Mn Services Vermogensbeheer B.V. Acquires 101,334 Shares of Centene Corporation $CNC

Mn Services Vermogensbeheer B.V. increased its stake in Centene Corporation (NYSE:CNC) by 71.1% in the third quarter, Holdings Channel reports. The firm owned 243,815 shares of the company’s stock after purchasing an additional 101,334 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Centene were worth $15,146,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of CNC. Deutsche Bank AG acquired a new position in shares of Centene in the 2nd quarter valued at $257,279,000. Hara Capital LLC acquired a new stake in Centene during the 2nd quarter worth about $5,222,000. Paralel Advisors LLC purchased a new stake in Centene during the 2nd quarter valued at about $4,531,000. Roberts Glore & Co. Inc. IL purchased a new position in shares of Centene in the second quarter worth about $1,659,000. Finally, GSA Capital Partners LLP purchased a new position in shares of Centene in the second quarter worth about $2,134,000. Institutional investors and hedge funds own 93.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Raymond James Financial set a $75.00 price target on shares of Centene in a report on Tuesday, July 7th. HC Wainwright reaffirmed a “buy” rating on shares of Centene in a report on Friday, September 11th. Wells Fargo & Company set a $69.00 price objective on shares of Centene and gave the stock an “equal weight” rating in a research note on Monday, July 13th. TD Cowen reissued a “hold” rating and set a $65.00 target price (up from $47.00) on shares of Centene in a report on Tuesday, July 14th. Finally, Argus raised shares of Centene from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a report on Tuesday, August 11th. Nine analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $70.05.

Insiders Place Their Bets

In other Centene news, General Counsel Christopher Koster sold 56,500 shares of the company’s stock in a transaction on 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 directly owned 248,854 shares in the company, valued at approximately $16,648,332.60. This represents a 18.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.37% of the company’s stock.

Centene Stock Performance

Shares of CNC stock opened at $65.32 on Friday. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.71. Centene Corporation has a 12-month low of $31.63 and a 12-month high of $69.63. The business’s 50 day moving average is $64.99 and its two-hundred day moving average is $58.40. The company has a market capitalization of $32.27 billion, a P/E ratio of -6.26, a P/E/G ratio of 0.41 and a beta of 1.13.

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

About Centene

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.