Rafferty Asset Management LLC Acquires 695 Shares of Centene Co. (NYSE:CNC)

Rafferty Asset Management LLC boosted its holdings in Centene Co. (NYSE:CNC) by 6.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,062 shares of the company’s stock after acquiring an additional 695 shares during the quarter. Rafferty Asset Management LLC’s holdings in Centene were worth $880,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Patriot Financial Group Insurance Agency LLC lifted its position in Centene by 166.7% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 400 shares of the company’s stock valued at $29,000 after acquiring an additional 250 shares in the last quarter. Summit Wealth Group LLC bought a new position in shares of Centene during the 1st quarter valued at $27,000. Van ECK Associates Corp bought a new position in shares of Centene during the 1st quarter valued at $28,000. Barrett Asset Management LLC lifted its holdings in shares of Centene by 800.0% during the 1st quarter. Barrett Asset Management LLC now owns 450 shares of the company’s stock valued at $29,000 after buying an additional 400 shares during the period. Finally, Jacobi Capital Management LLC lifted its holdings in shares of Centene by 228.0% during the 1st quarter. Jacobi Capital Management LLC now owns 469 shares of the company’s stock valued at $30,000 after buying an additional 326 shares during the period. 91.75% of the stock is currently owned by institutional investors and hedge funds.

Shares of CNC stock opened at $63.09 on Wednesday. Centene Co. has a 52-week low of $53.60 and a 52-week high of $75.59. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a market capitalization of $36.78 billion, a PE ratio of 51.71, a PEG ratio of 1.01 and a beta of 0.46. The stock has a fifty day simple moving average of $66.18 and a two-hundred day simple moving average of $67.39.

Centene (NYSE:CNC) last issued its quarterly earnings results on Monday, July 26th. The company reported $1.25 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.41 by ($0.16). The business had revenue of $31.03 billion during the quarter, compared to analysts’ expectations of $30.11 billion. Centene had a return on equity of 10.39% and a net margin of 0.61%. The company’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.40 EPS. On average, sell-side analysts forecast that Centene Co. will post 5.14 EPS for the current fiscal year.

In related news, EVP Brent D. Layton sold 4,000 shares of the stock in a transaction dated Thursday, July 29th. The shares were sold at an average price of $70.00, for a total value of $280,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Orlando Ayala sold 9,366 shares of the stock in a transaction dated Thursday, July 29th. The shares were sold at an average price of $70.00, for a total transaction of $655,620.00. The disclosure for this sale can be found here. Company insiders own 1.80% of the company’s stock.

Several equities analysts have recently weighed in on the company. Bank of America increased their price target on Centene from $75.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, June 8th. Roth Capital began coverage on Centene in a report on Tuesday, August 17th. They set a “buy” rating on the stock. TheStreet cut Centene from a “b-” rating to a “c+” rating in a report on Monday, August 16th. raised their target price on Centene from $80.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, June 17th. Finally, Credit Suisse Group decreased their target price on Centene from $73.50 to $70.00 and set a “neutral” rating on the stock in a report on Tuesday, September 14th. Five investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $81.89.

About Centene

Centene Corp. operates as a healthcare enterprise, which engages in the provision of programs and services to government sponsored healthcare programs. It operates through the following segments: Managed Care and Specialty Services. The Medicaid Managed Care segment provides health plan coverage to individuals through government subsidized programs through Medicaid.

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Institutional Ownership by Quarter for Centene (NYSE:CNC)

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