Commonwealth Equity Services LLC raised its stake in Centene Corp (NYSE:CNC) by 18.5% during the fourth quarter, Holdings Channel reports. The firm owned 15,842 shares of the company’s stock after purchasing an additional 2,473 shares during the period. Commonwealth Equity Services LLC’s holdings in Centene were worth $1,826,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Lindbrook Capital LLC acquired a new position in shares of Centene in the 4th quarter valued at $31,000. Prime Capital Investment Advisors LLC acquired a new position in shares of Centene in the 4th quarter valued at $47,000. Exane Asset Management boosted its holdings in shares of Centene by 40.7% in the 4th quarter. Exane Asset Management now owns 678 shares of the company’s stock valued at $78,000 after purchasing an additional 196 shares during the last quarter. Flagship Harbor Advisors LLC boosted its holdings in shares of Centene by 39.5% in the 4th quarter. Flagship Harbor Advisors LLC now owns 706 shares of the company’s stock valued at $81,000 after purchasing an additional 200 shares during the last quarter. Finally, FNY Investment Advisers LLC acquired a new position in shares of Centene in the 3rd quarter valued at $107,000. Institutional investors own 45.40% of the company’s stock.
In related news, EVP Mark J. Brooks sold 2,540 shares of Centene stock in a transaction on Tuesday, December 18th. The shares were sold at an average price of $121.26, for a total transaction of $308,000.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Jeffrey A. Schwaneke sold 4,000 shares of Centene stock in a transaction on Tuesday, January 15th. The stock was sold at an average price of $125.00, for a total transaction of $500,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 15,740 shares of company stock worth $1,406,092 in the last ninety days. 2.40% of the stock is currently owned by insiders.
A number of equities analysts have weighed in on the stock. Oppenheimer decreased their price target on shares of Centene from $165.00 to $83.00 and set an “outperform” rating on the stock in a report on Wednesday, February 6th. ValuEngine lowered shares of Centene from a “hold” rating to a “sell” rating in a report on Friday, February 8th. Zacks Investment Research upgraded shares of Centene from a “hold” rating to a “buy” rating and set a $66.50 price target on the stock in a report on Friday, January 11th. Cantor Fitzgerald lifted their price target on shares of Centene from $72.50 to $82.50 and gave the company an “overweight” rating in a report on Monday, December 17th. Finally, Cowen started coverage on shares of Centene in a report on Thursday, February 28th. They set an “outperform” rating and a $77.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $77.64.
NYSE:CNC opened at $59.38 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.60. The firm has a market cap of $24.08 billion, a P/E ratio of 16.77, a price-to-earnings-growth ratio of 1.03 and a beta of 1.29. Centene Corp has a twelve month low of $50.00 and a twelve month high of $74.49.
Centene (NYSE:CNC) last posted its earnings results on Tuesday, February 5th. The company reported $1.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.05. The business had revenue of $16.56 billion for the quarter, compared to analyst estimates of $16.38 billion. Centene had a net margin of 1.50% and a return on equity of 14.10%. The business’s quarterly revenue was up 29.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.49 EPS. Sell-side analysts forecast that Centene Corp will post 4.23 EPS for the current year.
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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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