Centene Corporation (CNC) Shares Bought by Oppenheimer & Co. Inc.
Oppenheimer & Co. Inc. grew its position in shares of Centene Corporation (NYSE:CNC) by 3.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,699 shares of the company’s stock after buying an additional 1,585 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Centene Corporation were worth $3,410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CNC. Bronfman E.L. Rothschild L.P. lifted its holdings in shares of Centene Corporation by 5.9% during the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 1,662 shares of the company’s stock valued at $118,000 after buying an additional 93 shares during the period. Seven Bridges Advisors LLC bought a new position in Centene Corporation in the 2nd quarter worth $123,000. IFP Advisors Inc raised its holdings in Centene Corporation by 9.6% in the 2nd quarter. IFP Advisors Inc now owns 1,944 shares of the company’s stock worth $155,000 after purchasing an additional 170 shares during the period. Creative Planning raised its holdings in Centene Corporation by 5.4% in the 1st quarter. Creative Planning now owns 2,476 shares of the company’s stock worth $176,000 after purchasing an additional 127 shares during the period. Finally, MV Capital Management Inc. bought a new position in Centene Corporation in the 2nd quarter worth $186,000. 92.26% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently commented on CNC shares. Bank of America Corporation raised their target price on Centene Corporation from $93.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, July 14th. ValuEngine raised Centene Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 27th. Zacks Investment Research cut Centene Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 4th. BidaskClub cut Centene Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Finally, J P Morgan Chase & Co cut Centene Corporation from an “overweight” rating to a “neutral” rating and set a $75.00 target price on the stock. in a report on Monday, May 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $86.82.
In related news, Director Robert K. Ditmore sold 4,167 shares of the company’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $82.59, for a total transaction of $344,152.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christopher D. Bowers sold 4,000 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $79.43, for a total transaction of $317,720.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,517 shares of company stock valued at $3,807,576. Insiders own 3.00% of the company’s stock.
Centene Corporation (CNC) opened at 88.62 on Monday. The stock’s 50 day moving average price is $83.87 and its 200-day moving average price is $76.63. The stock has a market cap of $15.28 billion, a price-to-earnings ratio of 19.45 and a beta of 0.63. Centene Corporation has a 12 month low of $50.00 and a 12 month high of $88.96.
Centene Corporation (NYSE:CNC) last released its quarterly earnings results on Tuesday, July 25th. The company reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.29. Centene Corporation had a net margin of 1.72% and a return on equity of 14.62%. The firm had revenue of $11.95 billion during the quarter, compared to the consensus estimate of $11.69 billion. During the same quarter in the prior year, the firm earned $1.29 EPS. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. Equities analysts expect that Centene Corporation will post $4.92 EPS for the current year.
Centene Corporation 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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