Seven Bridges Advisors LLC Invests $123,000 in Centene Corporation (NYSE:CNC)
Seven Bridges Advisors LLC bought a new stake in Centene Corporation (NYSE:CNC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,542 shares of the company’s stock, valued at approximately $123,000.
Other institutional investors have also bought and sold shares of the company. Honkamp Krueger Financial Services Inc. acquired a new position in Centene Corporation during the first quarter valued at approximately $222,000. CrestPoint Capital Management LLC boosted its position in Centene Corporation by 6.9% in the first quarter. CrestPoint Capital Management LLC now owns 12,400 shares of the company’s stock worth $884,000 after buying an additional 800 shares during the last quarter. Bank of Montreal Can boosted its position in Centene Corporation by 89.1% in the first quarter. Bank of Montreal Can now owns 165,864 shares of the company’s stock worth $11,820,000 after buying an additional 78,140 shares during the last quarter. Murphy Capital Management Inc. purchased a new position in Centene Corporation during the first quarter worth about $310,000. Finally, National Pension Service boosted its position in Centene Corporation by 1.3% in the first quarter. National Pension Service now owns 159,239 shares of the company’s stock worth $11,489,000 after buying an additional 2,015 shares during the last quarter. Institutional investors and hedge funds own 93.61% of the company’s stock.
Shares of Centene Corporation (NYSE:CNC) opened at 82.73 on Thursday. The firm’s 50-day moving average price is $82.22 and its 200 day moving average price is $74.31. The stock has a market capitalization of $14.27 billion, a P/E ratio of 18.15 and a beta of 0.66. Centene Corporation has a 52 week low of $50.00 and a 52 week high of $87.94.
Centene Corporation (NYSE:CNC) last released its quarterly earnings results on Tuesday, July 25th. The company reported $1.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.30 by $0.29. Centene Corporation had a net margin of 1.72% and a return on equity of 14.62%. The business had revenue of $11.95 billion for the quarter, compared to analyst estimates of $11.69 billion. During the same period in the previous year, the company earned $1.29 earnings per share. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. Analysts expect that Centene Corporation will post $4.92 earnings per share for the current year.
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A number of equities analysts have recently issued reports on CNC shares. Bank of America Corporation upped their price objective on Centene Corporation from $93.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, July 14th. Jefferies Group LLC reiterated a “buy” rating and issued a $85.00 price objective (up from $83.00) on shares of Centene Corporation in a report on Saturday, April 29th. ValuEngine upgraded Centene Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 27th. BidaskClub cut Centene Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Finally, Zacks Investment Research upgraded Centene Corporation from a “hold” rating to a “buy” rating and set a $82.00 price objective for the company in a report on Thursday, April 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $86.82.
In other Centene Corporation news, Director Robert K. Ditmore sold 3,900 shares of Centene Corporation stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $75.43, for a total value of $294,177.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Christopher D. Bowers sold 4,000 shares of Centene Corporation stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $79.43, for a total transaction of $317,720.00. The disclosure for this sale can be found here. Insiders sold 53,578 shares of company stock worth $4,264,757 over the last ninety days. Corporate insiders own 3.00% of the company’s stock.
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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