Carol Goldman Sells 10,000 Shares of Centene Corp. (CNC) Stock
Centene Corp. (NYSE:CNC) VP Carol Goldman sold 10,000 shares of the company’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $66.36, for a total transaction of $663,600.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Centene Corp. (NYSE:CNC) opened at 62.30 on Wednesday. Centene Corp. has a 52 week low of $47.36 and a 52 week high of $75.57. The firm’s 50-day moving average is $67.75 and its 200-day moving average is $65.84. The firm has a market capitalization of $10.64 billion, a P/E ratio of 24.04 and a beta of 0.94.
Centene Corp. (NYSE:CNC) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $1.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.09 by $0.20. The company had revenue of $10.90 billion for the quarter, compared to the consensus estimate of $10.80 billion. Centene Corp. had a net margin of 1.19% and a return on equity of 14.27%. The firm’s quarterly revenue was up 97.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.72 EPS. Equities analysts anticipate that Centene Corp. will post $4.37 EPS for the current year.
CNC has been the topic of several analyst reports. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Centene Corp. in a research report on Thursday, September 29th. FBR & Co reaffirmed a “buy” rating on shares of Centene Corp. in a research report on Thursday, September 1st. Evercore ISI initiated coverage on shares of Centene Corp. in a research report on Thursday, September 22nd. They set a “buy” rating and a $79.00 price target on the stock. Credit Suisse Group AG reaffirmed a “buy” rating and set a $78.00 price target on shares of Centene Corp. in a research report on Tuesday, September 13th. Finally, Wedbush reaffirmed an “outperform” rating and set a $85.00 price target on shares of Centene Corp. in a research report on Wednesday, September 7th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Centene Corp. has a consensus rating of “Buy” and an average target price of $80.88.
Institutional investors have recently modified their holdings of the company. Handelsbanken Fonder AB increased its position in shares of Centene Corp. by 22.9% in the second quarter. Handelsbanken Fonder AB now owns 376,000 shares of the company’s stock worth $26,835,000 after buying an additional 70,000 shares during the period. ING Groep NV bought a new position in shares of Centene Corp. during the first quarter worth $5,982,000. Samlyn Capital LLC bought a new position in shares of Centene Corp. during the first quarter worth $35,212,000. Boston Advisors LLC increased its position in shares of Centene Corp. by 0.8% in the second quarter. Boston Advisors LLC now owns 18,742 shares of the company’s stock worth $1,338,000 after buying an additional 150 shares during the period. Finally, Legal & General Group Plc increased its position in shares of Centene Corp. by 49.1% in the first quarter. Legal & General Group Plc now owns 685,197 shares of the company’s stock worth $42,193,000 after buying an additional 225,733 shares during the period. 92.92% of the stock is currently owned by institutional investors.
About Centene Corp.
Centene Corporation is a diversified healthcare company that provides programs and services to government sponsored healthcare programs. The Company also provides education and outreach programs to inform and assist members in accessing appropriate healthcare services. The Company operates through two segments.
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