Centene Co. (NYSE:CNC) Shares Bought by Neuberger Berman Group LLC

Neuberger Berman Group LLC boosted its holdings in shares of Centene Co. (NYSE:CNCFree Report) by 11.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,028 shares of the company’s stock after buying an additional 5,724 shares during the period. Neuberger Berman Group LLC’s holdings in Centene were worth $4,084,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Operose Advisors LLC purchased a new stake in shares of Centene in the third quarter worth about $25,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Centene in the fourth quarter worth about $25,000. Riggs Asset Managment Co. Inc. purchased a new stake in shares of Centene in the fourth quarter worth about $32,000. Headinvest LLC purchased a new stake in shares of Centene in the third quarter worth about $35,000. Finally, Provence Wealth Management Group purchased a new stake in shares of Centene in the third quarter worth about $44,000. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on CNC shares. Wells Fargo & Company upped their target price on Centene from $89.00 to $93.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. StockNews.com upgraded Centene from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 29th. Barclays increased their price target on Centene from $101.00 to $104.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft increased their target price on Centene from $81.00 to $82.00 and gave the company a “hold” rating in a report on Tuesday, April 30th. Finally, Oppenheimer reissued an “outperform” rating and set a $110.00 target price on shares of Centene in a report on Monday, April 29th. Six research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Centene has an average rating of “Moderate Buy” and an average price target of $85.23.

Get Our Latest Research Report on CNC

Insider Activity at Centene

In related news, President Kenneth J. Fasola sold 8,000 shares of Centene stock in a transaction on Monday, May 13th. The stock was sold at an average price of $77.62, for a total value of $620,960.00. Following the completion of the transaction, the president now directly owns 300,357 shares in the company, valued at $23,313,710.34. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, President Kenneth J. Fasola sold 8,000 shares of Centene stock in a transaction dated 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 owns 300,357 shares in the company, valued at $23,313,710.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christopher J. Coughlin sold 878 shares of Centene stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $76.75, for a total value of $67,386.50. Following the sale, the director now 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 currently owned by company insiders.

Centene Trading Down 3.5 %

Shares of CNC traded down $2.70 during midday trading on Friday, hitting $74.63. 4,019,964 shares of the stock were exchanged, compared to its average volume of 3,595,321. Centene Co. has a 52-week low of $60.83 and a 52-week high of $81.42. The stock has a fifty day simple moving average of $75.47 and a 200 day simple moving average of $75.63. The firm has a market cap of $39.83 billion, a P/E ratio of 14.84, a P/E/G ratio of 0.96 and a beta of 0.41. 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:CNCGet Free Report) last released its quarterly earnings results on Friday, April 26th. The company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.09 by $0.17. Centene had a return on equity of 14.19% and a net margin of 1.76%. The business had revenue of $40.41 billion during the quarter, compared to analyst estimates of $36.43 billion. During the same period last year, the business posted $2.11 earnings per share. The company’s quarterly revenue was up 3.9% on a year-over-year basis. On average, research analysts anticipate that Centene Co. will post 6.82 EPS for the current fiscal year.

About Centene

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Centene (NYSE:CNC)

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