Centene Co. (NYSE:CNC) Shares Purchased by Oxbow Advisors LLC

Oxbow Advisors LLC grew its holdings in Centene Co. (NYSE:CNC) by 3.3% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 61,942 shares of the company’s stock after buying an additional 1,959 shares during the period. Oxbow Advisors LLC’s holdings in Centene were worth $4,107,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in CNC. Rise Advisors LLC acquired a new position in shares of Centene in the first quarter valued at approximately $25,000. WR Wealth Planners LLC grew its holdings in Centene by 41.4% during the 2nd quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock valued at $31,000 after buying an additional 137 shares during the last quarter. Riverview Trust Co increased its position in Centene by 154.6% during the 2nd quarter. Riverview Trust Co now owns 527 shares of the company’s stock worth $35,000 after purchasing an additional 320 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Centene during the 2nd quarter worth about $36,000. Finally, Neo Ivy Capital Management purchased a new stake in shares of Centene during the fourth quarter worth about $40,000. Institutional investors and hedge funds own 93.63% of the company’s stock.

Centene Stock Down 2.5 %

NYSE:CNC traded down $1.83 during trading hours on Friday, hitting $70.83. The stock had a trading volume of 6,046,720 shares, compared to its average volume of 3,480,344. The company has a market cap of $37.80 billion, a PE ratio of 14.08, a price-to-earnings-growth ratio of 1.06 and a beta of 0.48. The business has a 50 day simple moving average of $72.89 and a two-hundred day simple moving average of $73.84. Centene Co. has a 1-year low of $63.45 and a 1-year high of $81.42. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.64.

Centene (NYSE:CNC) last released its quarterly earnings results on Friday, July 26th. The company reported $2.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.02). The firm had revenue of $39.84 billion for the quarter, compared to analysts’ expectations of $36.83 billion. Centene had a return on equity of 14.45% and a net margin of 1.79%. The business’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period last year, the firm earned $2.10 EPS. Analysts predict that Centene Co. will post 6.84 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CNC. Stephens reissued an “equal weight” rating and set a $78.00 price target on shares of Centene in a research note on Monday, August 5th. StockNews.com raised shares of Centene from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Baird R W raised shares of Centene to a “hold” rating in a research report on Thursday, May 30th. Jefferies Financial Group downgraded Centene from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $83.00 to $69.00 in a report on Wednesday, July 24th. Finally, TD Cowen lifted their target price on Centene from $80.00 to $89.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Centene presently has a consensus rating of “Moderate Buy” and an average price target of $85.75.

Centene 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.