CrestPoint Capital Management LLC Sells 2,400 Shares of Centene Corporation (CNC)

CrestPoint Capital Management LLC reduced its stake in Centene Corporation (NYSE:CNC) by 19.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,700 shares of the company’s stock after selling 2,400 shares during the quarter. CrestPoint Capital Management LLC’s holdings in Centene were worth $979,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mckinley Capital Management LLC Delaware purchased a new position in shares of Centene in the 2nd quarter worth about $101,000. Baldwin Brothers Inc. MA acquired a new stake in Centene during the 3rd quarter valued at approximately $185,000. Sii Investments Inc. WI acquired a new stake in Centene during the 2nd quarter valued at approximately $202,000. Calamos Advisors LLC acquired a new stake in Centene during the 3rd quarter valued at approximately $207,000. Finally, Commerzbank Aktiengesellschaft FI acquired a new position in shares of Centene in the 3rd quarter worth approximately $207,000. Hedge funds and other institutional investors own 92.16% of the company’s stock.

In related news, EVP Keith H. Williamson sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $100.11, for a total value of $500,550.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert K. Ditmore sold 4,167 shares of the firm’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $90.42, for a total transaction of $376,780.14. The disclosure for this sale can be found here. Insiders sold a total of 27,917 shares of company stock valued at $2,777,255 in the last 90 days. 3.00% of the stock is owned by corporate insiders.

Several brokerages recently issued reports on CNC. Goldman Sachs Group began coverage on Centene in a report on Wednesday, January 3rd. They issued a “buy” rating and a $135.00 price target on the stock. Oppenheimer reaffirmed a “buy” rating and set a $111.00 target price on shares of Centene in a research note on Friday, December 15th. Zacks Investment Research upgraded Centene from a “hold” rating to a “strong-buy” rating and set a $117.00 price target on the stock in a research report on Tuesday, December 26th. BMO Capital Markets began coverage on Centene in a report on Tuesday, October 17th. They issued an “outperform” rating and a $120.00 target price on the stock. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $107.00 target price on shares of Centene in a report on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Centene presently has a consensus rating of “Buy” and a consensus target price of $104.21.

Shares of Centene Corporation (CNC) traded down $0.18 during midday trading on Wednesday, hitting $109.30. The stock had a trading volume of 1,190,900 shares, compared to its average volume of 1,067,630. The company has a market cap of $18,892.58, a PE ratio of 22.40, a price-to-earnings-growth ratio of 1.35 and a beta of 0.70. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.99 and a quick ratio of 0.99. Centene Corporation has a 12 month low of $61.37 and a 12 month high of $111.62.

Centene (NYSE:CNC) last announced its quarterly earnings data on Tuesday, October 24th. The company reported $1.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.11. The company had revenue of $11.90 billion during the quarter, compared to analysts’ expectations of $11.75 billion. Centene had a return on equity of 14.79% and a net margin of 1.81%. Centene’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.12 EPS. sell-side analysts anticipate that Centene Corporation will post 5 earnings per share for the current fiscal year.

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Centene Profile

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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Institutional Ownership by Quarter for Centene (NYSE:CNC)

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