Centene (NYSE:CNC – Get Free Report) issued its earnings results on Friday. The company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.23, reports. Centene had a net margin of 1.79% and a return on equity of 14.45%. The business had revenue of $42.02 billion during the quarter, compared to analysts’ expectations of $37.91 billion.
Centene Stock Performance
Shares of CNC opened at $64.22 on Monday. The company has a 50-day simple moving average of $72.88 and a 200-day simple moving average of $72.31. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $34.27 billion, a PE ratio of 12.77, a P/E/G ratio of 0.98 and a beta of 0.48. Centene has a 52-week low of $59.77 and a 52-week high of $81.42.
Hedge Funds Weigh In On Centene
A number of large investors have recently made changes to their positions in CNC. Swedbank AB purchased a new position in shares of Centene in the 1st quarter valued at about $914,080,000. Capital International Investors increased its holdings in Centene by 60.2% during the 1st quarter. Capital International Investors now owns 5,216,486 shares of the company’s stock valued at $409,390,000 after acquiring an additional 1,959,460 shares in the last quarter. AQR Capital Management LLC increased its holdings in Centene by 22.9% during the 2nd quarter. AQR Capital Management LLC now owns 4,461,517 shares of the company’s stock valued at $295,799,000 after acquiring an additional 832,318 shares in the last quarter. Legal & General Group Plc increased its holdings in Centene by 14.2% during the 2nd quarter. Legal & General Group Plc now owns 5,113,759 shares of the company’s stock valued at $339,042,000 after acquiring an additional 636,683 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ increased its holdings in Centene by 42.3% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 1,400,276 shares of the company’s stock valued at $92,838,000 after acquiring an additional 416,003 shares in the last quarter. Hedge funds and other institutional investors own 93.63% of the company’s stock.
Analysts Set New Price Targets
Check Out Our Latest Analysis on CNC
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.
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