GAM Holding AG Buys 288 Shares of Centene Co. (NYSE:CNC)

GAM Holding AG increased its stake in shares of Centene Co. (NYSE:CNC) by 0.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 88,973 shares of the company’s stock after acquiring an additional 288 shares during the quarter. GAM Holding AG’s holdings in Centene were worth $6,698,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CNC. B. Riley Wealth Advisors Inc. lifted its stake in shares of Centene by 9.6% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 4,854 shares of the company’s stock valued at $360,000 after buying an additional 427 shares in the last quarter. Park Avenue Securities LLC raised its holdings in shares of Centene by 39.8% in the first quarter. Park Avenue Securities LLC now owns 10,131 shares of the company’s stock valued at $795,000 after purchasing an additional 2,882 shares during the last quarter. Ballentine Partners LLC raised its holdings in shares of Centene by 7.6% in the first quarter. Ballentine Partners LLC now owns 6,848 shares of the company’s stock valued at $537,000 after purchasing an additional 482 shares during the last quarter. Global Assets Advisory LLC purchased a new stake in shares of Centene in the first quarter valued at about $1,385,000. Finally, Gateway Investment Advisers LLC raised its holdings in shares of Centene by 22.9% in the first quarter. Gateway Investment Advisers LLC now owns 18,406 shares of the company’s stock valued at $1,445,000 after purchasing an additional 3,434 shares during the last quarter. 93.63% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the stock. TD Cowen increased their target price on shares of Centene from $80.00 to $89.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Jefferies Financial Group downgraded shares of Centene from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $83.00 to $69.00 in a report on Wednesday, July 24th. Wells Fargo & Company decreased their price objective on shares of Centene from $93.00 to $91.00 and set an “overweight” rating for the company in a report on Friday, September 13th. Oppenheimer decreased their price objective on shares of Centene from $110.00 to $95.00 and set an “outperform” rating for the company in a report on Monday, July 29th. Finally, Barclays decreased their price objective on shares of Centene from $98.00 to $97.00 and set an “overweight” rating for the company in a report on Thursday, September 5th. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $85.58.

Centene Trading Up 0.1 %

Shares of Centene stock opened at $61.07 on Wednesday. Centene Co. has a 1 year low of $60.65 and a 1 year high of $81.42. The firm has a market cap of $32.59 billion, a PE ratio of 12.14, a PEG ratio of 0.98 and a beta of 0.48. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.17 and a quick ratio of 1.17. The company has a 50 day simple moving average of $73.84 and a two-hundred day simple moving average of $72.53.

Centene (NYSE:CNC) last announced 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 for the quarter, compared to the consensus estimate of $36.83 billion. During the same quarter in the previous year, the firm earned $2.10 earnings per share. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. Analysts expect that Centene Co. will post 6.8 earnings per share for the current fiscal 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.