BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Centene Corporation (NYSE:CNC) by 3.3% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 94,895 shares of the company’s stock after purchasing an additional 3,000 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.05% of Centene worth $9,183,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of CNC. Mckinley Capital Management LLC Delaware purchased a new stake in shares of Centene during the 2nd quarter valued at approximately $101,000. IFP Advisors Inc lifted its stake in shares of Centene by 9.6% during the 2nd quarter. IFP Advisors Inc now owns 1,944 shares of the company’s stock valued at $155,000 after buying an additional 170 shares in the last quarter. Baldwin Brothers Inc. MA purchased a new stake in shares of Centene during the 3rd quarter valued at approximately $185,000. Sii Investments Inc. WI purchased a new stake in shares of Centene during the 2nd quarter valued at approximately $202,000. Finally, Calamos Advisors LLC purchased a new stake in shares of Centene during the 3rd quarter valued at approximately $207,000. 91.84% of the stock is owned by institutional investors and hedge funds.
A number of analysts recently commented on CNC shares. Jefferies Group upped their price target on shares of Centene from $98.00 to $112.00 and gave the company a “buy” rating in a research note on Friday, October 13th. Oppenheimer reiterated a “buy” rating and issued a $105.00 target price on shares of Centene in a research note on Friday, September 29th. Cantor Fitzgerald reiterated a “buy” rating and issued a $107.00 target price on shares of Centene in a research note on Tuesday, October 24th. Cowen reiterated a “buy” rating and issued a $115.00 target price on shares of Centene in a research note on Tuesday, October 24th. Finally, Zacks Investment Research upgraded shares of Centene from a “hold” rating to a “buy” rating and set a $107.00 target price on the stock in a research note on Friday, September 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Centene has a consensus rating of “Buy” and an average target price of $102.50.
In other Centene news, Director Robert K. Ditmore sold 4,167 shares of the firm’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $90.42, for a total value of $376,780.14. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Jesse N. Hunter sold 10,000 shares of the firm’s stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $98.73, for a total transaction of $987,300.00. The disclosure for this sale can be found here. 3.00% of the stock is owned by company insiders.
Centene Corporation (CNC) traded up $1.67 during mid-day trading on Tuesday, hitting $102.59. 1,120,000 shares of the company traded hands, compared to its average volume of 1,460,000. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.99 and a current ratio of 0.99. Centene Corporation has a 52 week low of $55.89 and a 52 week high of $104.65. The company has a market cap of $17,700.00, a price-to-earnings ratio of 21.20, a P/E/G ratio of 1.45 and a beta of 0.71.
Centene (NYSE:CNC) last released its earnings results on Tuesday, October 24th. The company reported $1.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.11. Centene had a net margin of 1.81% and a return on equity of 14.79%. The company had revenue of $11.90 billion for the quarter, compared to analyst estimates of $11.75 billion. During the same quarter last year, the firm earned $1.12 EPS. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. equities analysts predict that Centene Corporation will post 4.99 earnings per share for the current fiscal year.
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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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