Duality Advisers LP purchased a new position in shares of Centene Corp (NYSE:CNC) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 29,695 shares of the company’s stock, valued at approximately $1,887,000.
Several other hedge funds have also modified their holdings of CNC. Kistler Tiffany Companies LLC bought a new stake in shares of Centene during the 2nd quarter worth approximately $28,000. Evolution Wealth Advisors LLC increased its holdings in Centene by 118.7% during the 1st quarter. Evolution Wealth Advisors LLC now owns 551 shares of the company’s stock worth $33,000 after purchasing an additional 299 shares during the period. Flagship Harbor Advisors LLC increased its holdings in shares of Centene by 113.9% in the 1st quarter. Flagship Harbor Advisors LLC now owns 708 shares of the company’s stock valued at $42,000 after acquiring an additional 377 shares during the period. Savior LLC increased its holdings in shares of Centene by 49.2% in the 1st quarter. Savior LLC now owns 764 shares of the company’s stock valued at $45,000 after acquiring an additional 252 shares during the period. Finally, Harwood Advisory Group LLC purchased a new position in shares of Centene in the 1st quarter valued at $45,000. 93.58% of the stock is owned by hedge funds and other institutional investors.
In other Centene news, EVP Kenneth A. Burdick sold 35,000 shares of Centene stock in a transaction on Monday, May 11th. The shares were sold at an average price of $67.09, for a total transaction of $2,348,150.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John R. Roberts sold 10,000 shares of Centene stock in a transaction on Monday, May 18th. The stock was sold at an average price of $70.00, for a total transaction of $700,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 222,861 shares of company stock worth $14,674,987. 1.90% of the stock is currently owned by corporate insiders.
Centene stock opened at $65.25 on Friday. Centene Corp has a 1 year low of $41.62 and a 1 year high of $74.70. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.14 and a current ratio of 1.22. The company’s fifty day moving average price is $64.50 and its 200 day moving average price is $63.43. The stock has a market capitalization of $37.79 billion, a P/E ratio of 22.89, a P/E/G ratio of 0.95 and a beta of 0.73.
Centene (NYSE:CNC) last announced its earnings results on Tuesday, July 28th. The company reported $2.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.43 by ($0.03). Centene had a return on equity of 14.07% and a net margin of 1.70%. The business had revenue of $27.71 billion for the quarter, compared to analyst estimates of $27.48 billion. During the same period last year, the firm earned $1.34 EPS. The company’s revenue for the quarter was up 51.0% compared to the same quarter last year. Sell-side analysts predict that Centene Corp will post 4.89 EPS for the current year.
Several equities research analysts have weighed in on CNC shares. Jefferies Financial Group lowered their price target on Centene from $85.00 to $83.00 and set a “buy” rating for the company in a report on Wednesday. SunTrust Banks increased their price objective on shares of Centene from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, April 13th. SVB Leerink began coverage on shares of Centene in a research report on Wednesday, July 1st. They issued an “outperform” rating and a $78.00 price objective for the company. Citigroup increased their price objective on shares of Centene from $70.00 to $81.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Finally, ValuEngine lowered shares of Centene from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Centene presently has an average rating of “Buy” and an average target price of $82.92.
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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