Ardsley Advisory Partners decreased its position in Centene Corp (NYSE:CNC) by 37.5% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 125,000 shares of the company’s stock after selling 75,000 shares during the period. Centene comprises 1.5% of Ardsley Advisory Partners’ portfolio, making the stock its 16th biggest position. Ardsley Advisory Partners’ holdings in Centene were worth $12,623,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Focused Wealth Management Inc raised its stake in shares of Centene by 900.0% during the 4th quarter. Focused Wealth Management Inc now owns 1,000 shares of the company’s stock worth $101,000 after purchasing an additional 900 shares in the last quarter. Financial Gravity Companies Inc. bought a new stake in shares of Centene during the 4th quarter worth approximately $112,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Centene during the 4th quarter worth approximately $131,000. Tower Research Capital LLC TRC bought a new stake in shares of Centene during the 4th quarter worth approximately $145,000. Finally, Advisors Preferred LLC bought a new stake in shares of Centene during the 4th quarter worth approximately $159,000. Hedge funds and other institutional investors own 90.65% of the company’s stock.
Shares of Centene Corp (NYSE:CNC) opened at $102.66 on Monday. Centene Corp has a 12 month low of $65.03 and a 12 month high of $112.42. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $17,810.00, a price-to-earnings ratio of 25.79, a P/E/G ratio of 0.99 and a beta of 0.76.
In other Centene news, Director Robert K. Ditmore sold 8,750 shares of the company’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $104.30, for a total value of $912,625.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Keith H. Williamson sold 5,000 shares of the company’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $100.11, for a total value of $500,550.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,500 shares of company stock worth $3,311,613. 3.00% of the stock is owned by company insiders.
A number of brokerages have recently issued reports on CNC. Credit Suisse Group upped their price objective on Centene from $110.00 to $112.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 7th. Cantor Fitzgerald upped their price objective on Centene from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. Leerink Swann reiterated a “market perform” rating and set a $90.00 price objective (down previously from $100.00) on shares of Centene in a research note on Tuesday, February 13th. Morgan Stanley upped their price objective on Centene from $118.00 to $126.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. Finally, ValuEngine upgraded Centene from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Three investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Centene has an average rating of “Buy” and a consensus target price of $110.28.
COPYRIGHT VIOLATION WARNING: “Ardsley Advisory Partners Cuts Holdings in Centene Corp (CNC)” was posted by Markets Daily and is the property of of Markets Daily. If you are accessing this piece on another site, it was illegally stolen and republished in violation of U.S. & international copyright and trademark law. The correct version of this piece can be viewed at https://www.themarketsdaily.com/2018/03/12/ardsley-advisory-partners-cuts-holdings-in-centene-corp-cnc.html.
Centene 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.
Want to see what other hedge funds are holding CNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Centene Corp (NYSE:CNC).
Receive News & Ratings for Centene Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Centene and related companies with MarketBeat.com's FREE daily email newsletter.