10,938 Shares of Centene Corporation $CNC Purchased by McGlone Suttner Wealth Management Inc.

McGlone Suttner Wealth Management Inc. acquired a new position in Centene Corporation (NYSE:CNC) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 10,938 shares of the company’s stock, valued at approximately $679,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sivik Global Healthcare LLC acquired a new position in Centene in the third quarter valued at about $4,970,000. Sax Wealth Advisors LLC acquired a new position in shares of Centene during the 3rd quarter worth about $281,000. Fragasso Financial Advisors Inc grew its position in shares of Centene by 36.4% during the 3rd quarter. Fragasso Financial Advisors Inc now owns 11,449 shares of the company’s stock worth $711,000 after buying an additional 3,054 shares during the period. Fermata Advisors LLC increased its stake in shares of Centene by 18.3% in the 3rd quarter. Fermata Advisors LLC now owns 4,239 shares of the company’s stock valued at $263,000 after acquiring an additional 655 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC increased its stake in shares of Centene by 12.1% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 69,398 shares of the company’s stock valued at $4,311,000 after acquiring an additional 7,477 shares during the last quarter. 93.63% of the stock is owned by institutional investors.

Centene Stock Up 3.7%

CNC stock traded up $2.46 during trading hours on Tuesday, reaching $69.48. 2,427,616 shares of the stock were exchanged, compared to its average volume of 5,643,640. The firm’s 50-day moving average is $65.05 and its 200-day moving average is $58.82. Centene Corporation has a 12 month low of $31.63 and a 12 month high of $69.63. The company has a market cap of $34.32 billion, a price-to-earnings ratio of -6.65, a PEG ratio of 0.41 and a beta of 1.13. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.15 and a quick ratio of 1.15.

Centene (NYSE:CNC) last posted its quarterly earnings data on Monday, July 27th. The company reported $2.51 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $53.58 billion during the quarter, compared to analysts’ expectations of $47.64 billion. During the same period in the prior year, the firm earned ($0.16) earnings per share. Centene’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, equities research analysts expect that Centene Corporation will post 4.89 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Centene in a research report on Friday. HC Wainwright restated a “buy” rating on shares of Centene in a report on Friday, September 11th. Raymond James Financial set a $75.00 price objective on shares of Centene in a report on Tuesday, July 7th. Truist Financial upped their target price on shares of Centene from $71.00 to $78.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Finally, Wells Fargo & Company set a $69.00 target price on shares of Centene and gave the stock an “equal weight” rating in a report on Monday, July 13th. Nine equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $70.05.

Insider Buying and Selling

In other Centene news, General Counsel Christopher Koster sold 56,500 shares of Centene 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 of the company’s stock, valued at $16,648,332.60. The trade was a 18.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.37% of the stock is currently 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.