Susquehanna Portfolio Strategies LLC sells 40,238 shares of Centene Co. (NYSE:CNC)

Susquehanna Portfolio Strategies LLC reduced its stake in shares of Centene Co. (NYSE:CNC – Free Report) by 32.0% during the second quarter, HoldingsChannel reports. The firm owned 85,408 shares of the company’s stock after selling 40,238 shares during the quarter. Susquehanna Portfolio Strategies LLC’s holdings in Centene were worth $5,663,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their positions in the stock. Rise Advisors LLC purchased a new position in Centene in the first quarter valued at $25,000. WR Wealth Planners LLC grew its holdings in shares of Centene by 41.4% during the 2nd quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock worth $31,000 after acquiring an additional 137 shares in the last quarter. Chris Bulman Inc acquired a new stake in shares of Centene in the second quarter valued at $33,000. Riverview Trust Co grew its holdings in shares of Centene by 154.6% during the second quarter. Riverview Trust Co now owns 527 shares of the company’s stock worth $35,000 after purchasing an additional 320 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Centene during the second quarter valued at $36,000. Institutional investors own 93.63% of the company’s shares.

The Wall Street analyst weighs in

Several analysts recently weighed in on CNC shares. Wells Fargo & Company dropped their price objective on Centene from $93.00 to $91.00 and set an “overweight” rating for the company in a research report on Friday, September 13th. Barclays decreased their price target on Centene from $98.00 to $97.00 and set an “overweight” rating for the company in a research report on Thursday, September 5th. TD Cowen upped their target price on Centene from $80.00 to $89.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. StockNews.com upgraded Centene from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Finally, Stephens reiterated an “equal weight” rating and issued a $78.00 target price on shares of Centene in a research report on Monday, August 5th. Seven investment 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $85.58.

Check out our latest review of Centene

Centene trading up 1.2%

NYSE CNC opened at $74.57 on Friday. The company has a 50-day simple moving average of $75.06 and a 200-day simple moving average of $73.41. Centene Co. it has a one year low of $63.45 and a one year high of $81.42. The stock has a market cap of $39.79 billion, a P/E ratio of 14.83, a P/E/G ratio of 1.02 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.

Centene (NYSE:CNC – Get Your Free Report ) last issued its quarterly earnings data on Friday, July 26th. The company reported $2.42 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.02). The company had revenue of $39.84 billion for the quarter, compared to analyst estimates of $36.83 billion. Centene had a return on equity of 14.45% and a net margin of 1.79%. The company’s quarterly revenue was up 5.9% year over year. In the same quarter last year, the company posted EPS of $2.10. Research analysts expect that Centene Co. to post 6.8 earnings per share for the current year.

Centene Company Profile

(Free Report)

Centene Corporation operates as a healthcare enterprise that provides programs and services to underinsured 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 provides health plan coverage, including Medicaid expansion, elderly, blind, disabled, children’s health insurance program, foster care, Medicare-Medicaid plans, services and long-term care.

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