Comerica Bank increased its holdings in Centene Corporation (NYSE:CNC) by 3.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 57,398 shares of the company’s stock after purchasing an additional 1,674 shares during the quarter. Comerica Bank’s holdings in Centene were worth $5,385,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the stock. CFO4Life Group LLC boosted its position in Centene by 0.4% during the second quarter. CFO4Life Group LLC now owns 6,598 shares of the company’s stock valued at $527,000 after acquiring an additional 25 shares during the last quarter. MML Investors Services LLC boosted its position in Centene by 1.0% during the second quarter. MML Investors Services LLC now owns 3,587 shares of the company’s stock valued at $287,000 after acquiring an additional 34 shares during the last quarter. Keybank National Association OH boosted its position in Centene by 1.1% during the second quarter. Keybank National Association OH now owns 3,180 shares of the company’s stock valued at $254,000 after acquiring an additional 36 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Centene by 0.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,799 shares of the company’s stock valued at $1,022,000 after acquiring an additional 38 shares during the last quarter. Finally, ING Groep NV boosted its position in Centene by 0.4% during the second quarter. ING Groep NV now owns 13,239 shares of the company’s stock valued at $1,058,000 after acquiring an additional 48 shares during the last quarter. 92.33% of the stock is currently owned by institutional investors.
Centene Corporation (NYSE:CNC) traded up $2.39 on Thursday, hitting $100.90. 1,291,528 shares of the company were exchanged, compared to its average volume of 1,680,903. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.71. Centene Corporation has a 12 month low of $54.40 and a 12 month high of $103.15. The firm has a market cap of $17,210.06, a price-to-earnings ratio of 19.00, a PEG ratio of 1.52 and a beta of 0.71.
Centene (NYSE:CNC) last posted its earnings results on Tuesday, October 24th. The company reported $1.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.11. Centene had a net margin of 1.81% and a return on equity of 14.79%. The company had revenue of $11.90 billion for the quarter, compared to analyst estimates of $11.75 billion. During the same quarter in the prior year, the business posted $1.12 EPS. The firm’s revenue was up 9.7% compared to the same quarter last year. sell-side analysts predict that Centene Corporation will post 4.98 earnings per share for the current fiscal year.
In related news, Director Robert K. Ditmore sold 4,167 shares of the company’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $90.42, for a total value of $376,780.14. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 3.00% of the company’s stock.
A number of analysts have commented on the stock. Oppenheimer reaffirmed a “buy” rating and set a $105.00 price target on shares of Centene in a research report on Friday, September 29th. Leerink Swann reiterated a “market perform” rating and set a $90.00 price objective (up previously from $78.00) on shares of Centene in a report on Wednesday, September 13th. Piper Jaffray Companies reiterated a “buy” rating and set a $105.00 price objective on shares of Centene in a report on Friday, September 1st. BidaskClub upgraded shares of Centene from a “hold” rating to a “buy” rating in a report on Thursday, August 24th. Finally, Cowen reiterated an “outperform” rating and set a $105.00 price objective (up previously from $77.00) on shares of Centene in a report on Wednesday, September 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seventeen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $99.11.
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Centene Corporation is a healthcare company. The Company provides a portfolio of services to government sponsored healthcare programs, focusing on under-insured and uninsured individuals. The Company operates through two segments: Managed Care and Specialty Services. The Company’s Managed Care segment provides health plan coverage to individuals, through government subsidized programs, including Medicaid, the State Children’s Health Insurance Program (CHIP), Long Term Care, Foster Care, dual-eligible individuals (Duals) and the Supplemental Security Income Program, also known as the Aged, Blind or Disabled Program (ABD), Medicare, and Health Insurance Marketplace.
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