Hara Capital LLC Invests $5.22 Million in Centene Corporation $CNC

Hara Capital LLC acquired a new stake in shares of Centene Corporation (NYSE:CNC) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 81,352 shares of the company’s stock, valued at approximately $5,222,000. Centene comprises 2.8% of Hara Capital LLC’s investment portfolio, making the stock its 5th largest holding.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Baird Financial Group Inc. acquired a new stake in Centene in the first quarter worth about $236,000. Sivia Capital Partners LLC increased its holdings in shares of Centene by 80.0% during the second quarter. Sivia Capital Partners LLC now owns 9,710 shares of the company’s stock valued at $527,000 after acquiring an additional 4,315 shares in the last quarter. CW Advisors LLC raised its position in shares of Centene by 20.3% in the 2nd quarter. CW Advisors LLC now owns 4,863 shares of the company’s stock valued at $264,000 after purchasing an additional 820 shares during the last quarter. NewEdge Advisors LLC boosted its stake in Centene by 6.1% in the 2nd quarter. NewEdge Advisors LLC now owns 44,945 shares of the company’s stock worth $2,440,000 after purchasing an additional 2,582 shares in the last quarter. Finally, Treasurer of the State of North Carolina grew its position in Centene by 0.4% during the 2nd quarter. Treasurer of the State of North Carolina now owns 231,938 shares of the company’s stock worth $12,590,000 after purchasing an additional 967 shares during the last quarter. 93.63% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Centene

In other Centene news, General Counsel Christopher Koster sold 47,603 shares of Centene stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $65.36, for a total transaction of $3,111,332.08. Following the completion of the transaction, the general counsel owned 305,354 shares in the company, valued at approximately $19,957,937.44. This trade represents a 13.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.37% of the company’s stock.

Analyst Ratings Changes

CNC has been the subject of a number of research analyst reports. Royal Bank Of Canada raised their price target on shares of Centene from $70.00 to $71.00 and gave the stock a “sector perform” rating in a report on Thursday, July 9th. JPMorgan Chase & Co. upped their target price on Centene from $60.00 to $67.00 and gave the company a “neutral” rating in a research report on Tuesday, August 4th. Raymond James Financial set a $75.00 target price on Centene in a research note on Tuesday, July 7th. Robert W. Baird lifted their price target on Centene from $46.00 to $66.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Finally, The Goldman Sachs Group reissued a “sell” rating and issued a $40.00 price objective on shares of Centene in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Centene presently has a consensus rating of “Hold” and a consensus target price of $70.05.

Centene Stock Down 0.7%

CNC stock opened at $64.24 on Friday. The company has a market capitalization of $31.73 billion, a P/E ratio of -6.15, a price-to-earnings-growth ratio of 0.35 and a beta of 1.08. Centene Corporation has a 12 month low of $28.24 and a 12 month high of $69.36. The firm’s fifty day simple moving average is $64.96 and its 200-day simple moving average is $52.31. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.15 and a quick ratio of 1.15.

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

Centene Company Profile

Centene Corporation (NYSE: CNC) is a diversified, multi-national healthcare enterprise that specializes in providing services to government-sponsored and national health programs. The company primarily acts as a managed care organization, delivering healthcare coverage and administering benefits for Medicaid, the Children’s Health Insurance Program (CHIP), Medicare Advantage, and individual marketplace plans. Centene also contracts with federal and state agencies to manage specialty care programs and community-based services for vulnerable populations.

Centene’s offerings extend beyond traditional insurance to include a range of specialty and support services.