Centene Co. (NYSE:CNC) Shares Sold by Lincluden Management Ltd.

Lincluden Management Ltd. trimmed its holdings in Centene Co. (NYSE:CNC) by 7.4% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 99,922 shares of the company’s stock after selling 8,038 shares during the period. Centene accounts for approximately 0.7% of Lincluden Management Ltd.’s portfolio, making the stock its 27th largest position. Lincluden Management Ltd.’s holdings in Centene were worth $7,287,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Sigma Planning Corp purchased a new position in Centene in the 1st quarter valued at $228,000. Sowell Financial Services LLC grew its holdings in Centene by 695.5% during the first quarter. Sowell Financial Services LLC now owns 2,665 shares of the company’s stock worth $174,000 after acquiring an additional 2,330 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in Centene by 6.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 40,702 shares of the company’s stock valued at $2,601,000 after acquiring an additional 2,538 shares during the period. MAI Capital Management increased its holdings in shares of Centene by 15.5% in the 1st quarter. MAI Capital Management now owns 8,069 shares of the company’s stock valued at $516,000 after purchasing an additional 1,084 shares in the last quarter. Finally, Rafferty Asset Management LLC boosted its position in Centene by 14.2% during the first quarter. Rafferty Asset Management LLC now owns 11,367 shares of the company’s stock worth $726,000 after purchasing an additional 1,417 shares in the last quarter. Hedge funds and other institutional investors own 91.75% of the company’s stock.

In related news, Director Orlando Ayala sold 9,366 shares of Centene stock in a transaction that occurred on Thursday, July 29th. The stock was sold at an average price of $70.00, for a total value of $655,620.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Brent D. Layton sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 29th. The stock was sold at an average price of $70.00, for a total transaction of $280,000.00. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.

Several equities analysts have weighed in on the company. Cowen started coverage on Centene in a research report on Thursday, September 9th. They set an “outperform” rating and a $87.00 price target for the company. BMO Capital Markets raised their price target on shares of Centene from $88.00 to $93.00 and gave the stock an “outperform” rating in a research note on Thursday, June 17th. They noted that the move was a valuation call. Wells Fargo & Company cut their price objective on shares of Centene from $93.00 to $88.00 and set an “overweight” rating for the company in a research report on Tuesday, August 3rd. Citigroup raised their target price on shares of Centene from $80.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, June 17th. Finally, Oppenheimer reiterated a “buy” rating and issued a $90.00 target price on shares of Centene in a research note on Thursday, June 17th. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, Centene currently has a consensus rating of “Buy” and a consensus target price of $81.78.

Shares of Centene stock traded up $1.67 during mid-day trading on Monday, reaching $64.49. 28,078 shares of the stock were exchanged, compared to its average volume of 3,772,807. The company has a market cap of $37.60 billion, a price-to-earnings ratio of 51.49, a price-to-earnings-growth ratio of 1.01 and a beta of 0.46. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.63. Centene Co. has a fifty-two week low of $54.00 and a fifty-two week high of $75.59. The firm has a 50-day simple moving average of $65.55 and a 200 day simple moving average of $67.42.

Centene (NYSE:CNC) last issued its quarterly earnings results on Monday, July 26th. The company reported $1.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.41 by ($0.16). Centene had a net margin of 0.61% and a return on equity of 10.39%. The firm had revenue of $31.03 billion for the quarter, compared to analyst estimates of $30.11 billion. During the same period last year, the company earned $2.40 EPS. The company’s revenue was up 12.0% compared to the same quarter last year. On average, research analysts predict that Centene Co. will post 5.14 EPS for the current fiscal year.

Centene Company Profile

Centene Corp. operates as a healthcare enterprise, which engages in the provision of programs and services to government sponsored healthcare programs. It operates through the following segments: Managed Care and Specialty Services. The Medicaid Managed Care segment provides health plan coverage to individuals through government subsidized programs through Medicaid.

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Institutional Ownership by Quarter for Centene (NYSE:CNC)

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