Centene Co. (NYSE:CNC) Holdings Decreased by Bellevue Group AG

Bellevue Group AG decreased its holdings in shares of Centene Co. (NYSE:CNC) by 17.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 363,100 shares of the company’s stock after selling 78,753 shares during the quarter. Bellevue Group AG owned 0.07% of Centene worth $28,496,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Hohimer Wealth Management LLC grew its holdings in shares of Centene by 1.1% during the fourth quarter. Hohimer Wealth Management LLC now owns 12,020 shares of the company’s stock valued at $892,000 after buying an additional 131 shares in the last quarter. EP Wealth Advisors LLC grew its holdings in shares of Centene by 1.0% during the first quarter. EP Wealth Advisors LLC now owns 13,604 shares of the company’s stock valued at $1,068,000 after buying an additional 133 shares in the last quarter. Sandy Spring Bank grew its stake in Centene by 10.1% in the fourth quarter. Sandy Spring Bank now owns 1,629 shares of the company’s stock valued at $121,000 after purchasing an additional 150 shares in the last quarter. Fidelis Capital Partners LLC grew its stake in Centene by 5.0% in the first quarter. Fidelis Capital Partners LLC now owns 3,316 shares of the company’s stock valued at $260,000 after purchasing an additional 158 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in Centene by 7.2% in the fourth quarter. Blue Trust Inc. now owns 2,454 shares of the company’s stock valued at $169,000 after purchasing an additional 164 shares in the last quarter. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Centene Price Performance

Shares of CNC stock traded up $5.70 during trading hours on Friday, hitting $73.10. The company had a trading volume of 9,686,551 shares, compared to its average volume of 4,092,040. Centene Co. has a 12 month low of $60.83 and a 12 month high of $81.42. The firm has a market capitalization of $39.01 billion, a price-to-earnings ratio of 14.53, a PEG ratio of 0.99 and a beta of 0.50. The firm’s fifty day moving average is $69.03 and its 200 day moving average is $73.70. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.17 and a current ratio of 1.17.

Centene (NYSE:CNC) last released its quarterly earnings data on Friday, July 26th. The company reported $2.42 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.02). The company had revenue of $39.84 billion during the quarter, compared to the consensus estimate of $36.83 billion. Centene had a net margin of 1.76% and a return on equity of 14.19%. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.10 earnings per share. On average, sell-side analysts predict that Centene Co. will post 6.8 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on CNC. Barclays boosted their target price on Centene from $101.00 to $104.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. JPMorgan Chase & Co. lowered their target price on Centene from $85.00 to $80.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Oppenheimer reaffirmed an “outperform” rating and issued a $110.00 price target on shares of Centene in a research report on Friday, June 21st. Baird R W raised Centene to a “hold” rating in a research report on Thursday, May 30th. Finally, Robert W. Baird began coverage on Centene in a research report on Thursday, May 30th. They issued a “neutral” rating and a $83.00 price target for the company. Nine analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $83.93.

Insider Buying and Selling

In related news, President Kenneth J. Fasola sold 8,000 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $77.62, for a total transaction of $620,960.00. Following the sale, the president now directly owns 300,357 shares in the company, valued at approximately $23,313,710.34. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Centene news, President Kenneth J. Fasola sold 8,000 shares of the company’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $77.62, for a total transaction of $620,960.00. Following the transaction, the president now owns 300,357 shares of the company’s stock, valued at approximately $23,313,710.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Christopher J. Coughlin sold 878 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $76.75, for a total value of $67,386.50. Following the transaction, the director now directly owns 25,504 shares in the company, valued at approximately $1,957,432. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.

Centene Company Profile

Centene Corporation operates as a healthcare enterprise that provides programs and services to under-insured and uninsured families, commercial organizations, and military families in the United States. The company operates through Medicaid, Medicare, Commercial, and Other segments. The Medicaid segment offers health plan coverage, including medicaid expansion, aged, blind, disabled, children's health insurance program, foster care, medicare-medicaid plans, long-term services and support.