Centene Corporation $CNC Stock Sold by Daytona Street Capital LLC

Daytona Street Capital LLC decreased its position in shares of Centene Corporation (NYSE:CNC) by 19.4% during the third quarter, according to its most recent filing with the SEC. The firm owned 41,516 shares of the company’s stock after selling 10,000 shares during the period. Centene comprises about 1.8% of Daytona Street Capital LLC’s holdings, making the stock its 13th largest holding. Daytona Street Capital LLC’s holdings in Centene were worth $2,635,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CNC. Silicon Valley Capital Partners bought a new stake in shares of Centene during the second quarter valued at approximately $25,000. North Point Portfolio Managers Corp OH purchased a new stake in Centene in the third quarter worth $25,000. Toth Financial Advisory Corp bought a new position in Centene in the third quarter worth $30,000. MidFirst Bank bought a new position in Centene in the second quarter worth $32,000. Finally, Fiduciary Financial Advisors purchased a new position in Centene during the second quarter valued at $34,000. Institutional investors own 93.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CNC shares. Zacks Research cut shares of Centene from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $79.00 target price (up from $68.00) on shares of Centene in a research report on Monday, August 3rd. HC Wainwright reiterated a “buy” rating on shares of Centene in a research note on Friday, September 11th. Truist Financial lifted their price target on shares of Centene from $71.00 to $78.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Finally, Wells Fargo & Company set a $69.00 price target on shares of Centene and gave the company an “equal weight” rating in a research report on Monday, July 13th. Nine equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $70.05.

Insider Activity

In other news, General Counsel Christopher Koster sold 56,500 shares of Centene stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $66.90, for a total value of $3,779,850.00. Following the completion of the sale, the general counsel directly owned 248,854 shares in the company, valued at $16,648,332.60. The trade was a 18.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.37% of the stock is currently owned by insiders.

Centene Trading Up 0.6%

Shares of NYSE:CNC opened at $70.62 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.15 and a quick ratio of 1.15. Centene Corporation has a 1 year low of $31.63 and a 1 year high of $71.01. The company has a market cap of $34.88 billion, a P/E ratio of -6.76, a PEG ratio of 0.44 and a beta of 1.13. The stock’s fifty day moving average price is $65.34 and its 200-day moving average price is $59.60.

Centene (NYSE:CNC) last released its quarterly earnings data on Monday, July 27th. The company reported $2.51 EPS for the quarter, topping 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 company had revenue of $53.58 billion during the quarter, compared to the consensus estimate of $47.64 billion. During the same period last year, the company earned ($0.16) EPS. Centene’s revenue for the quarter was up 9.9% on a year-over-year basis. Sell-side analysts expect that Centene Corporation will post 4.89 earnings per share for the current year.

Centene Profile

Centene Corporation (NYSE:CNC) is a healthcare enterprise that provides health insurance and related services, primarily through government-sponsored programs. Its offerings include Medicaid plans, Medicare products, health plans sold through the Affordable Care Act marketplace, and services for military families through government-sponsored healthcare programs.

The company also provides pharmacy, behavioral health, specialty healthcare, care management and administrative services through various subsidiaries and partner organizations.