Centene Co. (NYSE:CNC) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lessened its stake in shares of Centene Co. (NYSE:CNC - Free Report) by 10.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 407,907 shares of the company's stock after selling 48,914 shares during the period. Wedge Capital Management L L P NC owned 0.08% of Centene worth $30,271,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Operose Advisors LLC purchased a new position in shares of Centene during the 3rd quarter worth $25,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Centene during the 4th quarter worth about $25,000. OFI Invest Asset Management acquired a new stake in shares of Centene during the 3rd quarter worth about $26,000. Riggs Asset Managment Co. Inc. acquired a new stake in shares of Centene during the 4th quarter worth about $32,000. Finally, Headinvest LLC acquired a new stake in shares of Centene during the 3rd quarter worth about $35,000. Hedge funds and other institutional investors own 93.63% of the company's stock.

Centene Stock Up 0.6 %

Shares of CNC traded up $0.44 during midday trading on Monday, hitting $75.59. The company had a trading volume of 2,479,600 shares, compared to its average volume of 3,072,247. The company's 50-day simple moving average is $76.51 and its 200-day simple moving average is $74.70. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market capitalization of $40.43 billion, a P/E ratio of 15.40, a P/E/G ratio of 0.93 and a beta of 0.38. Centene Co. has a 1 year low of $60.83 and a 1 year high of $81.42.

Centene (NYSE:CNC - Get Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.02. The business had revenue of $39.46 billion during the quarter, compared to analysts' expectations of $36.16 billion. Centene had a return on equity of 14.26% and a net margin of 1.75%. The business's quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.86 EPS. As a group, sell-side analysts expect that Centene Co. will post 6.75 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Stephens reissued an "equal weight" rating and set a $85.00 price objective (down from $92.00) on shares of Centene in a research report on Thursday, March 21st. StockNews.com downgraded Centene from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 28th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $90.00 target price on shares of Centene in a research report on Thursday, April 4th. Barclays started coverage on Centene in a research report on Wednesday, March 6th. They issued an "overweight" rating and a $101.00 target price for the company. Finally, Wells Fargo & Company lifted their target price on Centene from $89.00 to $93.00 and gave the company an "overweight" rating in a research report on Monday, April 15th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $85.38.

Insider Buying and Selling

In other Centene news, Director Lori Jean Robinson sold 10,000 shares of the company's stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $77.41, for a total value of $774,100.00. Following the sale, the director now owns 11,455 shares of the company's stock, valued at $886,731.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Centene news, President Kenneth J. Fasola sold 12,000 shares of the company's stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $75.07, for a total value of $900,840.00. Following the sale, the president now owns 235,365 shares of the company's stock, valued at $17,668,850.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lori Jean Robinson sold 10,000 shares of the company's stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $77.41, for a total value of $774,100.00. Following the completion of the sale, the director now directly owns 11,455 shares in the company, valued at approximately $886,731.55. The disclosure for this sale can be found here. 0.29% of the stock is owned by company insiders.

Centene Company Profile

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.