State of Wisconsin Investment Board raised its position in shares of Centene Corporation (NYSE:CNC) by 21.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 261,504 shares of the company’s stock after acquiring an additional 47,056 shares during the period. State of Wisconsin Investment Board owned approximately 0.15% of Centene Corporation worth $25,306,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently bought and sold shares of the business. Chicago Equity Partners LLC bought a new position in Centene Corporation during the third quarter valued at $2,049,000. Old Mutual Global Investors UK Ltd. purchased a new stake in shares of Centene Corporation during the third quarter valued at $861,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of Centene Corporation by 4.7% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 34,427 shares of the company’s stock valued at $3,332,000 after purchasing an additional 1,540 shares during the period. Sapphire Star Partners LP purchased a new stake in shares of Centene Corporation during the third quarter valued at $756,000. Finally, State Board of Administration of Florida Retirement System boosted its stake in shares of Centene Corporation by 0.4% during the third quarter. State Board of Administration of Florida Retirement System now owns 248,425 shares of the company’s stock valued at $24,040,000 after purchasing an additional 1,000 shares during the period. Institutional investors and hedge funds own 92.88% of the company’s stock.
A number of brokerages have recently issued reports on CNC. Cantor Fitzgerald reissued a “buy” rating and set a $90.00 target price on shares of Centene Corporation in a research note on Tuesday, July 25th. Cowen and Company reissued an “outperform” rating and set a $105.00 target price (up from $77.00) on shares of Centene Corporation in a research note on Wednesday, September 13th. Morgan Stanley reissued an “overweight” rating and set a $94.00 target price (up from $86.00) on shares of Centene Corporation in a research note on Wednesday, July 26th. Bank of America Corporation boosted their target price on shares of Centene Corporation from $93.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, July 14th. Finally, Zacks Investment Research lowered shares of Centene Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $97.53.
In other news, Director Robert K. Ditmore sold 4,167 shares of the company’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $90.42, for a total transaction of $376,780.14. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 3.00% of the company’s stock.
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Centene Corporation (NYSE CNC) opened at $93.28 on Friday. Centene Corporation has a fifty-two week low of $50.33 and a fifty-two week high of $98.71. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.71. The stock has a market cap of $16,074.57, a PE ratio of 17.74, a PEG ratio of 1.42 and a beta of 0.67.
Centene Corporation (NYSE:CNC) last posted its quarterly earnings data on Tuesday, October 24th. The company reported $1.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.11. Centene Corporation had a net margin of 1.81% and a return on equity of 14.79%. The firm had revenue of $11.90 billion for the quarter, compared to the consensus estimate of $11.75 billion. During the same quarter in the prior year, the company posted $1.12 earnings per share. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. sell-side analysts forecast that Centene Corporation will post 4.98 EPS for the current year.
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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