Private Capital Management Inc. decreased its holdings in shares of Centene Corporation (NYSE:CNC) by 40.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,500 shares of the company’s stock after selling 1,000 shares during the quarter. Private Capital Management Inc.’s holdings in Centene Corporation were worth $145,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also bought and sold shares of the stock. FMR LLC lifted its holdings in Centene Corporation by 86.7% in the 1st quarter. FMR LLC now owns 600,743 shares of the company’s stock worth $42,809,000 after buying an additional 279,056 shares in the last quarter. Teachers Advisors LLC lifted its holdings in Centene Corporation by 24.6% in the 1st quarter. Teachers Advisors LLC now owns 570,023 shares of the company’s stock worth $40,620,000 after buying an additional 112,439 shares in the last quarter. MARSHALL WACE ASIA Ltd acquired a new position in Centene Corporation in the 1st quarter worth $404,000. Marshall Wace North America L.P. acquired a new position in Centene Corporation in the 1st quarter worth $404,000. Finally, Gotham Asset Management LLC lifted its holdings in Centene Corporation by 12.9% in the 1st quarter. Gotham Asset Management LLC now owns 25,335 shares of the company’s stock worth $1,805,000 after buying an additional 2,886 shares in the last quarter. Institutional investors and hedge funds own 92.86% of the company’s stock.
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In other news, EVP Christopher D. Bowers sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $79.43, for a total value of $317,720.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 3.00% of the stock is currently owned by company insiders.
A number of equities analysts have commented on CNC shares. Piper Jaffray Companies reiterated a “buy” rating and issued a $105.00 price objective on shares of Centene Corporation in a report on Thursday, July 27th. ValuEngine raised shares of Centene Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, July 27th. Cantor Fitzgerald reissued a “buy” rating and issued a $90.00 target price on shares of Centene Corporation in a research report on Tuesday, July 25th. Jefferies Group LLC reissued a “buy” rating and issued a $94.00 target price on shares of Centene Corporation in a research report on Friday, July 14th. Finally, Bank of America Corporation boosted their target price on shares of Centene Corporation from $93.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seventeen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $96.42.
Centene Corporation (NYSE CNC) traded down 0.99% during mid-day trading on Monday, reaching $93.48. 512,548 shares of the company traded hands. The firm has a market cap of $16.12 billion, a PE ratio of 20.51 and a beta of 0.68. Centene Corporation has a one year low of $50.00 and a one year high of $98.71. The stock’s 50-day moving average price is $94.02 and its 200-day moving average price is $83.21.
Centene Corporation (NYSE:CNC) last issued its earnings results on Tuesday, October 24th. The company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.11. The company had revenue of $11.90 billion for the quarter, compared to analyst estimates of $11.75 billion. Centene Corporation had a net margin of 1.81% and a return on equity of 14.79%. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.12 EPS. Analysts forecast that Centene Corporation will post $4.97 earnings per share for the current fiscal year.
About Centene Corporation
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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