Centene Corporation $CNC Stock Sold by Daytona Street Capital LLC

Daytona Street Capital LLC reduced its position in Centene Corporation (NYSE:CNC) by 19.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 41,516 shares of the company’s stock after selling 10,000 shares during the period. Centene accounts for approximately 1.8% of Daytona Street Capital LLC’s investment portfolio, making the stock its 13th largest holding. Daytona Street Capital LLC’s holdings in Centene were worth $2,635,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Deutsche Bank AG purchased a new stake in shares of Centene in the 2nd quarter worth $257,279,000. Hara Capital LLC purchased a new position in Centene during the second quarter valued at $5,222,000. Paralel Advisors LLC purchased a new position in Centene during the second quarter valued at $4,531,000. Roberts Glore & Co. Inc. IL bought a new stake in Centene during the second quarter valued at about $1,659,000. Finally, Heartland Advisors Inc. bought a new stake in Centene during the second quarter valued at about $9,764,000. Institutional investors own 93.63% of the company’s stock.

Wall Street Analysts Forecast Growth

CNC has been the subject of a number of analyst reports. Morgan Stanley set a $66.00 price target on Centene in a research report on Wednesday, July 29th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $79.00 price objective (up from $68.00) on shares of Centene in a research report on Monday, August 3rd. HC Wainwright reiterated a “buy” rating on shares of Centene in a research note on Friday, September 11th. Royal Bank Of Canada increased their target price on shares of Centene from $70.00 to $71.00 and gave the stock a “sector perform” rating in a report on Thursday, July 9th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Centene in a research note on Friday, October 9th. Nine analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $70.05.

Centene Price Performance

Shares of NYSE:CNC opened at $70.62 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.15 and a current ratio of 1.15. The firm has a fifty day moving average price of $65.34 and a 200 day moving average price of $59.60. Centene Corporation has a fifty-two week low of $31.63 and a fifty-two week high of $71.01. The firm has a market cap of $34.88 billion, a price-to-earnings ratio of -6.76, a P/E/G ratio of 0.44 and a beta of 1.13.

Centene (NYSE:CNC) last posted its earnings results on Monday, July 27th. The company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $1.09 by $1.42. The company had revenue of $53.58 billion during the quarter, compared to analysts’ expectations of $47.64 billion. Centene had a negative net margin of 2.51% and a positive return on equity of 12.12%. Centene’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period last year, the company posted ($0.16) earnings per share. As a group, sell-side analysts expect that Centene Corporation will post 4.89 earnings per share for the current fiscal year.

Insider Activity at Centene

In other Centene news, General Counsel Christopher Koster sold 56,500 shares of the stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $66.90, for a total transaction of $3,779,850.00. Following the completion of the transaction, the general counsel owned 248,854 shares of the company’s stock, valued at $16,648,332.60. This represents a 18.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.37% of the stock is owned by company insiders.

Centene Company Profile

Centene Corporation (NYSE:CNC) is a healthcare enterprise that provides health insurance and related services, primarily through government-sponsored programs. Its offerings include Medicaid plans, Medicare products, health plans sold through the Affordable Care Act marketplace, and services for military families through government-sponsored healthcare programs.

The company also provides pharmacy, behavioral health, specialty healthcare, care management and administrative services through various subsidiaries and partner organizations.