Brown Advisory Inc. purchased a new position in shares of Centene Corp (NYSE:CNC) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,739 shares of the company’s stock, valued at approximately $214,000.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Martingale Asset Management L P raised its position in shares of Centene by 5.7% in the 2nd quarter. Martingale Asset Management L P now owns 7,313 shares of the company’s stock valued at $902,000 after purchasing an additional 397 shares in the last quarter. LS Investment Advisors LLC raised its position in shares of Centene by 5.0% in the 2nd quarter. LS Investment Advisors LLC now owns 8,819 shares of the company’s stock valued at $1,087,000 after purchasing an additional 416 shares in the last quarter. Green Square Capital LLC raised its position in shares of Centene by 9.2% in the 1st quarter. Green Square Capital LLC now owns 6,140 shares of the company’s stock valued at $656,000 after purchasing an additional 516 shares in the last quarter. American Century Companies Inc. raised its position in shares of Centene by 16.8% in the 2nd quarter. American Century Companies Inc. now owns 3,819 shares of the company’s stock valued at $471,000 after purchasing an additional 550 shares in the last quarter. Finally, Howard Capital Management Inc. raised its position in shares of Centene by 26.7% in the 1st quarter. Howard Capital Management Inc. now owns 2,716 shares of the company’s stock valued at $276,000 after purchasing an additional 572 shares in the last quarter. 90.07% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have issued reports on CNC shares. Zacks Investment Research lowered Centene from a “buy” rating to a “hold” rating in a research report on Wednesday, August 1st. MED reaffirmed an “outperform” rating and issued a $146.00 target price (up from $138.00) on shares of Centene in a research report on Wednesday, July 25th. Bank of America upped their target price on Centene from $145.00 to $158.00 and gave the company a “buy” rating in a research report on Tuesday, July 24th. Credit Suisse Group upped their target price on Centene from $134.00 to $152.00 and gave the company a “neutral” rating in a research report on Tuesday, September 4th. Finally, Morgan Stanley boosted their price target on Centene from $127.00 to $136.00 and gave the company an “overweight” rating in a report on Friday, July 13th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $144.38.
Shares of NYSE CNC opened at $145.24 on Friday. Centene Corp has a twelve month low of $83.56 and a twelve month high of $148.24. The company has a quick ratio of 1.26, a current ratio of 1.25 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $29.61 billion, a PE ratio of 28.87, a PEG ratio of 1.39 and a beta of 0.85.
Centene (NYSE:CNC) last issued its quarterly earnings results on Tuesday, July 24th. The company reported $1.80 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.77 by $0.03. Centene had a return on equity of 14.57% and a net margin of 2.06%. The business had revenue of $14.18 billion during the quarter, compared to the consensus estimate of $13.82 billion. During the same period in the previous year, the business earned $1.59 EPS. The business’s quarterly revenue was up 18.6% on a year-over-year basis. equities analysts forecast that Centene Corp will post 7.08 EPS for the current year.
In related news, EVP Brandy Burkhalter sold 3,000 shares of the company’s stock in a transaction on Thursday, July 26th. The stock was sold at an average price of $131.90, for a total transaction of $395,700.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert K. Ditmore sold 15,000 shares of the company’s stock in a transaction on Monday, September 10th. The stock was sold at an average price of $145.06, for a total value of $2,175,900.00. The disclosure for this sale can be found here. Insiders sold a total of 30,550 shares of company stock valued at $4,274,790 over the last quarter. Company insiders own 3.00% of the company’s stock.
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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