Modera Wealth Management LLC increased its stake in shares of Centene Corporation (NYSE:CNC) by 1.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,086 shares of the company’s stock after buying an additional 51 shares during the quarter. Modera Wealth Management LLC’s holdings in Centene Corporation were worth $406,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in CNC. Bronfman E.L. Rothschild L.P. lifted its position in shares of Centene Corporation by 5.9% during the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 1,662 shares of the company’s stock valued at $118,000 after buying an additional 93 shares during the last quarter. Seven Bridges Advisors LLC purchased a new stake in Centene Corporation during the 2nd quarter worth about $123,000. IFP Advisors Inc lifted its holdings in Centene Corporation by 9.6% during the 2nd quarter. IFP Advisors Inc now owns 1,944 shares of the company’s stock worth $155,000 after purchasing an additional 170 shares in the last quarter. MV Capital Management Inc. purchased a new stake in Centene Corporation during the 2nd quarter worth about $186,000. Finally, Holderness Investments Co. purchased a new stake in Centene Corporation during the 1st quarter worth about $211,000. Hedge funds and other institutional investors own 92.26% of the company’s stock.
Centene Corporation (CNC) traded up 1.05% during trading on Friday, reaching $96.93. The company had a trading volume of 490,753 shares. The stock has a 50 day moving average price of $85.55 and a 200 day moving average price of $77.84. Centene Corporation has a 52 week low of $50.00 and a 52 week high of $98.72. The firm has a market capitalization of $16.72 billion, a P/E ratio of 21.27 and a beta of 0.63.
Centene Corporation (NYSE:CNC) last announced its quarterly earnings data on Tuesday, July 25th. The company reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.29. The business had revenue of $11.95 billion for the quarter, compared to the consensus estimate of $11.69 billion. Centene Corporation had a net margin of 1.72% and a return on equity of 14.62%. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.29 earnings per share. Analysts predict that Centene Corporation will post $4.92 earnings per share for the current year.
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Several equities analysts have recently commented on the company. Cowen and Company restated an “outperform” rating and set a $105.00 price target (up from $77.00) on shares of Centene Corporation in a research report on Wednesday. Deutsche Bank AG reiterated a “buy” rating and issued a $111.00 price objective (up previously from $95.00) on shares of Centene Corporation in a report on Thursday. Morgan Stanley initiated coverage on Centene Corporation in a research note on Tuesday, June 6th. They issued an “overweight” rating and a $86.00 target price for the company. Citigroup Inc. raised their target price on Centene Corporation from $80.00 to $89.00 and gave the company a “sell” rating in a research note on Wednesday, July 26th. Finally, Leerink Swann restated a “market perform” rating and issued a $90.00 target price (up previously from $78.00) on shares of Centene Corporation in a research note on Wednesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $91.65.
In other news, Director Robert K. Ditmore sold 4,167 shares of the firm’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $82.59, for a total value of $344,152.53. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Christopher D. Bowers sold 4,000 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $79.43, for a total transaction of $317,720.00. The disclosure for this sale can be found here. In the last three months, insiders sold 43,167 shares of company stock worth $3,470,973. Insiders own 3.00% of the company’s stock.
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.
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