Centene Corporation $CNC Stock Sold by Lido Advisors LLC

Lido Advisors LLC decreased its position in Centene Corporation (NYSE:CNC) by 27.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 32,459 shares of the company’s stock after selling 12,563 shares during the quarter. Lido Advisors LLC’s holdings in Centene were worth $2,016,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Citizens Financial Group Inc. RI raised its position in Centene by 71.5% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 41,815 shares of the company’s stock valued at $2,598,000 after purchasing an additional 17,429 shares during the last quarter. Deutsche Bank AG acquired a new position in Centene in the second quarter worth $257,279,000. Hara Capital LLC bought a new stake in shares of Centene during the second quarter worth $5,222,000. Paralel Advisors LLC bought a new stake in shares of Centene during the second quarter worth $4,531,000. Finally, Nilsine Partners LLC increased its stake in shares of Centene by 110.6% in the second quarter. Nilsine Partners LLC now owns 35,320 shares of the company’s stock valued at $2,267,000 after buying an additional 18,546 shares in the last quarter. Institutional investors and hedge funds own 93.63% of the company’s stock.

Centene Trading Up 1.4%

NYSE:CNC traded up $0.96 during trading hours on Friday, hitting $71.23. The stock had a trading volume of 4,002,872 shares, compared to its average volume of 5,782,810. The business’s 50 day moving average is $67.07 and its 200-day moving average is $56.51. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.16 and a current ratio of 1.16. The company has a market cap of $35.27 billion, a price-to-earnings ratio of 24.40, a P/E/G ratio of 0.41 and a beta of 1.07. Centene Corporation has a one year low of $31.63 and a one year high of $78.08.

Centene (NYSE:CNC) last posted its earnings results on Tuesday, October 27th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.48. Centene had a return on equity of 12.15% and a net margin of 0.72%. The business had revenue of $50.65 billion during the quarter, compared to analysts’ expectations of $47.12 billion. During the same period in the prior year, the business earned $0.50 EPS. Centene’s revenue for the quarter was up 1.9% compared to the same quarter last year. Sell-side analysts anticipate that Centene Corporation will post 5.27 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have commented on CNC. Argus raised shares of Centene from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a report on Tuesday, August 11th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $69.00 target price on shares of Centene in a research note on Thursday, October 29th. HC Wainwright reiterated a “buy” rating on shares of Centene in a research report on Friday, September 11th. Sanford C. Bernstein reissued an “outperform” rating and set a $79.00 price target (up from $68.00) on shares of Centene in a research note on Monday, August 3rd. Finally, Weiss Ratings raised shares of Centene from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, October 28th. Nine equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $73.80.

Insider Transactions at Centene

In other news, General Counsel Christopher Koster sold 56,500 shares of the stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $66.90, for a total value of $3,779,850.00. Following the completion of the sale, the general counsel owned 248,854 shares of the company’s stock, valued at approximately $16,648,332.60. This represents a 18.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.37% of the company’s stock.

Centene Company Profile

Centene Corporation is a U.S. health care company that provides managed care and related services, primarily for people enrolled in government-sponsored health programs. Its offerings include Medicaid and Medicare plans, as well as health insurance sold through the Affordable Care Act marketplace. Centene serves members through health plans and a network of health care providers. Its businesses include Ambetter, which offers marketplace health plans, and Wellcare, which provides Medicare-related coverage.