8,422 Shares of Centene Corporation $CNC Bought by Parrish Capital LLC

Parrish Capital LLC purchased a new position in shares of Centene Corporation (NYSE:CNC) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 8,422 shares of the company’s stock, valued at approximately $523,000.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. purchased a new stake in Centene in the 2nd quarter worth approximately $2,660,422,000. Wellington Management Group LLP grew its stake in shares of Centene by 423.0% during the 2nd quarter. Wellington Management Group LLP now owns 13,301,215 shares of the company’s stock valued at $853,805,000 after buying an additional 10,757,914 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Centene by 12.4% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,517,580 shares of the company’s stock worth $354,173,000 after buying an additional 608,249 shares during the last quarter. Bank of America Corp DE purchased a new stake in Centene during the second quarter valued at about $285,713,000. Finally, Deutsche Bank AG acquired a new stake in Centene during the second quarter worth about $257,279,000. Institutional investors and hedge funds own 93.63% of the company’s stock.

Centene Stock Down 1.2%

Shares of Centene stock traded down $0.74 during trading on Thursday, reaching $61.38. The company had a trading volume of 1,484,372 shares, compared to its average volume of 5,706,535. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.15 and a current ratio of 1.15. Centene Corporation has a fifty-two week low of $31.63 and a fifty-two week high of $69.63. The firm’s fifty day moving average is $64.83 and its 200-day moving average is $57.14. The company has a market cap of $30.32 billion, a price-to-earnings ratio of -5.87, a price-to-earnings-growth ratio of 0.39 and a beta of 1.10.

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Argus raised shares of Centene from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a research report on Tuesday, August 11th. Zacks Research upgraded shares of Centene from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 29th. Sanford C. Bernstein reissued an “outperform” rating and issued a $79.00 target price (up from $68.00) on shares of Centene in a research note on Monday, August 3rd. Bank of America boosted their target price on shares of Centene from $72.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. Finally, Royal Bank Of Canada lifted their price objective on Centene from $70.00 to $71.00 and gave the stock a “sector perform” rating in a report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $70.05.

Insider Activity

In related news, General Counsel Christopher Koster sold 56,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $66.90, for a total transaction of $3,779,850.00. Following the sale, the general counsel directly 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 legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.37% of the company’s stock.

Centene Profile

Centene Corporation (NYSE:CNC) is a healthcare enterprise that provides health insurance and related services, primarily through government-sponsored programs. Its offerings include Medicaid plans, Medicare products, health plans sold through the Affordable Care Act marketplace, and services for military families through government-sponsored healthcare programs.

The company also provides pharmacy, behavioral health, specialty healthcare, care management and administrative services through various subsidiaries and partner organizations.