Centene Corporation (CNC) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank
Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Centene Corporation (NYSE:CNC) by 16.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 125,199 shares of the company’s stock after buying an additional 17,418 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.07% of Centene Corporation worth $10,001,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Centene Corporation by 5.9% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,662 shares of the company’s stock worth $118,000 after buying an additional 93 shares during the last quarter. Seven Bridges Advisors LLC acquired a new stake in shares of Centene Corporation during the second quarter worth $123,000. IFP Advisors Inc boosted its stake in shares of Centene Corporation by 9.6% in the second quarter. IFP Advisors Inc now owns 1,944 shares of the company’s stock worth $155,000 after buying an additional 170 shares during the last quarter. Creative Planning boosted its stake in shares of Centene Corporation by 5.4% in the first quarter. Creative Planning now owns 2,476 shares of the company’s stock worth $176,000 after buying an additional 127 shares during the last quarter. Finally, MV Capital Management Inc. acquired a new stake in shares of Centene Corporation during the second quarter worth $186,000. Institutional investors and hedge funds own 92.25% of the company’s stock.
Shares of Centene Corporation (NYSE:CNC) opened at 86.22 on Wednesday. The firm’s 50 day moving average is $83.11 and its 200-day moving average is $75.97. The firm has a market cap of $14.87 billion, a price-to-earnings ratio of 18.92 and a beta of 0.66. Centene Corporation has a 52 week low of $50.00 and a 52 week high of $87.94.
Centene Corporation (NYSE:CNC) last released its quarterly earnings data on Tuesday, July 25th. The company reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.29. The company had revenue of $11.95 billion during the quarter, compared to analyst estimates of $11.69 billion. Centene Corporation had a net margin of 1.72% and a return on equity of 14.62%. Centene Corporation’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.29 EPS. Equities research analysts predict that Centene Corporation will post $4.92 EPS for the current year.
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A number of analysts recently weighed in on CNC shares. BidaskClub cut shares of Centene Corporation from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 1st. Bank of America Corporation raised their target price on shares of Centene Corporation from $93.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, July 14th. Deutsche Bank AG raised their target price on shares of Centene Corporation from $84.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, July 13th. Jefferies Group LLC restated a “buy” rating and set a $94.00 target price on shares of Centene Corporation in a report on Friday, July 14th. Finally, Cantor Fitzgerald restated a “buy” rating and set a $90.00 target price on shares of Centene Corporation in a report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have given a buy rating to the stock. Centene Corporation currently has a consensus rating of “Buy” and an average target price of $86.82.
In other Centene Corporation news, Chairman Michael F. Neidorff sold 35,000 shares of the business’s stock in a transaction on Thursday, July 6th. The shares were sold at an average price of $80.26, for a total transaction of $2,809,100.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Mark J. Brooks sold 2,161 shares of the business’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $75.43, for a total transaction of $163,004.23. The disclosure for this sale can be found here. Insiders sold a total of 53,578 shares of company stock valued at $4,264,757 in the last quarter. 3.00% of the stock is currently owned by company insiders.
About Centene Corporation
Centene Corporation is a healthcare company. The Company provides a portfolio of services to government sponsored healthcare programs, focusing on under-insured and uninsured individuals. The Company operates through two segments: Managed Care and Specialty Services. The Company’s Managed Care segment provides health plan coverage to individuals, through government subsidized programs, including Medicaid, the State Children’s Health Insurance Program (CHIP), Long Term Care, Foster Care, dual-eligible individuals (Duals) and the Supplemental Security Income Program, also known as the Aged, Blind or Disabled Program (ABD), Medicare, and Health Insurance Marketplace.
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