In a recent filing with the Securities and Exchange Commission (SEC), Royal London Asset Management Ltd. announced that they have increased their holdings in Centene Co. (NYSE:CNC) by 3.8% in the fourth quarter of 2022. This institutional investor now owns 199,791 shares of the healthcare enterprise’s stock after purchasing an additional 7,252 shares during this period, bringing their total holdings to $16,386,000.
Centene Corp., established in 1984 and headquartered in St. Louis, MO, provides programs and services to government-sponsored healthcare programs through four primary segments: Medicaid, Medicare, Commercial, and Other. The company’s offerings not only provide essential medical services but also bring peace of mind to millions of Americans who would otherwise lack access to adequate healthcare coverage.
Despite the economic challenges posed by the COVID-19 pandemic over the past year’and-a-half – which has caused some companies’ stock prices to take significant hits – Centene Co.’s one-year stock performance showed strong variability. While it had a low point of $61.71 per share during this time, it also hit a high point of $98.53 per share. Currently trading at $67.37 per share since May 13th relative to its one-year high value closeoutopenings on either leg of a statistical range meant to reflect volatility only two year ago are measuring notable variances thus symbolizing continued market uncertainty.
The firm is valued at an impressive market capitalization of $36.97 billion while maintaining a relatively modest price-to-earnings ratio (PE) of 25.52 with attractive metrics for analysts such as its PEG ratio being under one most recently at ad value of .92one according to public financial data sources.Consequently,, indications suggest that current investors believe that Centene is well-positioned for long-term growth despite short-term disruptions that may occur in various industries.
Further examining Centene Co.’s financial position, the company has a current ratio of 1.07 and quick ratio of 1.07 indicating it is not highly levered while the debt-to-equity ratio also appears to remain modest at .72 based in their filings with SEC.Based upon these metrics, Centene Co.’s financial position is believed to be stable enough for investing organizations like Royal London Asset Management Ltd. to find attractive potential long-term investment gains.
Overall, Centene Co.’s continued growth and stability are likely factors that have garnered increasing attention from investors like Royal Asset Management Ltd., as can be witnessed by their increased holdings according to the fourth quarter SEC filing report. Despite any uncertainty regarding future events or shifts in surrounding market conditions, Centene’s market position excites many forward-looking investors who anticipate an even more successful future for this healthcare provider and hope gain well while staying firm and committed regardless of any changing market indicators.
Centene Corporation Sees Increased Activity from Institutional Investors and Insider Trading Reports
Centene Corporation, a healthcare company that provides programs and services to government-sponsored healthcare programs, has seen significant activity from institutional investors and hedge funds in recent months. Whittier Trust Co. of Nevada Inc. grew its position in Centene by 5,700.0% in the fourth quarter of last year and now owns 348 shares of the company’s stock valued at $29,000. Similarly, James Investment Research Inc., Guardian Wealth Advisors LLC, Covestor Ltd, and U.S. Capital Wealth Advisors LLC also purchased new positions or increased their stake in the company.
However, Director Lori Jean Robinson recently sold 1,400 shares of Centene stock on April 27th at an average price of $66.59 for a total transaction of $93,226. In contrast to Robinson’s sale, CEO Sarah London bought 30,000 shares at an average cost of $62.60 per share on March 17th for a total transaction of $1,878,000.
Centene (NYSE:CNC) reported its quarterly earnings data on April 25th with EPS at $2.11 per share — missing analysts’ consensus estimates of $2.23 by ($0.12). The company had revenue of $38.89 billion for the quarter with a net margin of 1.01%. The stock is predicted to post earnings per share of 6.45 for the current fiscal year.
Several equity analysts have commented on CNC stating Stephens reduced their price objective from $95 to $87 while Morgan Stanley reduced their target price from $103 to $94 and set an “overweight” rating on the stock.
Despite varying opinions from equity analysts regarding Centene’s performance and potential growth trajectory coupled with recent reports about insider trading activities involving some key personnel within the firm itself may provide additional insights into future prospects for investors weighing up their options within this industry space.
