GAM Holding AG lowered its position in shares of Centene Corp (NYSE:CNC) by 34.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,298 shares of the company’s stock after selling 4,443 shares during the quarter. GAM Holding AG’s holdings in Centene were worth $1,202,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. FNY Investment Advisers LLC bought a new position in shares of Centene during the third quarter valued at $106,000. Fort L.P. bought a new position in shares of Centene during the second quarter valued at $122,000. TRUE Private Wealth Advisors bought a new position in shares of Centene during the third quarter valued at $173,000. Wetherby Asset Management Inc. bought a new stake in Centene in the 3rd quarter worth about $200,000. Finally, We Are One Seven LLC bought a new stake in Centene in the 3rd quarter worth about $209,000. Hedge funds and other institutional investors own 88.88% of the company’s stock.
Several equities research analysts recently commented on CNC shares. Mitsubishi UFJ Financial Group started coverage on Centene in a report on Wednesday, September 19th. They issued an “overweight” rating and a $170.00 price objective for the company. Zacks Investment Research downgraded Centene from a “hold” rating to a “sell” rating in a report on Tuesday, September 25th. Morgan Stanley lifted their price objective on Centene from $138.00 to $175.00 and gave the stock an “overweight” rating in a report on Wednesday, September 5th. Oppenheimer lifted their price objective on Centene from $146.00 to $158.00 and gave the stock an “outperform” rating in a report on Tuesday, October 2nd. Finally, MED lifted their price objective on Centene from $146.00 to $158.00 and gave the stock an “outperform” rating in a report on Tuesday, October 2nd. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $151.67.
In other Centene news, Director Robert K. Ditmore sold 15,000 shares of the business’s stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $145.06, for a total transaction of $2,175,900.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Keith H. Williamson sold 2,000 shares of the business’s stock in a transaction dated Friday, September 28th. The shares were sold at an average price of $145.00, for a total value of $290,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,800 shares of company stock valued at $4,957,590. Corporate insiders own 3.00% of the company’s stock.
Centene stock opened at $133.22 on Friday. The stock has a market cap of $27.81 billion, a price-to-earnings ratio of 26.49, a PEG ratio of 1.28 and a beta of 1.06. Centene Corp has a 52-week low of $94.69 and a 52-week high of $148.98. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.59.
Centene (NYSE:CNC) last released 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 return on equity of 14.42% and a net margin of 1.58%. The business’s quarterly revenue was up 36.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.35 EPS. On average, sell-side analysts expect that Centene Corp will post 7.05 earnings per share for the current fiscal year.
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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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