69,832 Shares in Centene Corporation $CNC Purchased by Sanctuary Advisors LLC

Sanctuary Advisors LLC acquired a new position in shares of Centene Corporation (NYSE:CNC) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 69,832 shares of the company’s stock, valued at approximately $4,483,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Baird Financial Group Inc. purchased a new stake in Centene during the first quarter valued at $236,000. Sivia Capital Partners LLC grew its stake in shares of Centene by 80.0% in the 2nd quarter. Sivia Capital Partners LLC now owns 9,710 shares of the company’s stock worth $527,000 after buying an additional 4,315 shares in the last quarter. CW Advisors LLC increased its holdings in shares of Centene by 20.3% in the 2nd quarter. CW Advisors LLC now owns 4,863 shares of the company’s stock worth $264,000 after buying an additional 820 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of Centene by 6.1% during the 2nd quarter. NewEdge Advisors LLC now owns 44,945 shares of the company’s stock valued at $2,440,000 after buying an additional 2,582 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its holdings in shares of Centene by 0.4% in the 2nd quarter. Treasurer of the State of North Carolina now owns 231,938 shares of the company’s stock valued at $12,590,000 after acquiring an additional 967 shares during the last quarter. 93.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CNC has been the topic of several analyst reports. Argus raised Centene from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a research report on Tuesday, August 11th. Raymond James Financial set a $75.00 price objective on shares of Centene in a research report on Tuesday, July 7th. Sanford C. Bernstein reissued an “outperform” rating and issued a $79.00 target price (up from $68.00) on shares of Centene in a research note on Monday, August 3rd. TD Cowen reaffirmed 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. Finally, Deutsche Bank Aktiengesellschaft raised shares of Centene from a “hold” rating to a “buy” rating and increased their price objective for the stock from $53.00 to $80.00 in a research report on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Centene has an average rating of “Hold” and an average target price of $70.05.

Centene Stock Up 1.0%

NYSE:CNC opened at $65.64 on Tuesday. 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 Corporation has a 1-year low of $28.24 and a 1-year high of $69.36. The company has a 50-day moving average of $65.00 and a 200 day moving average of $52.63. The firm has a market cap of $32.43 billion, a PE ratio of -6.29, a price-to-earnings-growth ratio of 0.35 and a beta of 1.08.

Centene (NYSE:CNC) last posted its earnings results on Monday, July 27th. The company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $1.42. The company had revenue of $53.58 billion during the quarter, compared to analyst estimates 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 was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.16) earnings per share. As a group, research analysts anticipate that Centene Corporation will post 4.89 EPS for the current fiscal year.

Insider Transactions at Centene

In other news, General Counsel Christopher Koster sold 47,603 shares of the business’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $65.36, for a total transaction of $3,111,332.08. Following the sale, the general counsel owned 305,354 shares in the company, valued at approximately $19,957,937.44. The trade was a 13.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.37% of the stock is owned by corporate insiders.

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.