Tavio Capital LLC reduced its position in Centene Corporation (NYSE:CNC) by 50.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 178,756 shares of the company’s stock after selling 183,599 shares during the period. Centene Corporation comprises about 7.1% of Tavio Capital LLC’s holdings, making the stock its 7th largest position. Tavio Capital LLC owned 0.10% of Centene Corporation worth $14,279,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. BlackRock Inc. raised its position in Centene Corporation by 3,408.1% in the first quarter. BlackRock Inc. now owns 15,510,470 shares of the company’s stock worth $1,105,275,000 after buying an additional 15,068,340 shares during the last quarter. OppenheimerFunds Inc. raised its position in Centene Corporation by 271.2% in the first quarter. OppenheimerFunds Inc. now owns 1,799,160 shares of the company’s stock worth $128,208,000 after buying an additional 1,314,514 shares during the last quarter. Pioneer Investment Management Inc. raised its position in Centene Corporation by 1,534.7% in the first quarter. Pioneer Investment Management Inc. now owns 1,369,670 shares of the company’s stock worth $97,603,000 after buying an additional 1,285,885 shares during the last quarter. AQR Capital Management LLC raised its position in Centene Corporation by 108.0% in the first quarter. AQR Capital Management LLC now owns 2,088,867 shares of the company’s stock worth $148,853,000 after buying an additional 1,084,628 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new position in Centene Corporation during the first quarter worth approximately $55,478,000. Institutional investors and hedge funds own 93.60% of the company’s stock.
Shares of Centene Corporation (NYSE:CNC) opened at 79.42 on Tuesday. Centene Corporation has a 12-month low of $50.00 and a 12-month high of $87.94. The firm’s 50-day moving average price is $81.41 and its 200-day moving average price is $73.49. The firm has a market capitalization of $13.70 billion, a P/E ratio of 17.43 and a beta of 0.67.
Centene Corporation (NYSE:CNC) last announced its earnings results on Tuesday, July 25th. The company reported $1.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.30 by $0.29. Centene Corporation had a net margin of 1.72% and a return on equity of 14.62%. The company had revenue of $11.95 billion for the quarter, compared to analysts’ expectations of $11.69 billion. During the same period last year, the firm earned $1.29 earnings per share. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. Equities analysts predict that Centene Corporation will post $4.87 earnings per share for the current fiscal year.
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A number of equities analysts have recently commented on CNC shares. Zacks Investment Research lowered Centene Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, May 10th. Deutsche Bank AG started coverage on Centene Corporation in a research note on Wednesday, April 5th. They issued a “buy” rating and a $84.00 price objective on the stock. Morgan Stanley started coverage on Centene Corporation in a research note on Tuesday, June 6th. They issued an “overweight” rating and a $86.00 price objective on the stock. Evercore ISI lifted their price objective on Centene Corporation from $80.00 to $83.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 26th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $79.00 price objective on shares of Centene Corporation in a research note on Wednesday, April 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $86.82.
In other news, Director Robert K. Ditmore sold 3,900 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $75.43, for a total transaction of $294,177.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Mark J. Brooks sold 2,161 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $75.43, for a total transaction of $163,004.23. The disclosure for this sale can be found here. Insiders have sold 49,578 shares of company stock worth $3,947,037 over the last ninety days. Insiders own 3.00% of the company’s stock.
About Centene Corporation
Centene Corporation is a healthcare company. The Company provides a portfolio of services to government sponsored healthcare programs, focusing on under-insured and uninsured individuals. The Company operates through two segments: Managed Care and Specialty Services. The Company’s Managed Care segment provides health plan coverage to individuals, through government subsidized programs, including Medicaid, the State Children’s Health Insurance Program (CHIP), Long Term Care, Foster Care, dual-eligible individuals (Duals) and the Supplemental Security Income Program, also known as the Aged, Blind or Disabled Program (ABD), Medicare, and Health Insurance Marketplace.
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