Ardevora Asset Management LLP acquired a new stake in shares of Centene Corporation (NYSE:CNC) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 443,000 shares of the company’s stock, valued at approximately $42,869,000. Centene Corporation makes up 1.3% of Ardevora Asset Management LLP’s portfolio, making the stock its 2nd largest position. Ardevora Asset Management LLP owned about 0.26% of Centene Corporation as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Ameriprise Financial Inc. increased its position in shares of Centene Corporation by 318.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 3,504,359 shares of the company’s stock valued at $279,882,000 after purchasing an additional 2,667,189 shares during the last quarter. AJO LP purchased a new stake in shares of Centene Corporation during the 2nd quarter valued at $100,314,000. Vanguard Group Inc. increased its position in shares of Centene Corporation by 4.9% during the 2nd quarter. Vanguard Group Inc. now owns 16,726,500 shares of the company’s stock valued at $1,336,113,000 after purchasing an additional 774,474 shares during the last quarter. Numeric Investors LLC increased its position in shares of Centene Corporation by 270.1% during the 2nd quarter. Numeric Investors LLC now owns 1,001,500 shares of the company’s stock valued at $80,000,000 after purchasing an additional 730,900 shares during the last quarter. Finally, Wedge Capital Management L L P NC purchased a new stake in shares of Centene Corporation during the 2nd quarter valued at $41,189,000. Institutional investors and hedge funds own 93.43% of the company’s stock.
In other news, Director Robert K. Ditmore sold 4,167 shares of Centene Corporation stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $90.42, for a total transaction of $376,780.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.00% of the company’s stock.
Centene Corporation (NYSE CNC) traded up $0.68 during mid-day trading on Tuesday, reaching $94.36. The company’s stock had a trading volume of 1,528,000 shares, compared to its average volume of 1,709,465. The stock has a market cap of $16,166.03, a price-to-earnings ratio of 17.84, a PEG ratio of 1.43 and a beta of 0.67. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.71. Centene Corporation has a 1-year low of $51.21 and a 1-year high of $98.71.
Centene Corporation (NYSE:CNC) last issued its quarterly earnings results on Tuesday, October 24th. The company reported $1.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.11. The firm had revenue of $11.90 billion during the quarter, compared to the consensus estimate of $11.75 billion. Centene Corporation had a return on equity of 14.79% and a net margin of 1.81%. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter last year, the company posted $1.12 EPS. sell-side analysts expect that Centene Corporation will post 4.98 EPS for the current fiscal year.
Several equities research analysts have recently issued reports on the company. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and set a $111.00 target price on shares of Centene Corporation in a research report on Wednesday, November 8th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $105.00 target price on shares of Centene Corporation in a research report on Thursday, July 27th. Jefferies Group LLC reaffirmed a “buy” rating and set a $98.00 target price on shares of Centene Corporation in a research report on Thursday, July 27th. ValuEngine raised Centene Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 27th. Finally, Cantor Fitzgerald reissued a “buy” rating and issued a $90.00 price objective on shares of Centene Corporation in a report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seventeen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $97.53.
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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