November 29, 2016 - By Marie Mckinney · 0 Comments
Centene Corp (NYSE:CNC) institutional sentiment decreased to 0.8 in 2016 Q2. Its down -0.03, from 0.83 in 2016Q1. The ratio dived, as 218 funds started new or increased positions, while 262 sold and decreased holdings in Centene Corp. The funds in our partner’s database now hold: 147.39 million shares, down from 158.68 million shares in 2016Q1. Also, the number of funds holding Centene Corp in their top 10 positions increased from 14 to 17 for an increase of 3. Sold All: 77 Reduced: 185 Increased: 154 New Position: 64.
Centene Corporation is a diversified healthcare firm that provides programs and services to government sponsored healthcare programs. The company has a market cap of $9.51 billion. The Firm also provides education and outreach programs to inform and assist members in accessing appropriate healthcare services. It has a 21.96 P/E ratio. The Firm operates through two divisions.
About 498,516 shares traded hands. Centene Corp (NYSE:CNC) has declined 16.88% since April 26, 2016 and is downtrending. It has underperformed by 22.14% the S&P500.
Analysts await Centene Corp (NYSE:CNC) to report earnings on February, 7 before the open. They expect $1.12 EPS, up 17.89% or $0.17 from last year’s $0.95 per share. CNC’s profit will be $186.90M for 12.72 P/E if the $1.12 EPS becomes a reality. After $1.11 actual EPS reported by Centene Corp for the previous quarter, Wall Street now forecasts 0.90% EPS growth.
According to Zacks Investment Research, “Centene Corporation provides managed care programs and related services to individuals receiving benefits under Medicaid, including Supplemental Security Income, and the State Children’s Health Insurance Program.”
Southernsun Asset Management Llc holds 6.15% of its portfolio in Centene Corp for 3.28 million shares. Cortland Associates Inc Mo owns 263,617 shares or 4.13% of their US portfolio. Moreover, Train Babcock Advisors Llc has 3.62% invested in the company for 127,573 shares. The New York-based Bridger Management Llc has invested 3.5% in the stock. Hellman Jordan Management Co Inc Ma, a Massachusetts-based fund reported 23,649 shares.#img1#
Insider Transactions: Since January 1, 0001, the stock had 1 buy, and 6 selling transactions for $3.15 million net activity.
Ratings analysis reveals 75% of Centene Corporation’s analysts are positive. Out of 12 Wall Street analysts rating Centene Corporation, 9 give it “Buy”, 1 “Sell” rating, while 2 recommend “Hold”. The lowest target is $69 while the high is $86. The stock’s average target of $78 is 36.87% above today’s ($56.99) share price. CNC was included in 18 notes of analysts from July 22, 2015. On Wednesday, June 29 the stock rating was upgraded by Morgan Stanley to “Overweight”. The company was maintained on Friday, January 8 by Jefferies. Bernstein upgraded the shares of CNC in a report on Monday, November 14 to “Outperform” rating. The company was initiated on Friday, October 2 by Citigroup. UBS upgraded Centene Corp (NYSE:CNC) on Monday, July 27 to “Buy” rating. The stock of Centene Corp (NYSE:CNC) earned “Outperform” rating by Cowen & Co on Monday, April 25. Bernstein initiated Centene Corp (NYSE:CNC) on Thursday, June 16 with “Market Perform” rating. The rating was downgraded by Credit Suisse on Friday, November 11 to “Neutral”. Leerink Swann downgraded the stock to “Mkt Perform” rating in Tuesday, September 6 report. The rating was maintained by Barclays Capital with “Equal-Weight” on Wednesday, January 6.
Centene Corporation, incorporated on September 26, 2001, is a diversified healthcare firm that provides programs and services to government sponsored healthcare programs. The Firm offers member-focused services by assisting in accessing care, coordinating referrals to related health and social services, and addressing member concerns and questions. It also provides education and outreach programs to inform and assist members in accessing appropriate healthcare services. The Firm operates through two divisions: Managed Care and Specialty Services. The Managed Care segment consists of the Company’s health plans, including all of the functions needed to operate them. The Specialty Services segment consists of the Company’s specialty companies offering auxiliary healthcare services and products.
More notable recent Centene Corp (NYSE:CNC) news were published by: Businesswire.com which released: “Robbins Arroyo LLP: Centene Corporation (CNC) Misled Shareholders According to …” on November 23, 2016, also Prnewswire.com with their article: “Centene Corporation To Provide 2017 Financial Guidance And Host Investor …” published on November 15, 2016, Bizjournals.com published: “Sacramento shortlisted for 1500 jobs from managed health care company (Update)” on November 18, 2016. More interesting news about Centene Corp (NYSE:CNC) were released by: Prnewswire.com and their article: “Centene Corporation To Present At Credit Suisse And Stifel Healthcare …” published on October 31, 2016 as well as Bizjournals.com‘s news article titled: “Centene shortlists Sacramento for 1500 jobs” with publication date: November 18, 2016.
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By Marie Mckinney