Oppenheimer Asset Management Inc. trimmed its stake in shares of Centene Corp (NYSE:CNC) by 46.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 63,598 shares of the company’s stock after selling 55,500 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Centene were worth $6,797,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Focused Wealth Management Inc grew its stake in Centene by 900.0% during the fourth quarter. Focused Wealth Management Inc now owns 1,000 shares of the company’s stock valued at $101,000 after acquiring an additional 900 shares in the last quarter. Financial Gravity Companies Inc. purchased a new position in shares of Centene in the 4th quarter worth $112,000. We Are One Seven LLC purchased a new position in shares of Centene in the 4th quarter worth $114,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Centene in the 4th quarter worth $131,000. Finally, Tower Research Capital LLC TRC purchased a new position in shares of Centene in the 4th quarter worth $145,000. 76.42% of the stock is owned by institutional investors.
CNC traded down $1.17 on Thursday, reaching $123.50. 2,219,930 shares of the company traded hands, compared to its average volume of 1,587,856. Centene Corp has a one year low of $77.83 and a one year high of $126.04. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $25.02 billion, a price-to-earnings ratio of 24.55, a PEG ratio of 1.18 and a beta of 0.76.
Centene (NYSE:CNC) last posted its quarterly earnings results on Tuesday, April 24th. The company reported $2.17 EPS for the quarter, beating the consensus estimate of $1.92 by $0.25. Centene had a net margin of 2.06% and a return on equity of 15.69%. The business had revenue of $13.19 billion during the quarter, compared to analyst estimates of $13.33 billion. During the same quarter in the previous year, the business posted $1.12 EPS. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. equities analysts anticipate that Centene Corp will post 7.05 earnings per share for the current fiscal year.
A number of equities analysts have commented on CNC shares. Cantor Fitzgerald reissued a “buy” rating and issued a $125.00 price objective on shares of Centene in a research note on Monday, April 2nd. Morgan Stanley lifted their price objective on shares of Centene from $126.00 to $127.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 25th. BMO Capital Markets reaffirmed a “buy” rating on shares of Centene in a research note on Monday, March 26th. Finally, Zacks Investment Research cut shares of Centene from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 10th. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Centene currently has an average rating of “Buy” and an average target price of $116.20.
In related news, EVP Keith H. Williamson sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, April 27th. The shares were sold at an average price of $110.00, for a total transaction of $110,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert K. Ditmore sold 8,750 shares of the business’s stock in a transaction that occurred on Thursday, April 26th. The stock was sold at an average price of $108.15, for a total transaction of $946,312.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 262,750 shares of company stock valued at $28,461,313. Company insiders own 3.00% of the company’s stock.
Centene Company Profile
Centene Corporation operates as a diversified and multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. It operates through two segments, Managed Care and Specialty Services. The Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term care, foster care, and dual eligible individual, as well as aged, blind, or disabled programs.
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