Tibra Equities Europe Ltd acquired a new stake in Centene Corp (NYSE:CNC) during the third quarter, Holdings Channel.com reports. The firm acquired 34,003 shares of the company’s stock, valued at approximately $1,471,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. North Star Investment Management Corp. purchased a new position in Centene during the third quarter worth about $26,000. Citizens Financial Group Inc RI increased its holdings in Centene by 71.6% in the third quarter. Citizens Financial Group Inc RI now owns 628 shares of the company’s stock valued at $27,000 after buying an additional 262 shares in the last quarter. Compagnie Lombard Odier SCmA purchased a new position in Centene in the second quarter valued at about $30,000. Reilly Financial Advisors LLC increased its holdings in Centene by 133.3% in the second quarter. Reilly Financial Advisors LLC now owns 700 shares of the company’s stock valued at $37,000 after buying an additional 400 shares in the last quarter. Finally, Cullen Frost Bankers Inc. increased its holdings in Centene by 1,566.7% in the second quarter. Cullen Frost Bankers Inc. now owns 900 shares of the company’s stock valued at $47,000 after buying an additional 846 shares in the last quarter. Institutional investors and hedge funds own 96.72% of the company’s stock.
In other news, Director Robert K. Ditmore sold 49,019 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $50.01, for a total value of $2,451,440.19. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.50% of the stock is owned by corporate insiders.
A number of brokerages have issued reports on CNC. Zacks Investment Research cut shares of Centene from a “hold” rating to a “sell” rating and set a $50.00 target price for the company. in a report on Friday, October 18th. Morgan Stanley dropped their target price on shares of Centene from $64.00 to $62.00 and set an “overweight” rating for the company in a report on Thursday, September 26th. ValuEngine raised shares of Centene from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Deutsche Bank dropped their target price on shares of Centene from $62.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Finally, Credit Suisse Group dropped their target price on shares of Centene from $63.00 to $57.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $70.05.
Shares of CNC stock traded up $1.64 during trading hours on Friday, hitting $54.73. The company’s stock had a trading volume of 382,339 shares, compared to its average volume of 5,562,524. The business has a fifty day moving average of $46.70 and a 200-day moving average of $50.41. The stock has a market cap of $21.45 billion, a price-to-earnings ratio of 15.44, a P/E/G ratio of 0.83 and a beta of 0.87. Centene Corp has a twelve month low of $41.62 and a twelve month high of $74.49. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56.
Centene (NYSE:CNC) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.95 by $0.01. The business had revenue of $18.98 billion for the quarter, compared to analyst estimates of $18.39 billion. Centene had a net margin of 1.87% and a return on equity of 15.54%. The company’s quarterly revenue was up 17.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.79 earnings per share. On average, equities analysts expect that Centene Corp will post 4.42 EPS for the current fiscal year.
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. The company's Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term services and support, foster care, and medicare-medicaid plans, which covers dually eligible individuals, as well as aged, blind, or disabled programs.
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