Lazard Asset Management LLC Has $753,000 Position in Centene Co. (NYSE:CNC)

Lazard Asset Management LLC lifted its stake in Centene Co. (NYSE:CNCGet Rating) by 67.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,919 shares of the company’s stock after acquiring an additional 3,581 shares during the quarter. Lazard Asset Management LLC’s holdings in Centene were worth $753,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of CNC. Capital World Investors raised its stake in shares of Centene by 7.9% during the 1st quarter. Capital World Investors now owns 50,535,746 shares of the company’s stock worth $4,254,604,000 after purchasing an additional 3,683,887 shares in the last quarter. JPMorgan Chase & Co. raised its position in Centene by 14.3% during the first quarter. JPMorgan Chase & Co. now owns 26,720,429 shares of the company’s stock valued at $2,249,594,000 after acquiring an additional 3,350,045 shares in the last quarter. Jennison Associates LLC grew its position in Centene by 124.8% in the first quarter. Jennison Associates LLC now owns 2,427,648 shares of the company’s stock worth $204,384,000 after acquiring an additional 1,347,764 shares in the last quarter. Suvretta Capital Management LLC acquired a new position in shares of Centene during the 1st quarter worth $100,793,000. Finally, Vanguard Group Inc. raised its holdings in shares of Centene by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 63,607,238 shares of the company’s stock valued at $5,355,094,000 after purchasing an additional 1,121,697 shares in the last quarter. Institutional investors and hedge funds own 94.74% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Cowen lowered their target price on shares of Centene from $108.00 to $101.00 in a research report on Thursday, September 22nd. Wells Fargo & Company lowered Centene from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $103.00 to $99.00 in a report on Friday, August 26th. StockNews.com initiated coverage on shares of Centene in a research report on Wednesday, October 12th. They issued a “strong-buy” rating on the stock. Truist Financial upped their price objective on shares of Centene from $102.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, July 27th. Finally, Argus initiated coverage on shares of Centene in a report on Friday, September 30th. They issued a “buy” rating and a $90.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $98.68.

Centene Stock Performance

Shares of NYSE CNC opened at $82.68 on Friday. The firm has a market capitalization of $46.82 billion, a price-to-earnings ratio of 24.10, a PEG ratio of 1.04 and a beta of 0.60. Centene Co. has a one year low of $69.51 and a one year high of $98.53. The business has a fifty day simple moving average of $80.71 and a 200 day simple moving average of $84.89. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.71.

Centene (NYSE:CNCGet Rating) last announced its quarterly earnings data on Tuesday, October 25th. The company reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.08. Centene had a net margin of 1.42% and a return on equity of 13.08%. The company had revenue of $35.84 billion during the quarter, compared to analysts’ expectations of $35.45 billion. During the same quarter in the prior year, the company posted $1.26 EPS. The business’s revenue was up 10.6% on a year-over-year basis. Sell-side analysts expect that Centene Co. will post 5.71 EPS for the current year.

Centene Company Profile

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Centene Corporation operates as a multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. Its Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term services and support, foster care, and medicare-medicaid plans, which cover dually eligible individuals, as well as aged, blind, or disabled programs.

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Institutional Ownership by Quarter for Centene (NYSE:CNC)

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