Scott & Selber Inc. bought a new position in shares of Centene Corp (NYSE:CNC) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 39,236 shares of the company’s stock, valued at approximately $2,058,000.

Several other large investors also recently bought and sold shares of CNC. Huntington National Bank raised its position in shares of Centene by 110.7% in the first quarter. Huntington National Bank now owns 472 shares of the company’s stock worth $25,000 after buying an additional 248 shares in the last quarter. Toth Financial Advisory Corp raised its position in shares of Centene by 100.0% in the first quarter. Toth Financial Advisory Corp now owns 480 shares of the company’s stock worth $25,000 after buying an additional 240 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Centene in the first quarter worth $27,000. Shamrock Asset Management LLC raised its position in shares of Centene by 100.0% in the first quarter. Shamrock Asset Management LLC now owns 522 shares of the company’s stock worth $28,000 after buying an additional 261 shares in the last quarter. Finally, Camarda Financial Advisors LLC raised its position in shares of Centene by 112.5% in the first quarter. Camarda Financial Advisors LLC now owns 612 shares of the company’s stock worth $32,000 after buying an additional 324 shares in the last quarter. Hedge funds and other institutional investors own 89.86% of the company’s stock.

In related news, Director Jessica L. Blume acquired 2,850 shares of Centene stock in a transaction dated Friday, July 26th. The shares were purchased at an average cost of $52.99 per share, with a total value of $151,021.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.50% of the stock is currently owned by company insiders.

A number of equities research analysts recently issued reports on CNC shares. Citigroup upgraded Centene from a “neutral” rating to a “buy” rating and set a $69.00 price objective on the stock in a research report on Friday, May 10th. Zacks Investment Research downgraded Centene from a “buy” rating to a “hold” rating and set a $59.00 price objective on the stock. in a research report on Wednesday, May 29th. ValuEngine downgraded Centene from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 2nd. Cantor Fitzgerald reiterated a “buy” rating and issued a $83.00 price objective on shares of Centene in a research report on Sunday, April 21st. Finally, Morgan Stanley lowered their price objective on Centene from $75.00 to $71.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $75.26.

NYSE CNC traded up $1.88 during trading hours on Tuesday, reaching $49.86. 2,957,456 shares of the stock traded hands, compared to its average volume of 4,948,466. The firm has a 50 day moving average price of $52.00. Centene Corp has a 1 year low of $45.44 and a 1 year high of $74.49. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market cap of $20.14 billion, a P/E ratio of 14.08, a price-to-earnings-growth ratio of 0.78 and a beta of 0.83.

Centene (NYSE:CNC) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.10. Centene had a return on equity of 15.87% and a net margin of 1.84%. The firm had revenue of $18.36 billion for the quarter, compared to analysts’ expectations of $18.02 billion. During the same period last year, the firm earned $0.90 earnings per share. The company’s revenue for the quarter was up 29.4% compared to the same quarter last year. On average, equities research analysts expect that Centene Corp will post 4.41 earnings per share for the current fiscal year.

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. The company's Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term services and support, foster care, and medicare-medicaid plans, which covers dually eligible individuals, as well as aged, blind, or disabled programs.

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Institutional Ownership by Quarter for Centene (NYSE:CNC)

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