Centene (NYSE:CNC) General Counsel Sells $3,111,332.08 in Stock

Centene Corporation (NYSE:CNC) General Counsel Christopher Koster sold 47,603 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $65.36, for a total value of $3,111,332.08. Following the completion of the transaction, the general counsel owned 305,354 shares of the company’s stock, valued at approximately $19,957,937.44. The trade was a 13.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Centene Price Performance

Shares of NYSE:CNC opened at $64.94 on Friday. Centene Corporation has a twelve month low of $28.24 and a twelve month high of $69.36. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.71. The company has a market cap of $32.08 billion, a PE ratio of -6.22, a price-to-earnings-growth ratio of 0.34 and a beta of 1.08. The company’s 50 day moving average is $64.96 and its 200 day moving average is $52.40.

Centene (NYSE:CNC) last announced its quarterly earnings data on Monday, July 27th. The company reported $2.51 EPS for the quarter, beating the consensus estimate of $1.09 by $1.42. The business had revenue of $53.58 billion during the quarter, compared to analysts’ expectations of $47.64 billion. Centene had a negative net margin of 2.51% and a positive return on equity of 12.12%. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.16) EPS. On average, sell-side analysts forecast that Centene Corporation will post 4.89 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CNC. Baird Financial Group Inc. acquired a new position in shares of Centene in the first quarter worth about $236,000. Sivia Capital Partners LLC grew its position in shares of Centene by 80.0% during the 2nd quarter. Sivia Capital Partners LLC now owns 9,710 shares of the company’s stock valued at $527,000 after acquiring an additional 4,315 shares during the period. CW Advisors LLC increased its stake in shares of Centene by 20.3% in the 2nd quarter. CW Advisors LLC now owns 4,863 shares of the company’s stock valued at $264,000 after purchasing an additional 820 shares in the last quarter. NewEdge Advisors LLC raised its holdings in Centene by 6.1% in the 2nd quarter. NewEdge Advisors LLC now owns 44,945 shares of the company’s stock worth $2,440,000 after purchasing an additional 2,582 shares during the period. Finally, Treasurer of the State of North Carolina boosted its position in Centene by 0.4% during the second quarter. Treasurer of the State of North Carolina now owns 231,938 shares of the company’s stock worth $12,590,000 after purchasing an additional 967 shares in the last quarter. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Raymond James Financial set a $75.00 price target on shares of Centene in a report on Tuesday, July 7th. Jefferies Financial Group lifted their price objective on Centene from $39.00 to $48.00 and gave the company a “hold” rating in a research note on Wednesday, April 29th. Morgan Stanley set a $66.00 target price on Centene in a research note on Wednesday, July 29th. Cantor Fitzgerald raised their target price on Centene from $60.00 to $75.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Finally, The Goldman Sachs Group reiterated a “sell” rating and set a $40.00 price target on shares of Centene in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Centene presently has a consensus rating of “Hold” and an average target price of $70.05.

Centene Company Profile

Centene Corporation (NYSE: CNC) is a diversified, multi-national healthcare enterprise that specializes in providing services to government-sponsored and national health programs. The company primarily acts as a managed care organization, delivering healthcare coverage and administering benefits for Medicaid, the Children’s Health Insurance Program (CHIP), Medicare Advantage, and individual marketplace plans. Centene also contracts with federal and state agencies to manage specialty care programs and community-based services for vulnerable populations.

Centene’s offerings extend beyond traditional insurance to include a range of specialty and support services.