GSA Capital Partners LLP decreased its holdings in Centene Corp (NYSE:CNC) by 63.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,997 shares of the company’s stock after selling 5,227 shares during the quarter. GSA Capital Partners LLP’s holdings in Centene were worth $320,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Focused Wealth Management Inc lifted its position in Centene by 900.0% in the 4th quarter. Focused Wealth Management Inc now owns 1,000 shares of the company’s stock valued at $101,000 after acquiring an additional 900 shares in the last quarter. Financial Gravity Companies Inc. purchased a new stake in Centene in the 4th quarter valued at about $112,000. We Are One Seven LLC purchased a new stake in Centene in the 4th quarter valued at about $114,000. Tower Research Capital LLC TRC purchased a new stake in Centene in the 4th quarter valued at about $145,000. Finally, Stratos Wealth Partners LTD. increased its stake in Centene by 61.0% in the 1st quarter. Stratos Wealth Partners LTD. now owns 1,810 shares of the company’s stock valued at $193,000 after buying an additional 686 shares during the last quarter. 76.18% of the stock is currently owned by institutional investors and hedge funds.
CNC has been the subject of several analyst reports. Oppenheimer increased their price objective on shares of Centene from $130.00 to $138.00 in a research note on Monday, June 18th. Cantor Fitzgerald reiterated a “buy” rating and issued a $125.00 price objective on shares of Centene in a research note on Monday, April 2nd. BMO Capital Markets reiterated a “buy” rating on shares of Centene in a research note on Monday, March 26th. Zacks Investment Research lowered shares of Centene from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 10th. Finally, Leerink Swann increased their price objective on shares of Centene from $120.00 to $130.00 and gave the company a “market perform” rating in a research note on Monday, June 18th. Three equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $124.75.
In other news, CEO Michael F. Neidorff sold 250,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 26th. The shares were sold at an average price of $108.20, for a total transaction of $27,050,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Keith H. Williamson sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, April 27th. The stock was sold at an average price of $110.00, for a total transaction of $110,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 262,750 shares of company stock valued at $28,461,313. 3.00% of the stock is currently owned by company insiders.
Shares of CNC stock opened at $122.11 on Thursday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.68. Centene Corp has a 12-month low of $78.56 and a 12-month high of $126.30. The company has a market cap of $25.31 billion, a PE ratio of 24.28, a P/E/G ratio of 1.18 and a beta of 0.76.
Centene (NYSE:CNC) last issued its quarterly earnings results on Tuesday, April 24th. The company reported $2.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.92 by $0.25. Centene had a net margin of 2.06% and a return on equity of 15.69%. The company had revenue of $13.19 billion during the quarter, compared to analyst estimates of $13.33 billion. During the same quarter last year, the business posted $1.12 EPS. Centene’s quarterly revenue was up 12.5% compared to the same quarter last year. equities analysts forecast that Centene Corp will post 7.05 earnings per share for the current fiscal year.
Centene Company Profile
Centene Corporation operates as a diversified and multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. It operates through two segments, Managed Care and Specialty Services. The Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term care, foster care, and dual eligible individual, as well as aged, blind, or disabled programs.
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