Lucus Advisors LLC Takes Position in Centene Corporation (NYSE:CNC)

Lucus Advisors LLC purchased a new stake in shares of Centene Corporation (NYSE:CNC) during the first quarter, according to its most recent filing with the SEC. The firm purchased 5,682 shares of the company’s stock, valued at approximately $405,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Highbridge Capital Management LLC acquired a new stake in shares of Centene Corporation during the fourth quarter valued at about $29,313,000. BNP Paribas Arbitrage SA increased its stake in Centene Corporation by 213.5% in the first quarter. BNP Paribas Arbitrage SA now owns 685,347 shares of the company’s stock valued at $48,838,000 after buying an additional 466,768 shares during the last quarter. Raymond James Trust N.A. increased its stake in Centene Corporation by 3.2% in the first quarter. Raymond James Trust N.A. now owns 4,451 shares of the company’s stock valued at $318,000 after buying an additional 139 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in Centene Corporation during the first quarter valued at $409,000. Finally, Tyers Asset Management LLC increased its stake in shares of Centene Corporation by 434.4% in the first quarter. Tyers Asset Management LLC now owns 23,856 shares of the company’s stock valued at $1,700,000 after buying an additional 19,392 shares in the last quarter. 93.30% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Centene Corporation (NYSE:CNC) traded up 0.43% during midday trading on Tuesday, hitting $84.05. The stock had a trading volume of 868,557 shares. The company has a market cap of $14.48 billion, a price-to-earnings ratio of 20.69 and a beta of 0.67. Centene Corporation has a 52 week low of $50.00 and a 52 week high of $85.79. The stock’s 50-day moving average price is $77.26 and its 200 day moving average price is $69.76.

Centene Corporation (NYSE:CNC) last announced its quarterly earnings results on Tuesday, April 25th. The company reported $1.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.06. Centene Corporation had a net margin of 1.57% and a return on equity of 14.19%. The firm had revenue of $11.72 billion during the quarter, compared to the consensus estimate of $11.44 billion. During the same period last year, the firm earned $0.74 EPS. The business’s quarterly revenue was up 68.6% compared to the same quarter last year. On average, equities analysts forecast that Centene Corporation will post $4.80 earnings per share for the current year.

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A number of equities research analysts have commented on the company. Jefferies Group LLC reissued a “buy” rating and issued a $94.00 target price on shares of Centene Corporation in a report on Friday. Zacks Investment Research cut Centene Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. BidaskClub upgraded Centene Corporation from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 24th. ValuEngine cut Centene Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, June 13th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Centene Corporation in a research note on Tuesday, July 11th. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Centene Corporation has a consensus rating of “Buy” and an average price target of $81.74.

In other Centene Corporation news, Chairman Michael F. Neidorff sold 35,000 shares of the firm’s stock in a transaction dated Thursday, July 6th. The shares were sold at an average price of $80.26, for a total transaction of $2,809,100.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert K. Ditmore sold 4,167 shares of Centene Corporation stock in a transaction that occurred on Thursday, April 27th. The stock was sold at an average price of $72.43, for a total transaction of $301,815.81. The disclosure for this sale can be found here. Insiders have sold 57,728 shares of company stock worth $4,506,020 in the last three months. 3.00% of the stock is currently owned by insiders.

Centene Corporation Company Profile

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.

Institutional Ownership by Quarter for Centene Corporation (NYSE:CNC)

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