FDx Advisors Inc. lowered its position in Centene Corp (NYSE:CNC) by 22.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,380 shares of the company’s stock after selling 1,281 shares during the quarter. FDx Advisors Inc.’s holdings in Centene were worth $540,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of CNC. Financial Gravity Wealth Inc. purchased a new position in Centene in the first quarter worth approximately $114,000. IMA Wealth Inc. purchased a new position in Centene in the second quarter worth approximately $124,000. Steward Partners Investment Advisory LLC lifted its stake in Centene by 127.2% in the second quarter. Steward Partners Investment Advisory LLC now owns 1,254 shares of the company’s stock worth $155,000 after acquiring an additional 702 shares during the last quarter. Cornerstone Wealth Management LLC purchased a new position in Centene in the second quarter worth approximately $157,000. Finally, Cerebellum GP LLC purchased a new position in Centene in the second quarter worth approximately $180,000. Institutional investors own 90.07% of the company’s stock.
Several analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Centene from a “buy” rating to a “hold” rating in a research report on Thursday, August 9th. Barclays assumed coverage on shares of Centene in a research report on Monday, July 23rd. They set an “overweight” rating and a $158.00 price objective for the company. Morgan Stanley boosted their price objective on shares of Centene from $127.00 to $136.00 and gave the stock an “overweight” rating in a research report on Friday, July 13th. Citigroup restated a “neutral” rating and set a $147.00 price objective on shares of Centene in a research report on Wednesday, July 18th. Finally, Credit Suisse Group boosted their price objective on shares of Centene from $125.00 to $134.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 25th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $139.18.
In other news, Director Robert K. Ditmore sold 8,750 shares of Centene stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $131.44, for a total value of $1,150,100.00. Following the transaction, the director now directly owns 472,241 shares of the company’s stock, valued at approximately $62,071,357.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Keith H. Williamson sold 2,000 shares of Centene stock in a transaction on Monday, June 11th. The shares were sold at an average price of $120.00, for a total transaction of $240,000.00. The disclosure for this sale can be found here. Insiders sold a total of 13,750 shares of company stock worth $1,785,800 over the last ninety days. Corporate insiders own 3.00% of the company’s stock.
Shares of NYSE:CNC opened at $146.88 on Thursday. The company has a market cap of $29.87 billion, a PE ratio of 23.14, a P/E/G ratio of 1.40 and a beta of 0.79. The company has a quick ratio of 1.26, a current ratio of 1.25 and a debt-to-equity ratio of 0.59. Centene Corp has a twelve month low of $83.56 and a twelve month high of $147.59.
Centene (NYSE:CNC) last issued its quarterly earnings data on Tuesday, July 24th. The company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.03. The business had revenue of $14.18 billion during the quarter, compared to the consensus estimate of $13.82 billion. Centene had a net margin of 2.06% and a return on equity of 14.57%. The company’s revenue was up 18.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.59 EPS. equities research analysts forecast that Centene Corp will post 7.08 EPS for the current year.
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.
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