Sector Gamma AS Sells 6,732 Shares of Centene Co. (NYSE:CNC)

Sector Gamma AS decreased its holdings in shares of Centene Co. (NYSE:CNC) by 3.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 216,416 shares of the company’s stock after selling 6,732 shares during the period. Centene accounts for about 3.9% of Sector Gamma AS’s portfolio, making the stock its 11th largest position. Sector Gamma AS’s holdings in Centene were worth $16,060,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Caprock Group LLC lifted its stake in shares of Centene by 16.9% in the 3rd quarter. Caprock Group LLC now owns 4,738 shares of the company’s stock valued at $326,000 after purchasing an additional 684 shares during the period. Czech National Bank lifted its stake in shares of Centene by 45.7% in the 3rd quarter. Czech National Bank now owns 94,640 shares of the company’s stock valued at $6,519,000 after purchasing an additional 29,676 shares during the period. Handelsbanken Fonder AB lifted its stake in shares of Centene by 6.2% in the 3rd quarter. Handelsbanken Fonder AB now owns 243,087 shares of the company’s stock valued at $16,744,000 after purchasing an additional 14,209 shares during the period. Simplicity Solutions LLC lifted its stake in shares of Centene by 43.2% in the 3rd quarter. Simplicity Solutions LLC now owns 13,239 shares of the company’s stock valued at $912,000 after purchasing an additional 3,995 shares during the period. Finally, Clarius Group LLC increased its holdings in Centene by 4.5% in the 3rd quarter. Clarius Group LLC now owns 4,327 shares of the company’s stock worth $298,000 after acquiring an additional 187 shares in the last quarter. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Centene Trading Down 2.2 %

NYSE CNC traded down $1.68 during trading hours on Friday, reaching $74.00. The company had a trading volume of 6,382,731 shares, compared to its average volume of 3,066,376. The stock has a 50-day moving average of $76.32 and a 200 day moving average of $74.77. Centene Co. has a 1-year low of $60.83 and a 1-year high of $81.42. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $39.58 billion, a P/E ratio of 15.07, a price-to-earnings-growth ratio of 0.94 and a beta of 0.38.

Centene (NYSE:CNC) last posted its earnings results on Friday, April 26th. The company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.09 by $0.17. Centene had a net margin of 1.75% and a return on equity of 14.26%. The company had revenue of $40.41 billion for the quarter, compared to analysts’ expectations of $36.43 billion. During the same quarter in the prior year, the company posted $2.11 earnings per share. Centene’s revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, research analysts anticipate that Centene Co. will post 6.75 earnings per share for the current fiscal year.

Insider Buying and Selling at Centene

In other news, Director Lori Jean Robinson sold 10,000 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $77.41, for a total transaction of $774,100.00. Following the sale, the director now owns 11,455 shares of the company’s stock, valued at $886,731.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Lori Jean Robinson sold 10,000 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $77.41, for a total transaction of $774,100.00. Following the sale, the director now owns 11,455 shares of the company’s stock, valued at $886,731.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Kenneth J. Fasola sold 12,000 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $75.07, for a total transaction of $900,840.00. Following the sale, the president now directly owns 235,365 shares in the company, valued at approximately $17,668,850.55. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Barclays assumed coverage on shares of Centene in a report on Wednesday, March 6th. They issued an “overweight” rating and a $101.00 price target for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 price target on shares of Centene in a report on Thursday, April 4th. Stephens reissued an “equal weight” rating and issued a $85.00 price target (down previously from $92.00) on shares of Centene in a report on Thursday, March 21st. Wells Fargo & Company upped their target price on shares of Centene from $89.00 to $93.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Finally, StockNews.com lowered shares of Centene from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 28th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $85.25.

About Centene

Centene Corporation operates as a healthcare enterprise that provides programs and services to under-insured and uninsured families, commercial organizations, and military families in the United States. The company operates through Medicaid, Medicare, Commercial, and Other segments. The Medicaid segment offers health plan coverage, including medicaid expansion, aged, blind, disabled, children's health insurance program, foster care, medicare-medicaid plans, long-term services and support.