State of Wisconsin Investment Board Has $23.14 Million Stake in Centene Co. (CNC)

State of Wisconsin Investment Board cut its position in Centene Co. (NYSE:CNC) by 3.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 216,511 shares of the company’s stock after selling 7,411 shares during the quarter. State of Wisconsin Investment Board owned 0.12% of Centene worth $23,138,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in CNC. Focused Wealth Management Inc boosted its stake in shares of Centene by 900.0% in the fourth quarter. Focused Wealth Management Inc now owns 1,000 shares of the company’s stock valued at $101,000 after purchasing an additional 900 shares during the period. Financial Gravity Companies Inc. purchased a new position in shares of Centene in the fourth quarter valued at $112,000. We Are One Seven LLC purchased a new position in shares of Centene in the fourth quarter valued at $114,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Centene in the fourth quarter valued at $131,000. Finally, Tower Research Capital LLC TRC purchased a new position in shares of Centene in the fourth quarter valued at $145,000. Institutional investors and hedge funds own 77.63% of the company’s stock.

CNC has been the subject of several analyst reports. Cantor Fitzgerald upped their target price on shares of Centene from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. Leerink Swann restated a “market perform” rating and issued a $90.00 target price (down from $100.00) on shares of Centene in a research note on Tuesday, February 13th. Morgan Stanley upped their target price on shares of Centene from $126.00 to $127.00 and gave the company an “overweight” rating in a research note on Wednesday, April 25th. BMO Capital Markets restated a “buy” rating on shares of Centene in a research note on Monday, March 26th. Finally, Citigroup restated an “outperform” rating and issued a $130.00 target price (up from $122.00) on shares of Centene in a research note on Wednesday, February 7th. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $113.63.

In other Centene news, CEO Michael F. Neidorff sold 250,000 shares of the stock in a transaction on Thursday, April 26th. The shares were sold at an average price of $108.20, for a total transaction of $27,050,000.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Keith H. Williamson sold 1,000 shares of the stock in a transaction on Friday, April 27th. The stock was sold at an average price of $110.00, for a total transaction of $110,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 265,550 shares of company stock worth $28,712,209 over the last quarter. 3.00% of the stock is currently owned by insiders.

NYSE CNC opened at $113.10 on Wednesday. Centene Co. has a 12 month low of $112.82 and a 12 month high of $114.23. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap of $23.54 billion, a price-to-earnings ratio of 22.49, a P/E/G ratio of 1.11 and a beta of 0.75.

Centene (NYSE:CNC) last posted its quarterly earnings data on Tuesday, April 24th. The company reported $2.17 EPS for the quarter, beating the Zacks’ consensus estimate of $1.92 by $0.25. Centene had a net margin of 2.06% and a return on equity of 15.69%. The firm had revenue of $13.19 billion for the quarter, compared to the consensus estimate of $13.33 billion. During the same period in the prior year, the firm posted $1.12 EPS. The firm’s revenue was up 12.5% compared to the same quarter last year. research analysts expect that Centene Co. will post 7.07 EPS for the current fiscal year.

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.

Institutional Ownership by Quarter for Centene (NYSE:CNC)

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