Mirae Asset Global Investments Co. Ltd. Has $3.65 Million Stock Holdings in Centene Corporation (NYSE:CNC)

Mirae Asset Global Investments Co. Ltd. cut its position in Centene Corporation (NYSE:CNC) by 28.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 60,744 shares of the company’s stock after selling 23,811 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Centene were worth $3,647,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Diversified Trust Co lifted its holdings in Centene by 4.9% during the first quarter. Diversified Trust Co now owns 10,408 shares of the company’s stock worth $632,000 after acquiring an additional 487 shares in the last quarter. PDS Planning Inc acquired a new stake in Centene during the 1st quarter worth approximately $208,000. Perigon Wealth Management LLC bought a new position in Centene in the first quarter valued at approximately $241,000. Golden State Wealth Management LLC boosted its holdings in shares of Centene by 203.1% in the first quarter. Golden State Wealth Management LLC now owns 579 shares of the company’s stock valued at $35,000 after buying an additional 388 shares during the period. Finally, waypoint wealth counsel acquired a new stake in shares of Centene during the first quarter worth $230,000. 93.63% of the stock is owned by institutional investors.

Centene Stock Down 40.3%

Centene stock opened at $33.80 on Thursday. Centene Corporation has a fifty-two week low of $33.76 and a fifty-two week high of $80.59. The firm has a market capitalization of $16.82 billion, a PE ratio of 5.04, a P/E/G ratio of 0.68 and a beta of 0.44. The company’s 50-day moving average is $56.98 and its 200-day moving average is $59.39. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.11 and a quick ratio of 1.11.

Centene (NYSE:CNC) last released its quarterly earnings data on Friday, April 25th. The company reported $2.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.38. Centene had a return on equity of 14.56% and a net margin of 2.04%. The firm had revenue of $46.62 billion for the quarter, compared to analyst estimates of $43.16 billion. During the same quarter in the prior year, the company earned $2.26 earnings per share. The business’s revenue for the quarter was up 15.4% compared to the same quarter last year. Sell-side analysts anticipate that Centene Corporation will post 6.86 earnings per share for the current year.

Wall Street Analyst Weigh In

CNC has been the subject of a number of research reports. Morgan Stanley began coverage on Centene in a report on Monday, June 9th. They set an “overweight” rating and a $70.00 target price for the company. Wall Street Zen lowered Centene from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 28th. Guggenheim reaffirmed a “neutral” rating on shares of Centene in a research report on Tuesday, April 29th. Cantor Fitzgerald lowered their price objective on shares of Centene from $90.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Robert W. Baird reduced their target price on shares of Centene from $71.00 to $69.00 and set a “neutral” rating for the company in a report on Tuesday, April 15th. Ten analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $68.87.

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.