Centene Corp (CNC) Shares Bought by Tdam USA Inc.

Tdam USA Inc. lifted its position in shares of Centene Corp (NYSE:CNC) by 3.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 81,660 shares of the company’s stock after purchasing an additional 3,053 shares during the quarter. Tdam USA Inc.’s holdings in Centene were worth $11,740,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CNC. FNY Investment Advisers LLC purchased a new position in shares of Centene during the 3rd quarter valued at about $106,000. Fort L.P. purchased a new position in shares of Centene during the 2nd quarter valued at about $122,000. IMA Wealth Inc. purchased a new position in shares of Centene during the 2nd quarter valued at about $124,000. Steward Partners Investment Advisory LLC raised its holdings in shares of Centene by 127.2% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,254 shares of the company’s stock valued at $155,000 after buying an additional 702 shares in the last quarter. Finally, Cornerstone Wealth Management LLC purchased a new position in shares of Centene during the 2nd quarter valued at about $157,000. 89.98% of the stock is currently owned by institutional investors.

Shares of Centene stock opened at $129.31 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market capitalization of $26.55 billion, a price-to-earnings ratio of 25.71, a P/E/G ratio of 1.22 and a beta of 1.05. Centene Corp has a one year low of $90.07 and a one year high of $148.24.

Centene (NYSE:CNC) last announced its quarterly earnings results on Tuesday, October 23rd. The company reported $1.79 EPS for the quarter, topping the Zacks’ consensus estimate of $1.77 by $0.02. The business had revenue of $16.18 billion for the quarter, compared to analysts’ expectations of $15.93 billion. Centene had a return on equity of 14.42% and a net margin of 1.58%. The business’s quarterly revenue was up 36.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.35 EPS. As a group, equities analysts expect that Centene Corp will post 7.05 EPS for the current fiscal year.

A number of equities analysts recently weighed in on the company. Barclays assumed coverage on Centene in a report on Monday, July 23rd. They set an “overweight” rating and a $158.00 price objective on the stock. MED reissued an “outperform” rating and set a $146.00 price objective (up from $138.00) on shares of Centene in a report on Wednesday, July 25th. Credit Suisse Group raised their price objective on Centene from $134.00 to $152.00 and gave the company a “neutral” rating in a report on Tuesday, September 4th. Citigroup reissued a “neutral” rating and set a $147.00 price objective on shares of Centene in a report on Wednesday, July 18th. Finally, Morgan Stanley raised their price objective on Centene from $136.00 to $138.00 and gave the company an “overweight” rating in a report on Wednesday, July 25th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Centene presently has a consensus rating of “Buy” and a consensus target price of $151.67.

In other Centene news, EVP Christopher D. Bowers sold 3,800 shares of Centene stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $145.55, for a total value of $553,090.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Robert K. Ditmore sold 15,000 shares of Centene stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $145.06, for a total value of $2,175,900.00. The disclosure for this sale can be found here. Insiders sold a total of 35,800 shares of company stock worth $4,957,590 over the last ninety days. Insiders own 3.00% of the company’s stock.

Centene Profile

Centene Corporation operates as a diversified and multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. It operates through two segments, Managed Care and Specialty Services. The Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term care, foster care, and dual eligible individual, as well as aged, blind, or disabled programs.

See Also: Price to Earnings Ratio (PE), For Valuing Stocks

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Institutional Ownership by Quarter for Centene (NYSE:CNC)

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