GAM Holding AG Raises Stock Holdings in Centene Co. (NYSE:CNC)

GAM Holding AG increased its position in Centene Co. (NYSE:CNC) by 0.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 88,973 shares of the company’s stock after buying an additional 288 shares during the quarter. GAM Holding AG’s holdings in Centene were worth $6,698,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in CNC. Park Place Capital Corp increased its position in Centene by 1,190.0% during the 3rd quarter. Park Place Capital Corp now owns 387 shares of the company’s stock valued at $29,000 after purchasing an additional 357 shares during the period. WR Wealth Planners LLC boosted its stake in Centene by 41.4% in the 2nd quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock worth $31,000 after purchasing an additional 137 shares in the last quarter. Chris Bulman Inc bought a new position in Centene in the 2nd quarter worth about $33,000. Riverview Trust Co boosted its stake in Centene by 154.6% in 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. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Centene during the 2nd quarter valued at about $36,000. 93.63% of the stock is owned by hedge funds and other institutional investors.

Centene Stock Performance

Shares of Centene stock opened at $61.07 on Wednesday. The firm has a market cap of $32.59 billion, a P/E ratio of 12.14, a P/E/G ratio of 0.98 and a beta of 0.48. 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 Co. has a 12 month low of $60.65 and a 12 month high of $81.42. The stock’s fifty day moving average price is $73.84 and its 200-day moving average price is $72.53.

Centene (NYSE:CNC) last posted its 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). Centene had a net margin of 1.79% and a return on equity of 14.45%. The company had revenue of $39.84 billion during the quarter, compared to analysts’ expectations of $36.83 billion. During the same quarter last year, the firm earned $2.10 EPS. Centene’s revenue for the quarter was up 5.9% on a year-over-year basis. On average, equities research analysts expect that Centene Co. will post 6.8 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CNC has been the subject of several research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $90.00 price target on shares of Centene in a research report on Tuesday, October 1st. TD Cowen upped their price target on Centene from $80.00 to $89.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Truist Financial lowered their target price on Centene from $92.00 to $89.00 and set a “buy” rating for the company in a research report on Monday, July 15th. JPMorgan Chase & Co. lowered their target price on Centene from $85.00 to $80.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Finally, Barclays lowered their price target on Centene from $98.00 to $97.00 and set an “overweight” rating for the company in a research report on Thursday, September 5th. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Centene has a consensus rating of “Moderate Buy” and a consensus price target of $85.58.

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.