYSE:CNC - Free Report) by 67.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 195,482 shares of the company's stock after purchasing an additional 78,500 shares during the quarter. Rhenman & Partners Asset Management AB's holdings in Centene were worth $11,842,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Capital Advisors Ltd. LLC lifted its position in Centene by 75.3% during the 4th quarter. Capital Advisors Ltd. LLC now owns 412 shares of the company's stock worth $25,000 after acquiring an additional 177 shares during the period. Rialto Wealth Management LLC acquired a new stake in shares of Centene during the fourth quarter worth about $30,000. OFI Invest Asset Management acquired a new position in Centene in the 4th quarter worth approximately $33,000. SRS Capital Advisors Inc. raised its position in Centene by 73.4% during the 4th quarter. SRS Capital Advisors Inc. now owns 631 shares of the company's stock worth $38,000 after buying an additional 267 shares during the last quarter. Finally, Riverview Trust Co boosted its holdings in shares of Centene by 172.7% in the 4th quarter. Riverview Trust Co now owns 758 shares of the company's stock valued at $46,000 after acquiring an additional 480 shares during the last quarter. Hedge funds and other institutional investors own 93.63% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CNC. Cantor Fitzgerald reissued an "overweight" rating and set a $90.00 target price on shares of Centene in a report on Wednesday, December 11th. StockNews.com cut Centene from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 6th. JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a $75.00 target price (down from $80.00) on shares of Centene in a report on Tuesday, December 17th. Robert W. Baird upped their price objective on Centene from $66.00 to $71.00 in a research report on Tuesday, February 4th. Finally, Truist Financial cut their target price 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. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Centene currently has an average rating of "Moderate Buy" and a consensus price target of $80.85.

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Centene Price Performance

Shares of Centene stock traded down $0.67 during mid-day trading on Thursday, reaching $61.96. 2,385,575 shares of the stock traded hands, compared to its average volume of 4,634,308. 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 business has a 50-day moving average of $59.49 and a 200 day moving average of $61.89. The stock has a market capitalization of $30.74 billion, a PE ratio of 9.92, a PEG ratio of 0.80 and a beta of 0.53. Centene Co. has a fifty-two week low of $55.03 and a fifty-two week high of $80.59.

Centene (NYSE:CNC - Get Free Report) last announced its earnings results 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. The company had revenue of $40.81 billion for the quarter, compared to analysts' expectations of $38.78 billion. Centene had a net margin of 2.03% and a return on equity of 13.85%. The firm's quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.45 EPS. On average, analysts predict that Centene Co. will post 6.86 EPS for the current year.

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.