EFG Asset Management Americas Corp. bought a new stake in Centene Corp (NYSE:CNC) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 4,903 shares of the company’s stock, valued at approximately $312,000.
Other hedge funds also recently bought and sold shares of the company. Kistler Tiffany Companies LLC purchased a new stake in Centene in the 2nd quarter valued at approximately $28,000. Evolution Wealth Advisors LLC lifted its stake in Centene by 118.7% in the 1st quarter. Evolution Wealth Advisors LLC now owns 551 shares of the company’s stock valued at $33,000 after buying an additional 299 shares in the last quarter. Flagship Harbor Advisors LLC lifted its stake in 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 buying an additional 377 shares in the last quarter. Savior LLC lifted its stake in Centene by 49.2% in the 1st quarter. Savior LLC now owns 764 shares of the company’s stock valued at $45,000 after buying an additional 252 shares in the last quarter. Finally, Harwood Advisory Group LLC purchased a new stake in Centene in the 1st quarter valued at approximately $45,000. 93.58% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP Kenneth A. Burdick sold 35,000 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $67.09, for a total value of $2,348,150.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Brandy Burkhalter sold 8,000 shares of the stock in a transaction on Monday, June 8th. The shares were sold at an average price of $67.00, for a total value of $536,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 222,861 shares of company stock valued at $14,674,987. 1.90% of the stock is owned by insiders.
A number of research firms recently issued reports on CNC. Bank of America reaffirmed a “buy” rating and issued a $82.00 target price on shares of Centene in a research note on Wednesday, April 29th. Jefferies Financial Group reduced their price target on Centene from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Wednesday. SVB Leerink started coverage on Centene in a research note on Wednesday, July 1st. They set an “outperform” rating and a $78.00 price target on the stock. TheStreet raised Centene from a “c+” rating to a “b” rating in a research note on Wednesday, April 8th. Finally, Oppenheimer started coverage on Centene in a research note on Friday, June 12th. They set a “buy” rating and a $90.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $82.92.
Shares of CNC stock traded down $1.56 on Friday, reaching $65.25. 2,527,731 shares of the stock were exchanged, compared to its average volume of 2,863,517. The stock has a market cap of $37.79 billion, a P/E ratio of 22.89, a price-to-earnings-growth ratio of 0.95 and a beta of 0.73. The company has a quick ratio of 1.14, a current ratio of 1.22 and a debt-to-equity ratio of 0.66. The firm has a 50 day moving average of $64.50 and a two-hundred day moving average of $63.43. Centene Corp has a 1-year low of $41.62 and a 1-year high of $74.70.
Centene (NYSE:CNC) last released its quarterly earnings data on Tuesday, July 28th. The company reported $2.40 EPS for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.03). The firm had revenue of $27.71 billion for the quarter, compared to analyst estimates of $27.48 billion. Centene had a return on equity of 14.07% and a net margin of 1.70%. The company’s quarterly revenue was up 51.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.34 earnings per share. On average, equities research analysts predict that Centene Corp will post 4.89 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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