Fmr LLC increased its holdings in shares of Centene Corp (NYSE:CNC) by 33.4% in the second quarter, HoldingsChannel.com reports. The firm owned 797,382 shares of the company’s stock after buying an additional 199,682 shares during the quarter. Fmr LLC’s holdings in Centene were worth $98,246,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also modified their holdings of the stock. Bank of New York Mellon Corp boosted its stake in Centene by 17.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,523,248 shares of the company’s stock worth $187,680,000 after purchasing an additional 224,966 shares during the period. Schroder Investment Management Group boosted its stake in Centene by 274.4% during the 2nd quarter. Schroder Investment Management Group now owns 4,365 shares of the company’s stock worth $540,000 after purchasing an additional 3,199 shares during the period. Advisors Asset Management Inc. boosted its stake in Centene by 82.8% during the 2nd quarter. Advisors Asset Management Inc. now owns 29,600 shares of the company’s stock worth $3,647,000 after purchasing an additional 13,407 shares during the period. Cleararc Capital Inc. boosted its stake in Centene by 18.6% during the 2nd quarter. Cleararc Capital Inc. now owns 5,252 shares of the company’s stock worth $647,000 after purchasing an additional 824 shares during the period. Finally, Mount Yale Investment Advisors LLC boosted its stake in Centene by 22.5% during the 2nd quarter. Mount Yale Investment Advisors LLC now owns 4,178 shares of the company’s stock worth $515,000 after purchasing an additional 766 shares during the period. Hedge funds and other institutional investors own 89.84% of the company’s stock.
Shares of CNC opened at $142.31 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $29.36 billion, a PE ratio of 28.29, a P/E/G ratio of 1.35 and a beta of 1.05. Centene Corp has a 52-week low of $90.07 and a 52-week high of $148.24.
Centene (NYSE:CNC) last announced its quarterly earnings results on Tuesday, October 23rd. The company reported $1.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.77 by $0.02. The business had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.93 billion. Centene had a net margin of 1.58% and a return on equity of 14.42%. The business’s revenue was up 36.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.35 EPS. On average, equities research analysts forecast that Centene Corp will post 7.05 EPS for the current fiscal year.
In other Centene news, EVP Keith H. Williamson sold 2,000 shares of the firm’s stock in a transaction dated Friday, September 28th. The shares were sold at an average price of $145.00, for a total transaction of $290,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert K. Ditmore sold 15,000 shares of the firm’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $145.06, for a total transaction of $2,175,900.00. The disclosure for this sale can be found here. Insiders sold a total of 35,800 shares of company stock valued at $4,957,590 in the last quarter. Insiders own 3.00% of the company’s stock.
Several analysts have recently commented on CNC shares. Mitsubishi UFJ Financial Group started coverage on shares of Centene in a research note on Wednesday, September 19th. They issued an “overweight” rating and a $170.00 target price for the company. Zacks Investment Research upgraded shares of Centene from a “sell” rating to a “hold” rating in a research note on Thursday, October 4th. Oppenheimer raised their target price on shares of Centene from $146.00 to $158.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 2nd. Credit Suisse Group raised their target price on shares of Centene from $134.00 to $152.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 4th. Finally, Morgan Stanley raised their target price on shares of Centene from $136.00 to $138.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 25th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $151.67.
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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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