Morgan Stanley raised its position in Centene Corp (NYSE:CNC) by 7.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 668,772 shares of the company’s stock after buying an additional 45,996 shares during the quarter. Morgan Stanley’s holdings in Centene were worth $82,401,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CNC. Financial Gravity Wealth Inc. bought a new stake in shares of Centene during the 1st quarter worth approximately $114,000. Fort L.P. bought a new stake in shares of Centene during the 2nd quarter worth approximately $122,000. IMA Wealth Inc. bought a new stake in shares of Centene during the 2nd quarter worth approximately $124,000. Steward Partners Investment Advisory LLC raised its stake in shares of Centene by 127.2% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,254 shares of the company’s stock worth $155,000 after purchasing an additional 702 shares in the last quarter. Finally, Cornerstone Wealth Management LLC bought a new stake in shares of Centene during the 2nd quarter worth approximately $157,000. Hedge funds and other institutional investors own 90.04% of the company’s stock.

CNC stock opened at $142.71 on Monday. The company has a current ratio of 1.25, a quick ratio of 1.26 and a debt-to-equity ratio of 0.59. The company has a market cap of $29.29 billion, a P/E ratio of 22.69, a price-to-earnings-growth ratio of 1.38 and a beta of 0.85. Centene Corp has a 1-year low of $83.56 and a 1-year high of $148.24.

Centene (NYSE:CNC) last posted its earnings results on Tuesday, July 24th. The company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.03. The business had revenue of $14.18 billion for the quarter, compared to analyst estimates of $13.82 billion. Centene had a return on equity of 14.57% and a net margin of 2.06%. The firm’s revenue was up 18.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.59 EPS. equities analysts forecast that Centene Corp will post 7.08 EPS for the current year.

In other Centene news, EVP Christopher D. Bowers sold 3,800 shares of the company’s stock in a transaction on Monday, September 10th. The stock was sold at an average price of $145.55, for a total value of $553,090.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Robert K. Ditmore sold 15,000 shares of the company’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $145.06, for a total value of $2,175,900.00. The disclosure for this sale can be found here. Insiders have sold a total of 30,550 shares of company stock worth $4,274,790 over the last three months. 3.00% of the stock is owned by insiders.

A number of brokerages have recently issued reports on CNC. Piper Jaffray Companies reiterated a “buy” rating and set a $152.00 price objective on shares of Centene in a research note on Wednesday, July 25th. Oppenheimer upped their price objective on Centene from $130.00 to $138.00 in a research note on Monday, June 18th. Leerink Swann upped their price objective on Centene from $120.00 to $130.00 and gave the stock a “market perform” rating in a research note on Monday, June 18th. Credit Suisse Group upped their price objective on Centene from $125.00 to $134.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 25th. Finally, Cantor Fitzgerald upped their price objective on Centene to $137.00 and gave the stock an “overweight” rating in a research note on Monday, June 18th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Centene presently has an average rating of “Buy” and a consensus target price of $147.29.

Centene Profile

Centene Corporation operates as a diversified and multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. It operates through two segments, Managed Care and Specialty Services. The Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term care, foster care, and dual eligible individual, as well as aged, blind, or disabled programs.

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Institutional Ownership by Quarter for Centene (NYSE:CNC)

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