Fred Alger Management Inc. purchased a new stake in Centene Corp (NYSE:CNC) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,062 shares of the company’s stock, valued at approximately $511,000.
Other hedge funds also recently made changes to their positions in the company. Focused Wealth Management Inc raised its position in shares of Centene by 900.0% during the fourth quarter. Focused Wealth Management Inc now owns 1,000 shares of the company’s stock worth $101,000 after acquiring an additional 900 shares during the last quarter. Financial Gravity Companies Inc. bought a new stake in shares of Centene during the fourth quarter worth $112,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Centene in the fourth quarter valued at about $131,000. Tower Research Capital LLC TRC bought a new stake in Centene in the fourth quarter valued at about $145,000. Finally, Advisors Preferred LLC bought a new stake in Centene in the fourth quarter valued at about $159,000. 90.54% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE CNC opened at $107.03 on Friday. The company has a market cap of $18,650.76, a PE ratio of 21.28, a PEG ratio of 1.01 and a beta of 0.75. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.93 and a current ratio of 0.93. Centene Corp has a 1-year low of $70.04 and a 1-year high of $112.42.
Centene (NYSE:CNC) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $0.97 EPS for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.03. Centene had a return on equity of 13.68% and a net margin of 1.71%. The firm had revenue of $12.81 billion for the quarter, compared to analyst estimates of $12.25 billion. During the same quarter last year, the company earned $1.19 EPS. The company’s revenue was up 7.5% on a year-over-year basis. equities research analysts predict that Centene Corp will post 7.2 earnings per share for the current year.
In other Centene news, EVP Christopher D. Bowers sold 4,800 shares of the firm’s stock in a transaction on Monday, March 12th. The stock was sold at an average price of $102.27, for a total value of $490,896.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert K. Ditmore sold 8,750 shares of the firm’s stock in a transaction on Monday, January 8th. The shares were sold at an average price of $104.30, for a total value of $912,625.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,300 shares of company stock worth $2,314,659. Corporate insiders own 3.00% of the company’s stock.
A number of equities research analysts recently commented on CNC shares. Oppenheimer reiterated a “buy” rating and issued a $111.00 price objective on shares of Centene in a report on Friday, December 15th. Cantor Fitzgerald reissued a “buy” rating and issued a $115.00 target price on shares of Centene in a research note on Monday, December 18th. Piper Jaffray reissued a “buy” rating and issued a $134.00 target price on shares of Centene in a research note on Monday, December 18th. Jefferies Group boosted their target price on Centene from $112.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, December 18th. Finally, Zacks Investment Research cut Centene from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 22nd. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $110.28.
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Centene Company Profile
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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