Meeder Asset Management Inc. Has $1.65 Million Stake in Centene Co. (NYSE:CNC)

Meeder Asset Management Inc. lessened its stake in Centene Co. (NYSE:CNC) by 63.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 27,274 shares of the company’s stock after selling 47,671 shares during the period. Meeder Asset Management Inc.’s holdings in Centene were worth $1,652,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Private Trust Co. NA lifted its stake in shares of Centene by 75.3% during the third quarter. Private Trust Co. NA now owns 773 shares of the company’s stock valued at $58,000 after acquiring an additional 332 shares during the period. Public Sector Pension Investment Board raised its holdings in Centene by 7.9% during the 3rd quarter. Public Sector Pension Investment Board now owns 21,919 shares of the company’s stock worth $1,650,000 after purchasing an additional 1,600 shares during the last quarter. Captrust Financial Advisors boosted its stake in shares of Centene by 24.6% in the 3rd quarter. Captrust Financial Advisors now owns 28,995 shares of the company’s stock valued at $2,183,000 after purchasing an additional 5,716 shares during the last quarter. Wasatch Advisors LP acquired a new stake in shares of Centene during the 3rd quarter worth approximately $2,861,000. Finally, True Wealth Design LLC bought a new stake in shares of Centene during the third quarter worth approximately $66,000. Institutional investors and hedge funds own 93.63% of the company’s stock.

Centene Trading Down 0.5 %

CNC opened at $59.96 on Monday. The stock has a market capitalization of $29.74 billion, a P/E ratio of 9.61, a P/E/G ratio of 0.80 and a beta of 0.40. 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 Co. has a 12 month low of $55.03 and a 12 month high of $80.59. The firm’s fifty day simple moving average is $59.94 and its 200 day simple moving average is $62.66.

Centene (NYSE:CNC) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.80 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 for the quarter, compared to analyst estimates of $38.78 billion. During the same period in the previous year, the company posted $0.45 earnings per share. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. As a group, research analysts anticipate that Centene Co. will post 6.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on CNC shares. Barclays lifted their target price on shares of Centene from $91.00 to $93.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. UBS Group upgraded Centene from a “neutral” rating to a “buy” rating and upped their price objective for the company from $79.00 to $80.00 in a report on Friday, December 13th. Stephens reduced their target price on Centene from $75.00 to $73.00 and set an “equal weight” rating on the stock in a report on Friday, December 13th. Truist Financial lowered their price target on Centene from $89.00 to $84.00 and set a “buy” rating for the company in a research note on Friday, December 13th. Finally, Wells Fargo & Company reduced their price objective on shares of Centene from $76.00 to $72.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.92.

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.