19,561 Shares in Centene Corporation $CNC Purchased by Dynamic Technology Lab Private Ltd

Key Points

• Dynamic Technology Lab Private Ltd acquired 19,561 shares of Centene Corporation (NYSE:CNC), valued at approximately $1,188,000, as disclosed in their recent 13F filing.
• Insider trading activity includes Centene's Director, Theodore R. Samuels II, purchasing 9,000 shares, and CEO Sarah London acquiring 19,230 shares, indicating confidence in the company's future.
• Centene's stock has experienced a recent increase of 1.1%, with current trading around $28.97, following a mixed earnings report that missed EPS estimates but exceeded revenue expectations.

Dynamic Technology Lab Private Ltd acquired a new position in shares of Centene Corporation (NYSE:CNC - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 19,561 shares of the company's stock, valued at approximately $1,188,000.

A number of other institutional investors have also recently added to or reduced their stakes in CNC. Captrust Financial Advisors raised its position in Centene by 55.6% during the fourth quarter. Captrust Financial Advisors now owns 45,103 shares of the company's stock worth $2,732,000 after acquiring an additional 16,108 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of Centene by 32.3% in the first quarter. Farther Finance Advisors LLC now owns 6,333 shares of the company's stock valued at $383,000 after buying an additional 1,546 shares during the last quarter. AXS Investments LLC acquired a new position in Centene during the first quarter worth approximately $1,458,000. Envestnet Asset Management Inc. grew its stake in Centene by 30.0% during the first quarter. Envestnet Asset Management Inc. now owns 708,717 shares of the company's stock worth $43,026,000 after buying an additional 163,462 shares during the period. Finally, Amundi grew its stake in Centene by 14.3% during the first quarter. Amundi now owns 3,185,736 shares of the company's stock worth $204,811,000 after buying an additional 398,966 shares during the period. Hedge funds and other institutional investors own 93.63% of the company's stock.

Insider Buying and Selling

In other news, Director Theodore R. Samuels II purchased 9,000 shares of the company's stock in a transaction dated Monday, July 28th. The shares were bought at an average price of $27.62 per share, with a total value of $248,580.00. Following the completion of the transaction, the director directly owned 32,000 shares in the company, valued at $883,840. This trade represents a 39.13% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sarah London purchased 19,230 shares of the firm's stock in a transaction on Friday, August 8th. The shares were acquired at an average price of $25.50 per share, for a total transaction of $490,365.00. Following the purchase, the chief executive officer directly owned 845,275 shares of the company's stock, valued at approximately $21,554,512.50. This represents a 2.33% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.36% of the stock is owned by insiders.

Centene Price Performance

CNC traded down $0.83 on Friday, reaching $33.25. The company had a trading volume of 12,504,786 shares, compared to its average volume of 9,211,356. The company has a fifty day moving average of $28.74 and a 200-day moving average of $48.08. The company has a market capitalization of $16.33 billion, a P/E ratio of 8.23, a PEG ratio of 1.27 and a beta of 0.44. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.64. Centene Corporation has a one year low of $25.08 and a one year high of $77.29.

Centene (NYSE:CNC - Get Free Report) last announced its earnings results on Friday, July 25th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.23 by ($0.39). Centene had a net margin of 1.15% and a return on equity of 9.57%. The company had revenue of $48.74 billion during the quarter, compared to the consensus estimate of $44.71 billion. During the same quarter in the prior year, the company earned $2.42 EPS. The business's quarterly revenue was up 22.4% on a year-over-year basis. Centene has set its FY 2025 guidance at 1.750-1.750 EPS. As a group, equities research analysts anticipate that Centene Corporation will post 6.86 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on CNC. UBS Group decreased their price objective on shares of Centene from $45.00 to $31.00 and set a "neutral" rating for the company in a research note on Monday, July 28th. Sanford C. Bernstein decreased their price objective on shares of Centene from $40.00 to $36.00 and set an "outperform" rating for the company in a research note on Friday, September 5th. Truist Financial boosted their price objective on shares of Centene from $35.00 to $39.00 and gave the stock a "buy" rating in a research note on Friday. JPMorgan Chase & Co. decreased their target price on shares of Centene from $48.00 to $30.00 and set a "neutral" rating for the company in a research note on Tuesday, July 29th. Finally, Oppenheimer decreased their target price on shares of Centene from $51.00 to $43.00 and set an "outperform" rating for the company in a research note on Monday, July 28th. Three equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $38.33.

About Centene

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.