Glenmede Trust Co. NA increased its stake in shares of Centene Corp (NYSE:CNC) by 3.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 297,712 shares of the company’s stock after purchasing an additional 9,913 shares during the quarter. Glenmede Trust Co. NA owned 0.17% of Centene worth $30,032,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Elk Creek Partners LLC grew its stake in Centene by 11.5% during the 3rd quarter. Elk Creek Partners LLC now owns 5,264 shares of the company’s stock worth $509,000 after purchasing an additional 542 shares in the last quarter. New Mexico Educational Retirement Board grew its stake in Centene by 3.8% during the 4th quarter. New Mexico Educational Retirement Board now owns 16,600 shares of the company’s stock worth $1,675,000 after purchasing an additional 600 shares in the last quarter. Eqis Capital Management Inc. grew its stake in Centene by 5.1% during the 4th quarter. Eqis Capital Management Inc. now owns 13,862 shares of the company’s stock worth $1,398,000 after purchasing an additional 672 shares in the last quarter. Synovus Financial Corp grew its stake in Centene by 2.3% during the 4th quarter. Synovus Financial Corp now owns 30,363 shares of the company’s stock worth $3,063,000 after purchasing an additional 685 shares in the last quarter. Finally, CIBC Asset Management Inc grew its stake in Centene by 4.5% during the 4th quarter. CIBC Asset Management Inc now owns 17,217 shares of the company’s stock worth $1,737,000 after purchasing an additional 742 shares in the last quarter. 90.52% of the stock is owned by hedge funds and other institutional investors.
Shares of Centene Corp (NYSE CNC) opened at $104.41 on Tuesday. Centene Corp has a fifty-two week low of $65.03 and a fifty-two week high of $112.42. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market capitalization of $18,510.54, a PE ratio of 22.26, a PEG ratio of 1.02 and a beta of 0.76.
Centene (NYSE:CNC) last posted its earnings results on Tuesday, February 6th. The company reported $0.97 earnings per share for the quarter, beating the Thomson Reuters’ 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 business had revenue of $12.81 billion during the quarter, compared to the consensus estimate of $12.25 billion. During the same period in the previous year, the business earned $1.19 EPS. The business’s quarterly revenue was up 7.5% on a year-over-year basis. analysts anticipate that Centene Corp will post 7.2 earnings per share for the current fiscal year.
Several research firms recently commented on CNC. Leerink Swann reissued a “market perform” rating and set a $90.00 target price (down from $100.00) on shares of Centene in a research note on Tuesday, February 13th. Credit Suisse Group upped their price objective on Centene from $110.00 to $112.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 7th. Cantor Fitzgerald upped their price objective on Centene from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Morgan Stanley upped their price objective on Centene from $118.00 to $126.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Finally, Citigroup reaffirmed an “outperform” rating and set a $130.00 price objective (up from $122.00) on shares of Centene in a research report on Wednesday, February 7th. Three research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $110.28.
In other Centene news, EVP Christopher D. Bowers sold 4,800 shares of the company’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $102.27, for a total transaction of $490,896.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Keith H. Williamson sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $100.11, for a total value of $500,550.00. The disclosure for this sale can be found here. Insiders sold a total of 27,300 shares of company stock valued at $2,815,209 over the last three months. Company insiders own 3.00% of the company’s stock.
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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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