Centene Corp (NYSE:CNC) EVP Christopher D. Bowers sold 9,200 shares of the firm’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $65.01, for a total value of $598,092.00. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Shares of NYSE CNC opened at $63.51 on Friday. Centene Corp has a twelve month low of $49.26 and a twelve month high of $74.49. The company has a quick ratio of 1.03, a current ratio of 1.00 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $26.97 billion, a PE ratio of 17.94, a PEG ratio of 1.16 and a beta of 1.32.
Centene (NYSE:CNC) last issued its quarterly earnings results on Tuesday, February 5th. The company reported $1.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.05. Centene had a return on equity of 14.10% and a net margin of 1.50%. The business had revenue of $16.56 billion during the quarter, compared to the consensus estimate of $16.38 billion. During the same period in the previous year, the business earned $0.49 EPS. The business’s quarterly revenue was up 29.3% on a year-over-year basis. On average, equities analysts forecast that Centene Corp will post 4.23 EPS for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of the company. HighPoint Advisor Group LLC increased its holdings in shares of Centene by 51.2% in the 4th quarter. HighPoint Advisor Group LLC now owns 16,852 shares of the company’s stock valued at $1,085,000 after acquiring an additional 5,707 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of Centene by 1,002.3% in the 4th quarter. Nordea Investment Management AB now owns 100,989 shares of the company’s stock valued at $11,643,000 after acquiring an additional 91,827 shares during the last quarter. Executive Wealth Management LLC bought a new stake in shares of Centene in the 4th quarter valued at approximately $1,309,000. Kresge Foundation bought a new stake in shares of Centene in the 4th quarter valued at approximately $4,991,000. Finally, Public Employees Retirement System of Ohio increased its holdings in shares of Centene by 5.9% in the 4th quarter. Public Employees Retirement System of Ohio now owns 85,746 shares of the company’s stock valued at $9,887,000 after acquiring an additional 4,781 shares during the last quarter. Institutional investors and hedge funds own 45.00% of the company’s stock.
CNC has been the topic of several analyst reports. Goldman Sachs Group downgraded Centene from a “conviction-buy” rating to a “buy” rating in a report on Monday, December 17th. Cantor Fitzgerald raised their target price on Centene from $72.50 to $82.50 and gave the company an “overweight” rating in a report on Monday, December 17th. Stephens initiated coverage on Centene in a report on Monday, January 14th. They set an “overweight” rating and a $73.50 target price on the stock. Oppenheimer dropped their target price on Centene from $165.00 to $83.00 and set an “outperform” rating on the stock in a report on Wednesday, February 6th. Finally, ValuEngine downgraded Centene from a “buy” rating to a “hold” rating in a report on Monday, December 17th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and fifteen have assigned a buy rating to the stock. Centene currently has a consensus rating of “Buy” and a consensus target price of $77.65.
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Centene Company Profile
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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