Duality Advisers LP Acquires Shares of 29,695 Centene Corp (NYSE:CNC)

Duality Advisers LP purchased a new position in shares of Centene Corp (NYSE:CNC) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 29,695 shares of the company’s stock, valued at approximately $1,887,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. MBM Wealth Consultants LLC increased its position in Centene by 3.3% during the first quarter. MBM Wealth Consultants LLC now owns 5,611 shares of the company’s stock worth $334,000 after buying an additional 181 shares in the last quarter. Cim Investment Mangement Inc. boosted its holdings in Centene by 3.2% in the first quarter. Cim Investment Mangement Inc. now owns 6,125 shares of the company’s stock valued at $364,000 after acquiring an additional 188 shares during the last quarter. Allworth Financial LP boosted its holdings in Centene by 5.3% in the first quarter. Allworth Financial LP now owns 3,964 shares of the company’s stock valued at $236,000 after acquiring an additional 200 shares during the last quarter. CWM LLC boosted its holdings in Centene by 7.2% in the first quarter. CWM LLC now owns 3,118 shares of the company’s stock valued at $185,000 after acquiring an additional 210 shares during the last quarter. Finally, Parallel Advisors LLC boosted its holdings in Centene by 8.9% in the second quarter. Parallel Advisors LLC now owns 2,575 shares of the company’s stock valued at $163,000 after acquiring an additional 211 shares during the last quarter. Institutional investors and hedge funds own 93.58% of the company’s stock.

Shares of NYSE:CNC opened at $65.25 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.22 and a quick ratio of 1.14. The stock has a market cap of $37.79 billion, a price-to-earnings ratio of 22.89, a P/E/G ratio of 0.95 and a beta of 0.73. The company has a 50 day moving average of $64.50 and a 200-day moving average of $63.43. Centene Corp has a one year low of $41.62 and a one year high of $74.70.

Centene (NYSE:CNC) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $2.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.03). Centene had a net margin of 1.70% and a return on equity of 14.07%. The business had revenue of $27.71 billion during the quarter, compared to the consensus estimate of $27.48 billion. During the same period in the previous year, the business posted $1.34 earnings per share. Centene’s revenue was up 51.0% compared to the same quarter last year. Equities research analysts anticipate that Centene Corp will post 4.89 earnings per share for the current year.

A number of research analysts recently weighed in on the company. TheStreet upgraded Centene from a “c+” rating to a “b” rating in a report on Wednesday, April 8th. Oppenheimer started coverage on Centene in a research report on Friday, June 12th. They set a “buy” rating and a $90.00 target price on the stock. Credit Suisse Group reissued a “hold” rating and set a $72.50 price target on shares of Centene in a research report on Wednesday, April 29th. Bank of America reissued a “buy” rating and set a $82.00 price target on shares of Centene in a research report on Wednesday, April 29th. Finally, Zacks Investment Research cut Centene from a “buy” rating to a “hold” rating and set a $72.00 target price on the stock. in a research note on Thursday, April 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $82.92.

In other news, EVP Kenneth A. Burdick sold 35,000 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $67.09, for a total value of $2,348,150.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Orlando Ayala sold 9,878 shares of the stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $65.36, for a total value of $645,626.08. The disclosure for this sale can be found here. In the last three months, insiders sold 222,861 shares of company stock worth $14,674,987. 1.90% of the stock is currently owned by company insiders.

Centene Company 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. The company's Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term services and support, foster care, and medicare-medicaid plans, which covers dually eligible individuals, as well as aged, blind, or disabled programs.

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Institutional Ownership by Quarter for Centene (NYSE:CNC)

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