Insider Selling: Centene Corp (CNC) Director Sells 15,000 Shares of Stock

Centene Corp (NYSE:CNC) Director Robert K. Ditmore sold 15,000 shares of Centene stock in a transaction dated Thursday, October 25th. The stock was sold at an average price of $129.24, for a total value of $1,938,600.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Robert K. Ditmore also recently made the following trade(s):

  • On Monday, September 10th, Robert K. Ditmore sold 15,000 shares of Centene stock. The stock was sold at an average price of $145.06, for a total value of $2,175,900.00.

Shares of NYSE:CNC opened at $128.15 on Wednesday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.59. Centene Corp has a 12-month low of $90.07 and a 12-month high of $148.24. The stock has a market capitalization of $26.13 billion, a price-to-earnings ratio of 25.48, a price-to-earnings-growth ratio of 1.20 and a beta of 0.82.

Centene (NYSE:CNC) last issued its quarterly earnings results on Tuesday, October 23rd. The company reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.02. Centene had a return on equity of 14.42% and a net margin of 1.58%. The firm had revenue of $16.18 billion for the quarter, compared to analyst estimates of $15.93 billion. During the same period last year, the company earned $1.35 EPS. The firm’s quarterly revenue was up 36.0% on a year-over-year basis. Sell-side analysts expect that Centene Corp will post 7.05 earnings per share for the current year.

A number of analysts recently commented on the company. Barclays assumed coverage on Centene in a research report on Monday, July 23rd. They set an “overweight” rating and a $158.00 price objective for the company. MED reiterated an “outperform” rating and set a $146.00 price objective (up previously from $138.00) on shares of Centene in a research report on Wednesday, July 25th. Credit Suisse Group lifted their price objective on Centene from $134.00 to $152.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 4th. Citigroup reiterated a “neutral” rating and set a $147.00 price objective on shares of Centene in a research report on Wednesday, July 18th. Finally, Morgan Stanley lifted their price objective on Centene from $136.00 to $138.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 25th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $151.67.

A number of large investors have recently modified their holdings of the business. FNY Investment Advisers LLC acquired a new position in shares of Centene in the 3rd quarter valued at about $106,000. Fort L.P. acquired a new position in shares of Centene in the 2nd quarter valued at about $122,000. IMA Wealth Inc. acquired a new position in shares of Centene in the 2nd quarter valued at about $124,000. TRUE Private Wealth Advisors acquired a new position in shares of Centene in the 3rd quarter valued at about $173,000. Finally, Steward Partners Investment Advisory LLC lifted its stake in shares of Centene by 127.2% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,254 shares of the company’s stock valued at $155,000 after purchasing an additional 702 shares in the last quarter. 89.98% of the stock is currently owned by hedge funds and other institutional investors.

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

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