Centene Corp. (CNC) EVP Kenneth Rone Baldwin Sells 6,000 Shares
Centene Corp. (NYSE:CNC) EVP Kenneth Rone Baldwin sold 6,000 shares of Centene Corp. stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $66.58, for a total value of $399,480.00. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Shares of Centene Corp. (NYSE:CNC) opened at 61.90 on Thursday. The company has a market cap of $10.57 billion, a price-to-earnings ratio of 23.89 and a beta of 0.94. Centene Corp. has a 12 month low of $47.36 and a 12 month high of $75.57. The company’s 50-day moving average price is $67.54 and its 200-day moving average price is $65.81.
Centene Corp. (NYSE:CNC) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.20. Centene Corp. had a return on equity of 14.27% and a net margin of 1.19%. The business earned $10.90 billion during the quarter, compared to analyst estimates of $10.80 billion. During the same period in the prior year, the company earned $0.72 earnings per share. Centene Corp.’s revenue was up 97.9% compared to the same quarter last year. Analysts anticipate that Centene Corp. will post $4.37 EPS for the current year.
A number of institutional investors have recently made changes to their positions in CNC. Aperio Group LLC raised its position in shares of Centene Corp. by 106.0% in the first quarter. Aperio Group LLC now owns 38,644 shares of the company’s stock valued at $2,379,000 after buying an additional 19,886 shares during the period. IFP Advisors Inc raised its position in shares of Centene Corp. by 6.9% in the first quarter. IFP Advisors Inc now owns 1,960 shares of the company’s stock valued at $121,000 after buying an additional 127 shares during the period. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Centene Corp. during the first quarter valued at $481,000. Ngam Advisors L.P. raised its position in shares of Centene Corp. by 19.0% in the first quarter. Ngam Advisors L.P. now owns 37,412 shares of the company’s stock valued at $2,303,000 after buying an additional 5,976 shares during the period. Finally, TIAA CREF Investment Management LLC raised its position in shares of Centene Corp. by 11.5% in the first quarter. TIAA CREF Investment Management LLC now owns 1,796,776 shares of the company’s stock valued at $110,628,000 after buying an additional 185,181 shares during the period. 92.92% of the stock is owned by institutional investors and hedge funds.
Several research firms recently weighed in on CNC. Leerink Swann reissued a “hold” rating on shares of Centene Corp. in a report on Tuesday. Vetr raised Centene Corp. from a “buy” rating to a “strong-buy” rating and set a $78.50 price target for the company in a report on Monday, June 27th. Jefferies Group reissued a “buy” rating and set a $80.00 price target on shares of Centene Corp. in a report on Wednesday, June 8th. Wedbush reaffirmed an “outperform” rating and issued a $85.00 price objective on shares of Centene Corp. in a report on Wednesday, September 7th. Finally, Credit Suisse Group AG dropped their price objective on Centene Corp. from $78.00 to $76.00 and set an “outperform” rating for the company in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Centene Corp. presently has a consensus rating of “Buy” and a consensus target price of $80.76.
About Centene Corp.
Centene Corporation is a diversified healthcare company that provides programs and services to government sponsored healthcare programs. The Company also provides education and outreach programs to inform and assist members in accessing appropriate healthcare services. The Company operates through two segments.
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