Centene Corp (CNC) Position Trimmed by Natixis

Natixis lessened its holdings in shares of Centene Corp (NYSE:CNC) by 22.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 254,393 shares of the company’s stock after selling 73,721 shares during the period. Natixis owned approximately 0.12% of Centene worth $27,187,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Focused Wealth Management Inc boosted its position in Centene by 900.0% during the fourth quarter. Focused Wealth Management Inc now owns 1,000 shares of the company’s stock worth $101,000 after purchasing an additional 900 shares in the last quarter. Financial Gravity Companies Inc. purchased a new stake in Centene during the fourth quarter worth $112,000. We Are One Seven LLC purchased a new stake in Centene during the fourth quarter worth $114,000. Tower Research Capital LLC TRC purchased a new stake in Centene during the fourth quarter worth $145,000. Finally, Advisors Preferred LLC purchased a new stake in Centene during the fourth quarter worth $159,000. 76.42% of the stock is currently owned by hedge funds and other institutional investors.

In related news, CEO Michael F. Neidorff sold 250,000 shares of the stock in a transaction dated Thursday, April 26th. The stock was sold at an average price of $108.20, for a total transaction of $27,050,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Keith H. Williamson sold 2,000 shares of the stock in a transaction dated Monday, June 11th. The stock was sold at an average price of $120.00, for a total value of $240,000.00. The disclosure for this sale can be found here. Insiders have sold 262,750 shares of company stock worth $28,461,313 over the last quarter. 3.00% of the stock is currently owned by company insiders.

A number of analysts have commented on the company. Morgan Stanley boosted their target price on Centene from $126.00 to $127.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 25th. Zacks Investment Research downgraded Centene from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 10th. Cantor Fitzgerald restated a “buy” rating and issued a $125.00 price objective on shares of Centene in a research report on Monday, April 2nd. Finally, BMO Capital Markets restated a “buy” rating on shares of Centene in a research report on Monday, March 26th. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $116.20.

NYSE CNC opened at $124.67 on Thursday. Centene Corp has a twelve month low of $77.83 and a twelve month high of $126.04. The stock has a market cap of $25.02 billion, a P/E ratio of 24.79, a price-to-earnings-growth ratio of 1.18 and a beta of 0.76. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68.

Centene (NYSE:CNC) last released its earnings results on Tuesday, April 24th. The company reported $2.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.92 by $0.25. Centene had a return on equity of 15.69% and a net margin of 2.06%. The firm had revenue of $13.19 billion for the quarter, compared to the consensus estimate of $13.33 billion. During the same period in the prior year, the business posted $1.12 earnings per share. The firm’s revenue for the quarter was up 12.5% compared to the same quarter last year. equities analysts anticipate that Centene Corp will post 7.05 EPS for the current year.

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.

Institutional Ownership by Quarter for Centene (NYSE:CNC)

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