Centene Corporation (CNC) Shares Bought by Bridgewater Wealth & Financial Management LLC
Bridgewater Wealth & Financial Management LLC boosted its position in shares of Centene Corporation (NYSE:CNC) by 8.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 82,757 shares of the company’s stock after buying an additional 6,455 shares during the period. Centene Corporation accounts for about 2.2% of Bridgewater Wealth & Financial Management LLC’s investment portfolio, making the stock its 17th largest position. Bridgewater Wealth & Financial Management LLC’s holdings in Centene Corporation were worth $6,611,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Macquarie Group Ltd. boosted its position in Centene Corporation by 15.2% in the fourth quarter. Macquarie Group Ltd. now owns 92,969 shares of the company’s stock worth $5,254,000 after buying an additional 12,250 shares during the last quarter. Creative Planning boosted its position in Centene Corporation by 5.4% in the first quarter. Creative Planning now owns 2,476 shares of the company’s stock worth $176,000 after buying an additional 127 shares during the last quarter. Gulf International Bank UK Ltd boosted its position in Centene Corporation by 1.8% in the first quarter. Gulf International Bank UK Ltd now owns 51,917 shares of the company’s stock worth $3,699,000 after buying an additional 900 shares during the last quarter. National Pension Service boosted its position in Centene Corporation by 1.3% in the first quarter. National Pension Service now owns 159,239 shares of the company’s stock worth $11,489,000 after buying an additional 2,015 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in Centene Corporation by 89.1% in the first quarter. Bank of Montreal Can now owns 165,864 shares of the company’s stock worth $11,820,000 after buying an additional 78,140 shares during the last quarter. Institutional investors own 93.09% of the company’s stock.
Shares of Centene Corporation (CNC) opened at 83.87 on Thursday. The firm has a 50 day moving average price of $82.27 and a 200-day moving average price of $74.99. The company has a market cap of $14.47 billion, a price-to-earnings ratio of 18.40 and a beta of 0.66. Centene Corporation has a 12-month low of $50.00 and a 12-month high of $87.94.
Centene Corporation (NYSE:CNC) last issued its quarterly earnings data on Tuesday, July 25th. The company reported $1.59 EPS for the quarter, beating the consensus estimate of $1.30 by $0.29. Centene Corporation had a return on equity of 14.62% and a net margin of 1.72%. The firm had revenue of $11.95 billion during the quarter, compared to analyst estimates of $11.69 billion. During the same quarter in the prior year, the business posted $1.29 EPS. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, equities analysts expect that Centene Corporation will post $4.92 earnings per share for the current fiscal year.
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CNC has been the subject of a number of research analyst reports. Jefferies Group LLC restated a “buy” rating and issued a $79.00 target price on shares of Centene Corporation in a research note on Wednesday, April 19th. Cantor Fitzgerald restated a “buy” rating and issued a $88.00 target price (up previously from $85.00) on shares of Centene Corporation in a research note on Tuesday, April 25th. Stifel Nicolaus raised their target price on Centene Corporation from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, April 26th. Evercore ISI raised their target price on Centene Corporation from $80.00 to $83.00 and gave the company an “outperform” rating in a research note on Wednesday, April 26th. Finally, Zacks Investment Research upgraded Centene Corporation from a “hold” rating to a “buy” rating and set a $82.00 target price for the company in a research note on Thursday, April 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $86.82.
In other news, Director Robert K. Ditmore sold 3,900 shares of the stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $75.43, for a total transaction of $294,177.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Mark J. Brooks sold 2,161 shares of the stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $75.43, for a total value of $163,004.23. The disclosure for this sale can be found here. In the last quarter, insiders have sold 53,578 shares of company stock valued at $4,264,757. Company insiders own 3.00% of the company’s stock.
Centene Corporation Company Profile
Centene Corporation is a healthcare company. The Company provides a portfolio of services to government sponsored healthcare programs, focusing on under-insured and uninsured individuals. The Company operates through two segments: Managed Care and Specialty Services. The Company’s Managed Care segment provides health plan coverage to individuals, through government subsidized programs, including Medicaid, the State Children’s Health Insurance Program (CHIP), Long Term Care, Foster Care, dual-eligible individuals (Duals) and the Supplemental Security Income Program, also known as the Aged, Blind or Disabled Program (ABD), Medicare, and Health Insurance Marketplace.
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