IFM Investors Pty Ltd Acquires Shares of 4,849 Centene Corporation (CNC)

IFM Investors Pty Ltd acquired a new stake in shares of Centene Corporation (NYSE:CNC) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,849 shares of the company’s stock, valued at approximately $469,000.

Several other institutional investors also recently added to or reduced their stakes in CNC. Mckinley Capital Management LLC Delaware bought a new stake in shares of Centene during the second quarter valued at approximately $101,000. IFP Advisors Inc raised its position in shares of Centene by 9.6% during the second quarter. IFP Advisors Inc now owns 1,944 shares of the company’s stock valued at $155,000 after buying an additional 170 shares during the last quarter. Baldwin Brothers Inc. MA bought a new stake in shares of Centene during the third quarter valued at approximately $185,000. Sii Investments Inc. WI bought a new stake in shares of Centene during the second quarter valued at approximately $202,000. Finally, Calamos Advisors LLC bought a new stake in shares of Centene during the third quarter valued at approximately $207,000. Hedge funds and other institutional investors own 92.33% of the company’s stock.

Centene Corporation (NYSE:CNC) opened at $94.86 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market cap of $17,087.53, a price-to-earnings ratio of 18.86, a P/E/G ratio of 1.51 and a beta of 0.71. Centene Corporation has a fifty-two week low of $54.40 and a fifty-two week high of $103.15.

Centene (NYSE:CNC) last posted its quarterly earnings data on Tuesday, October 24th. The company reported $1.35 EPS for the quarter, topping the consensus estimate of $1.24 by $0.11. The company had revenue of $11.90 billion during the quarter, compared to analyst estimates of $11.75 billion. Centene had a net margin of 1.81% and a return on equity of 14.79%. Centene’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.12 earnings per share. research analysts predict that Centene Corporation will post 4.98 EPS for the current year.

Several equities research analysts have recently issued reports on CNC shares. BidaskClub upgraded shares of Centene from a “hold” rating to a “buy” rating in a research report on Thursday, August 24th. Piper Jaffray Companies reissued a “buy” rating and issued a $105.00 target price on shares of Centene in a report on Friday, September 1st. Cantor Fitzgerald raised their target price on shares of Centene to $107.00 and gave the company an “overweight” rating in a report on Wednesday, September 13th. Cowen reissued an “outperform” rating and issued a $105.00 target price (up from $77.00) on shares of Centene in a report on Wednesday, September 13th. Finally, Leerink Swann reissued a “market perform” rating and issued a $90.00 target price (up from $78.00) on shares of Centene in a report on Wednesday, September 13th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have given a buy rating to the company. Centene has a consensus rating of “Buy” and an average target price of $99.11.

In other Centene news, Director Robert K. Ditmore sold 4,167 shares of Centene stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $90.42, for a total transaction of $376,780.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.00% of the stock is owned by insiders.

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About Centene

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.

Institutional Ownership by Quarter for Centene (NYSE:CNC)

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