Capital Fund Management S.A. raised its position in Centene Corp. (NYSE:CNC) by 79.2% during the second quarter, Holdings Channel reports. The institutional investor owned 9,232 shares of the company’s stock after buying an additional 4,081 shares during the period. Capital Fund Management S.A.’s holdings in Centene Corp. were worth $659,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the company. Chase Investment Counsel Corp raised its stake in Centene Corp. by 67.0% in the second quarter. Chase Investment Counsel Corp now owns 15,210 shares of the company’s stock worth $1,085,000 after buying an additional 6,100 shares in the last quarter. American Century Companies Inc. purchased a new position in shares of Centene Corp. during the second quarter valued at about $419,000. Candriam Luxembourg S.C.A. purchased a new position in shares of Centene Corp. during the second quarter valued at about $430,000. Artemis Investment Management LLP raised its position in shares of Centene Corp. by 97.3% in the second quarter. Artemis Investment Management LLP now owns 507,588 shares of the company’s stock valued at $36,219,000 after buying an additional 250,338 shares during the period. Finally, Boston Advisors LLC raised its position in shares of Centene Corp. by 0.8% in the second quarter. Boston Advisors LLC now owns 18,742 shares of the company’s stock valued at $1,338,000 after buying an additional 150 shares during the period. 92.91% of the stock is owned by hedge funds and other institutional investors.
Shares of Centene Corp. (NYSE:CNC) traded down 2.19% during midday trading on Tuesday, hitting $61.70. 1,115,308 shares of the stock were exchanged. Centene Corp. has a 1-year low of $47.36 and a 1-year high of $75.57. The stock has a market capitalization of $10.53 billion, a price-to-earnings ratio of 23.81 and a beta of 0.95. The firm’s 50 day moving average is $66.95 and its 200-day moving average is $65.87.
Centene Corp. (NYSE:CNC) last announced its earnings results on Tuesday, July 26th. The company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.20. Centene Corp. had a net margin of 1.19% and a return on equity of 14.27%. The business earned $10.90 billion during the quarter, compared to the consensus estimate of $10.80 billion. During the same quarter last year, the firm earned $0.72 earnings per share. Centene Corp.’s quarterly revenue was up 97.9% on a year-over-year basis. On average, analysts predict that Centene Corp. will post $4.37 EPS for the current year.
Several equities analysts have recently issued reports on CNC shares. Sanford C. Bernstein started coverage on shares of Centene Corp. in a report on Thursday, June 16th. They issued a “market perform” rating and a $76.00 price target for the company. Barclays PLC raised shares of Centene Corp. from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $76.00 to $82.00 in a report on Monday, June 20th. FBR & Co reissued a “buy” rating on shares of Centene Corp. in a report on Monday, June 20th. Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $89.00 price target on shares of Centene Corp. in a report on Monday, June 20th. Finally, Leerink Swann reissued an “outperform” rating and issued a $80.00 price target (up previously from $78.00) on shares of Centene Corp. in a report on Monday, June 20th. One analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $80.76.
In other Centene Corp. news, EVP Kenneth Rone Baldwin sold 6,000 shares of the firm’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $66.58, for a total value of $399,480.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Carol Goldman sold 10,000 shares of the firm’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $66.36, for a total transaction of $663,600.00. The disclosure for this sale can be found here. Corporate insiders own 4.50% of the company’s stock.
Centene Corp. Company Profile
Centene Corporation is a diversified healthcare company that provides programs and services to government sponsored healthcare programs. The Company also provides education and outreach programs to inform and assist members in accessing appropriate healthcare services. The Company operates through two segments.
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