Insider Selling: Centene Corp (CNC) EVP Sells $553,090.00 in Stock

Centene Corp (NYSE:CNC) EVP Christopher D. Bowers sold 3,800 shares of the stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $145.55, for a total transaction of $553,090.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

NYSE CNC opened at $145.24 on Friday. The company has a market capitalization of $29.61 billion, a price-to-earnings ratio of 22.94, a P/E/G ratio of 1.39 and a beta of 0.85. Centene Corp has a fifty-two week low of $83.56 and a fifty-two week high of $148.24. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.25 and a quick ratio of 1.26.

Centene (NYSE:CNC) last released its earnings results on Tuesday, July 24th. The company reported $1.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.77 by $0.03. The company had revenue of $14.18 billion during the quarter, compared to analysts’ expectations of $13.82 billion. Centene had a return on equity of 14.57% and a net margin of 2.06%. The business’s revenue was up 18.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.59 EPS. sell-side analysts forecast that Centene Corp will post 7.08 earnings per share for the current fiscal year.

A number of analysts recently issued reports on CNC shares. Zacks Investment Research downgraded shares of Centene from a “buy” rating to a “hold” rating in a research report on Wednesday, August 1st. MED restated an “outperform” rating and issued a $146.00 price target (up previously from $138.00) on shares of Centene in a report on Wednesday, July 25th. Bank of America upped their price target on Centene from $145.00 to $158.00 and gave the stock a “buy” rating in a report on Tuesday, July 24th. Morgan Stanley upped their price target on Centene from $127.00 to $136.00 and gave the stock an “overweight” rating in a report on Friday, July 13th. Finally, Credit Suisse Group upped their price target on Centene from $134.00 to $152.00 and gave the stock a “neutral” rating in a report on Tuesday, September 4th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $144.38.

Several institutional investors have recently added to or reduced their stakes in CNC. Financial Gravity Wealth Inc. purchased a new position in shares of Centene during the 1st quarter valued at approximately $114,000. Fort L.P. purchased a new position in shares of Centene during the 2nd quarter valued at approximately $122,000. IMA Wealth Inc. purchased a new position in shares of Centene during the 2nd quarter valued at approximately $124,000. Steward Partners Investment Advisory LLC boosted its stake in shares of Centene by 127.2% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,254 shares of the company’s stock valued at $155,000 after buying an additional 702 shares during the last quarter. Finally, Cornerstone Wealth Management LLC purchased a new position in shares of Centene during the 2nd quarter valued at approximately $157,000. Institutional investors own 90.07% of the company’s stock.

About Centene

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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Insider Buying and Selling by Quarter for Centene (NYSE:CNC)

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