Centene Co. (NYSE:CNC) Shares Purchased by Davis Capital Management

Davis Capital Management grew its holdings in shares of Centene Co. (NYSE:CNC) by 13.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,352 shares of the company’s stock after purchasing an additional 1,903 shares during the quarter. Davis Capital Management’s holdings in Centene were worth $1,068,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Turtle Creek Wealth Advisors LLC bought a new position in shares of Centene during the 4th quarter valued at $25,000. Rise Advisors LLC bought a new position in shares of Centene during the 1st quarter valued at $25,000. Riggs Asset Managment Co. Inc. bought a new position in shares of Centene during the 4th quarter valued at $32,000. Neo Ivy Capital Management bought a new position in shares of Centene during the 4th quarter valued at $40,000. Finally, Access Investment Management LLC bought a new position in shares of Centene during the 4th quarter valued at $44,000. Institutional investors own 93.63% of the company’s stock.

Insider Buying and Selling at Centene

In other Centene news, Director Christopher J. Coughlin sold 878 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $76.75, for a total value of $67,386.50. Following the transaction, the director now directly owns 25,504 shares in the company, valued at $1,957,432. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Centene news, Director Christopher J. Coughlin sold 878 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $76.75, for a total value of $67,386.50. Following the transaction, the director now directly owns 25,504 shares in the company, valued at $1,957,432. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, President Kenneth J. Fasola sold 8,000 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $77.62, for a total transaction of $620,960.00. Following the completion of the transaction, the president now owns 300,357 shares in the company, valued at $23,313,710.34. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CNC shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $90.00 target price on shares of Centene in a report on Tuesday, July 23rd. Stephens reiterated an “equal weight” rating and issued a $83.00 target price on shares of Centene in a report on Thursday, May 30th. Jefferies Financial Group downgraded shares of Centene from a “buy” rating to a “hold” rating and dropped their target price for the stock from $83.00 to $69.00 in a report on Wednesday, July 24th. Truist Financial dropped their target price on shares of Centene from $92.00 to $89.00 and set a “buy” rating on the stock in a report on Monday, July 15th. Finally, Wells Fargo & Company dropped their target price on shares of Centene from $93.00 to $81.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Nine research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.86.

Centene Price Performance

Shares of Centene stock traded up $0.18 during trading on Friday, hitting $78.09. 4,553,212 shares of the company’s stock traded hands, compared to its average volume of 4,435,288. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.17 and a quick ratio of 1.17. The firm’s fifty day moving average price is $68.98 and its 200 day moving average price is $73.63. Centene Co. has a twelve month low of $60.83 and a twelve month high of $81.42. The company has a market cap of $41.08 billion, a PE ratio of 15.52, a PEG ratio of 1.00 and a beta of 0.50.

Centene (NYSE:CNC) last issued its earnings results on Friday, July 26th. The company reported $2.42 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.02). The business had revenue of $39.84 billion for the quarter, compared to analyst estimates of $36.83 billion. Centene had a net margin of 1.79% and a return on equity of 14.45%. Centene’s revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.10 earnings per share. Analysts forecast that Centene Co. will post 6.84 earnings per share for the current year.

Centene Profile

Centene Corporation operates as a healthcare enterprise that provides programs and services to under-insured and uninsured families, commercial organizations, and military families in the United States. The company operates through Medicaid, Medicare, Commercial, and Other segments. The Medicaid segment offers health plan coverage, including medicaid expansion, aged, blind, disabled, children's health insurance program, foster care, medicare-medicaid plans, long-term services and support.