Centene Co. (NYSE:CNC) Shares Bought by Baird Financial Group Inc.

Baird Financial Group Inc. grew its stake in shares of Centene Co. (NYSE:CNCGet Rating) by 5.2% during the second quarter, HoldingsChannel reports. The firm owned 10,502 shares of the company’s stock after buying an additional 522 shares during the period. Baird Financial Group Inc.’s holdings in Centene were worth $889,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Centene by 1.8% during the first quarter. Vanguard Group Inc. now owns 63,607,238 shares of the company’s stock worth $5,355,094,000 after purchasing an additional 1,121,697 shares in the last quarter. Capital World Investors lifted its stake in shares of Centene by 7.9% during the first 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. BlackRock Inc. lifted its stake in shares of Centene by 1.7% in the first quarter. BlackRock Inc. now owns 41,847,249 shares of the company’s stock worth $3,523,119,000 after acquiring an additional 689,076 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Centene by 14.3% in the first quarter. JPMorgan Chase & Co. now owns 26,720,429 shares of the company’s stock worth $2,249,594,000 after acquiring an additional 3,350,045 shares in the last quarter. Finally, Politan Capital Management LP lifted its stake in shares of Centene by 1.8% in the first quarter. Politan Capital Management LP now owns 12,914,408 shares of the company’s stock worth $1,087,264,000 after acquiring an additional 233,000 shares in the last quarter. Institutional investors and hedge funds own 94.74% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on CNC. Barclays cut their price target on Centene from $107.00 to $100.00 and set an “overweight” rating on the stock in a research note on Monday, October 3rd. Deutsche Bank Aktiengesellschaft cut their price target on Centene from $99.00 to $94.00 in a research note on Wednesday, October 26th. StockNews.com started coverage on Centene in a report on Wednesday, October 12th. They issued a “strong-buy” rating for the company. Cowen lowered their price objective on Centene from $108.00 to $101.00 in a report on Thursday, September 22nd. Finally, Oppenheimer boosted their price objective on Centene to $110.00 and gave the company an “outperform” rating in a report on Wednesday, July 27th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $98.68.

Centene Stock Up 2.2 %

NYSE:CNC opened at $82.68 on Friday. Centene Co. has a 52 week low of $69.51 and a 52 week high of $98.53. The firm has a market capitalization of $46.82 billion, a PE ratio of 24.10, a price-to-earnings-growth ratio of 1.06 and a beta of 0.60. The stock has a 50 day moving average of $80.71 and a 200-day moving average of $84.92. 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 issued its quarterly earnings data on Tuesday, October 25th. The company reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.08. Centene had a return on equity of 13.08% and a net margin of 1.42%. The business had revenue of $35.84 billion during the quarter, compared to analyst estimates of $35.45 billion. During the same period in the prior year, the company posted $1.26 EPS. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. Analysts predict that Centene Co. will post 5.71 EPS for the current year.

About Centene

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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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