Nykredit A S Purchases Shares of 122,746 Centene Corporation $CNC

Key Points

• Nykredit A/S acquired 122,746 Centene shares during the second quarter, worth approximately $7.9 million. Institutional investors collectively own 93.63% of Centene.
• Centene’s latest quarterly results exceeded expectations, with adjusted EPS of $2.51 versus the $1.09 consensus estimate and revenue of $53.58 billion, up 9.9% year over year.
• Centene shares opened at $65.08, while analysts maintain a consensus “Hold” rating with an average price target of $70.05. Separately, General Counsel Christopher Koster sold 56,500 shares at an average price of $66.90.

Nykredit A S acquired a new stake in shares of Centene Corporation (NYSE:CNC - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 122,746 shares of the company's stock, valued at approximately $7,879,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Corient Private Wealth LP raised its holdings in shares of Centene by 195.1% during the 2nd quarter. Corient Private Wealth LP now owns 433,628 shares of the company's stock valued at $27,835,000 after buying an additional 286,687 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Centene during the 2nd quarter valued at about $41,512,000. Ameritas Advisory Services LLC bought a new position in shares of Centene in the 2nd quarter worth approximately $312,000. Wedmont Private Capital lifted its position in Centene by 18.7% during the second quarter. Wedmont Private Capital now owns 12,162 shares of the company's stock valued at $819,000 after purchasing an additional 1,912 shares in the last quarter. Finally, HB Wealth Management LLC grew its stake in shares of Centene by 4.0% during the 2nd quarter. HB Wealth Management LLC now owns 45,774 shares of the company's stock valued at $2,938,000 after acquiring an additional 1,747 shares during the period. 93.63% of the stock is owned by institutional investors.

Insider Transactions at Centene

In other Centene news, General Counsel Christopher Koster sold 56,500 shares of the company's stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $66.90, for a total transaction of $3,779,850.00. Following the completion of the transaction, the general counsel directly owned 248,854 shares in the company, valued at approximately $16,648,332.60. This represents a 18.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.37% of the company's stock.

Centene Trading Down 0.0%

CNC stock opened at $65.08 on Tuesday. Centene Corporation has a 12 month low of $31.63 and a 12 month high of $69.63. The company has a market capitalization of $32.15 billion, a PE ratio of -6.23, a P/E/G ratio of 0.41 and a beta of 1.10. The firm's 50-day moving average is $65.41 and its 200 day moving average is $56.05. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.15 and a quick ratio of 1.15.

Centene (NYSE:CNC - Get Free Report) last issued its quarterly earnings results on Monday, July 27th. The company reported $2.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.09 by $1.42. The business had revenue of $53.58 billion for 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%.The business's quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.16) earnings per share. On average, research analysts anticipate that Centene Corporation will post 4.89 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CNC shares. Robert W. Baird lifted their price objective on shares of Centene from $46.00 to $66.00 and gave the company a "neutral" rating in a research report on Wednesday, July 29th. Mizuho set a $63.00 price objective on shares of Centene and gave the company a "neutral" rating in a report on Monday, June 8th. Sanford C. Bernstein restated an "outperform" rating and set a $79.00 price objective (up from $68.00) on shares of Centene in a research report on Monday, August 3rd. Wells Fargo & Company set a $69.00 price target on Centene and gave the company an "equal weight" rating in a report on Monday, July 13th. Finally, Raymond James Financial set a $75.00 price objective on Centene in a research note on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Centene has a consensus rating of "Hold" and a consensus target price of $70.05.

About Centene

Centene Corporation NYSE: CNC is a managed-care company that provides health insurance and related healthcare services, primarily through government-sponsored programs. Its offerings include Medicaid, Medicare Advantage and Medicare Prescription Drug plans, coverage for individuals and families through the health insurance marketplace, and health services for military families and veterans.

The company markets several healthcare brands, including Ambetter, which provides marketplace plans, and Wellcare, which offers Medicare products.

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