Centene (NYSE:CNC) General Counsel Christopher Koster Sells 47,603 Shares

Centene Corporation (NYSE:CNC) General Counsel Christopher Koster sold 47,603 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $65.36, for a total transaction of $3,111,332.08. Following the sale, the general counsel directly owned 305,354 shares of the company’s stock, valued at $19,957,937.44. This trade represents a 13.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Centene Stock Down 0.9%

Centene stock opened at $64.66 on Thursday. Centene Corporation has a 12 month low of $28.24 and a 12 month high of $69.36. The stock has a fifty day simple moving average of $64.95 and a two-hundred day simple moving average of $52.16. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.71. The firm has a market cap of $31.94 billion, a price-to-earnings ratio of -6.19, a PEG ratio of 0.35 and a beta of 1.08.

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. The company had revenue of $53.58 billion during the quarter, compared to the consensus estimate of $47.64 billion. Centene had a positive return on equity of 12.12% and a negative net margin of 2.51%.Centene’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period last year, the company earned ($0.16) EPS. Equities analysts predict that Centene Corporation will post 4.89 EPS for the current fiscal year.

Hedge Funds Weigh In On Centene

A number of institutional investors have recently bought and sold shares of the stock. 180 Wealth Advisors LLC increased its position in Centene by 3.1% in the first quarter. 180 Wealth Advisors LLC now owns 6,683 shares of the company’s stock worth $219,000 after buying an additional 199 shares in the last quarter. Summitry LLC lifted its position in shares of Centene by 1.1% during the 1st quarter. Summitry LLC now owns 23,925 shares of the company’s stock valued at $783,000 after buying an additional 253 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Centene by 2.4% during the 2nd quarter. GAMMA Investing LLC now owns 10,674 shares of the company’s stock valued at $685,000 after acquiring an additional 253 shares during the period. Kestra Advisory Services LLC increased its holdings in Centene by 0.5% in the 4th quarter. Kestra Advisory Services LLC now owns 52,602 shares of the company’s stock worth $2,165,000 after acquiring an additional 264 shares in the last quarter. Finally, CX Institutional raised its stake in Centene by 3.1% during the 2nd quarter. CX Institutional now owns 8,999 shares of the company’s stock worth $578,000 after acquiring an additional 269 shares during the period. 93.63% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CNC. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Centene in a research report on Friday, July 17th. Barclays reaffirmed an “overweight” rating and issued a $80.00 price objective (up from $75.00) on shares of Centene in a report on Wednesday, July 29th. Raymond James Financial set a $75.00 price objective on Centene in a research report on Tuesday, July 7th. Truist Financial raised their target price on Centene from $71.00 to $78.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Finally, TD Cowen restated a “hold” rating and set a $65.00 price target (up from $47.00) on shares of Centene in a research note on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $70.05.

About Centene

Centene Corporation (NYSE: CNC) is a diversified, multi-national healthcare enterprise that specializes in providing services to government-sponsored and national health programs. The company primarily acts as a managed care organization, delivering healthcare coverage and administering benefits for Medicaid, the Children’s Health Insurance Program (CHIP), Medicare Advantage, and individual marketplace plans. Centene also contracts with federal and state agencies to manage specialty care programs and community-based services for vulnerable populations.

Centene’s offerings extend beyond traditional insurance to include a range of specialty and support services.