Advisory Research Inc. lowered its stake in shares of Centene Corp (NYSE:CNC) by 66.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,782 shares of the company’s stock after selling 9,600 shares during the quarter. Advisory Research Inc.’s holdings in Centene were worth $482,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. bought a new position in Centene in the 4th quarter valued at $131,000. SeaCrest Wealth Management LLC bought a new position in Centene in the 4th quarter valued at $188,000. Baldwin Brothers Inc. MA bought a new position in Centene in the 3rd quarter valued at $185,000. Calamos Advisors LLC bought a new position in Centene in the 3rd quarter valued at $207,000. Finally, Commerzbank Aktiengesellschaft FI bought a new position in Centene in the 3rd quarter valued at $207,000. Institutional investors and hedge funds own 90.53% of the company’s stock.
A number of research analysts have issued reports on CNC shares. Zacks Investment Research upgraded Centene from a “hold” rating to a “strong-buy” rating and set a $117.00 price objective for the company in a research note on Tuesday, December 26th. Oppenheimer upped their price objective on Centene from $111.00 to $122.00 and gave the company an “outperform” rating in a research note on Wednesday, December 20th. Jefferies Group upped their price objective on Centene from $112.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, December 18th. Piper Jaffray Companies restated a “buy” rating and issued a $134.00 price objective on shares of Centene in a research note on Monday, December 18th. Finally, ValuEngine upgraded Centene from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Three investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $110.28.
Centene (NYSE:CNC) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. The firm had revenue of $12.81 billion for the quarter, compared to analysts’ expectations of $12.25 billion. Centene had a return on equity of 13.68% and a net margin of 1.71%. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.19 EPS. research analysts forecast that Centene Corp will post 7.2 earnings per share for the current fiscal year.
In related news, Director Robert K. Ditmore sold 8,750 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $104.13, for a total transaction of $911,137.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Christopher D. Bowers sold 4,800 shares of the stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $102.27, for a total value of $490,896.00. The disclosure for this sale can be found here. Insiders have sold a total of 37,300 shares of company stock worth $3,802,509 in the last three months. 3.00% of the stock is currently owned by insiders.
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Centene Corporation is a healthcare company. The Company provides a portfolio of services to government sponsored healthcare programs, focusing on under-insured and uninsured individuals. The Company operates through two segments: Managed Care and Specialty Services. The Company’s Managed Care segment provides health plan coverage to individuals, through government subsidized programs, including Medicaid, the State Children’s Health Insurance Program (CHIP), Long Term Care, Foster Care, dual-eligible individuals (Duals) and the Supplemental Security Income Program, also known as the Aged, Blind or Disabled Program (ABD), Medicare, and Health Insurance Marketplace.
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