Vise Technologies Inc. Takes Position in Centene Corporation $CNC

Vise Technologies Inc. acquired a new position in Centene Corporation (NYSE:CNC) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 21,328 shares of the company’s stock, valued at approximately $1,369,000.

A number of other hedge funds have also recently bought and sold shares of CNC. Baird Financial Group Inc. acquired a new stake in shares of Centene in the 1st quarter valued at $236,000. Sivia Capital Partners LLC lifted its stake in shares of Centene by 80.0% during the second quarter. Sivia Capital Partners LLC now owns 9,710 shares of the company’s stock valued at $527,000 after acquiring an additional 4,315 shares during the period. CW Advisors LLC increased its position in Centene by 20.3% in the second quarter. CW Advisors LLC now owns 4,863 shares of the company’s stock worth $264,000 after purchasing an additional 820 shares during the period. NewEdge Advisors LLC lifted its position in Centene by 6.1% during the 2nd quarter. NewEdge Advisors LLC now owns 44,945 shares of the company’s stock valued at $2,440,000 after purchasing an additional 2,582 shares during the period. Finally, Treasurer of the State of North Carolina boosted its stake in shares of Centene by 0.4% in the 2nd quarter. Treasurer of the State of North Carolina now owns 231,938 shares of the company’s stock valued at $12,590,000 after purchasing an additional 967 shares during the last quarter. 93.63% of the stock is currently owned by institutional investors.

Insider Activity at Centene

In related news, General Counsel Christopher Koster sold 47,603 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $65.36, for a total transaction of $3,111,332.08. Following the sale, the general counsel owned 305,354 shares of the company’s stock, valued at approximately $19,957,937.44. This trade represents a 13.49% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.37% of the stock is currently owned by corporate insiders.

Centene Stock Up 1.2%

Shares of NYSE CNC opened at $64.94 on Friday. Centene Corporation has a 52-week low of $28.24 and a 52-week high of $69.36. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.15 and a current ratio of 1.15. The stock has a market cap of $32.08 billion, a P/E ratio of -6.22, a P/E/G ratio of 0.35 and a beta of 1.08. The firm has a 50 day moving average price of $64.96 and a 200 day moving average price of $52.40.

Centene (NYSE:CNC) last posted its earnings results on Monday, July 27th. The company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $1.09 by $1.42. The company had revenue of $53.58 billion for the quarter, compared to analyst estimates of $47.64 billion. Centene had a negative net margin of 2.51% and a positive return on equity of 12.12%. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period last year, the business posted ($0.16) earnings per share. Analysts expect that Centene Corporation will post 4.89 EPS for the current year.

Analysts Set New Price Targets

CNC has been the subject of a number of recent research reports. Jefferies Financial Group boosted their price target on shares of Centene from $39.00 to $48.00 and gave the stock a “hold” rating in a research note on Wednesday, April 29th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Centene in a report on Friday, July 17th. Sanford C. Bernstein reiterated an “outperform” rating and set a $79.00 target price (up from $68.00) on shares of Centene in a research report on Monday, August 3rd. Barclays restated an “overweight” rating and issued a $80.00 price target (up from $75.00) on shares of Centene in a research report on Wednesday, July 29th. Finally, Zacks Research raised Centene from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $70.05.

Centene Profile

Centene Corporation (NYSE: CNC) is a diversified, multi-national healthcare enterprise that specializes in providing services to government-sponsored and national health programs. The company primarily acts as a managed care organization, delivering healthcare coverage and administering benefits for Medicaid, the Children’s Health Insurance Program (CHIP), Medicare Advantage, and individual marketplace plans. Centene also contracts with federal and state agencies to manage specialty care programs and community-based services for vulnerable populations.

Centene’s offerings extend beyond traditional insurance to include a range of specialty and support services.