Hillsdale Investment Management Inc. Sells 200 Shares of Centene Co. (NYSE:CNC)

Hillsdale Investment Management Inc. lowered its position in shares of Centene Co. (NYSE:CNC) by 2.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,945 shares of the company’s stock after selling 200 shares during the period. Hillsdale Investment Management Inc.’s holdings in Centene were worth $624,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rise Advisors LLC bought a new stake in shares of Centene during the first quarter valued at approximately $25,000. Turtle Creek Wealth Advisors LLC bought a new stake in Centene in the 4th quarter worth approximately $25,000. Riggs Asset Managment Co. Inc. bought a new stake in Centene in the 4th quarter worth approximately $32,000. Neo Ivy Capital Management bought a new stake in Centene in the 4th quarter worth approximately $40,000. Finally, Access Investment Management LLC bought a new stake in Centene in the 4th quarter worth approximately $44,000. Institutional investors own 93.63% of the company’s stock.

Centene Price Performance

Shares of CNC traded down $2.26 during midday trading on Tuesday, hitting $63.88. 1,965,116 shares of the company traded hands, compared to its average volume of 3,378,326. The firm has a 50 day moving average of $69.81 and a 200-day moving average of $73.98. Centene Co. has a 52 week low of $60.83 and a 52 week high of $81.42. The stock has a market cap of $34.09 billion, a price-to-earnings ratio of 13.15, a PEG ratio of 0.86 and a beta of 0.50. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.17 and a current ratio of 1.17.

Centene (NYSE:CNC) last released its quarterly earnings data on Friday, April 26th. The company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.09 by $0.17. Centene had a net margin of 1.76% and a return on equity of 14.19%. The business had revenue of $40.41 billion during the quarter, compared to the consensus estimate of $36.43 billion. During the same quarter in the prior year, the firm earned $2.11 EPS. The business’s revenue was up 3.9% on a year-over-year basis. On average, analysts forecast that Centene Co. will post 6.8 EPS for the current fiscal year.

Insider Buying and Selling at Centene

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CNC shares. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Centene from $81.00 to $82.00 and gave the stock a “hold” rating in a research report on Tuesday, April 30th. StockNews.com lowered Centene from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 18th. Baird R W upgraded Centene to a “hold” rating in a research note on Thursday, May 30th. Cantor Fitzgerald restated an “overweight” rating and issued a $90.00 price objective on shares of Centene in a research note on Wednesday, June 12th. Finally, Robert W. Baird started coverage on Centene in a research note on Thursday, May 30th. They issued a “neutral” rating and a $83.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $85.31.

About Centene

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.