27,222 Shares in Centene Corporation $CNC Purchased by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp purchased a new stake in shares of Centene Corporation (NYSE:CNC) in the 2nd quarter, Holdings Channel reports. The fund purchased 27,222 shares of the company’s stock, valued at approximately $1,747,000.

Several other hedge funds also recently modified their holdings of the company. DV Equities LLC acquired a new position in shares of Centene in the 4th quarter worth approximately $26,000. IFC & Insurance Marketing Inc. acquired a new stake in Centene during the 4th quarter valued at $28,000. SBI Securities Co. Ltd. raised its position in Centene by 118.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 749 shares of the company’s stock valued at $31,000 after purchasing an additional 406 shares during the last quarter. MidFirst Bank bought a new stake in shares of Centene during the second quarter worth $32,000. Finally, Bayban acquired a new stake in shares of Centene in the fourth quarter valued at $33,000. Institutional investors and hedge funds own 93.63% of the company’s stock.

Centene Stock Performance

CNC stock opened at $65.35 on Thursday. Centene Corporation has a 1-year low of $28.24 and a 1-year high of $69.36. The business’s 50-day moving average price is $65.17 and its two-hundred day moving average price is $52.98. The firm has a market cap of $32.28 billion, a PE ratio of -6.26, a P/E/G ratio of 0.35 and a beta of 1.08. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.71.

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CNC shares. Royal Bank Of Canada boosted their target price on shares of Centene from $70.00 to $71.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 9th. Barclays reissued an “overweight” rating and issued a $80.00 price target (up from $75.00) on shares of Centene in a report on Wednesday, July 29th. Zacks Research raised Centene from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 29th. Robert W. Baird lifted their target price on Centene from $46.00 to $66.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Finally, Bank of America boosted their price objective on Centene from $72.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Centene presently has a consensus rating of “Hold” and an average price target of $70.05.

Insiders Place Their Bets

In other news, General Counsel Christopher Koster sold 47,603 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The shares were 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 in the company, valued at $19,957,937.44. This represents a 13.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.37% of the company’s stock.

Centene 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.