Centene up sharply after $3.75B acquisition of Fidelis in NY

Cornelia Mascio
Settembre 13, 2017

Other large investors have also recently made changes to their positions in the company. Creative Planning boosted its holdings in Centene Corporation by 5.4% in the 1st quarter. Honeywell International Inc. now owns 356,700 shares of the company's stock worth $23,885,000 after buying an additional 222,400 shares during the period. Seven Bridges Advisors LLC acquired a new stake in Centene Corporation during the 2nd quarter valued at $123,000. Mn Services Vermogensbeheer B.V. lifted its stake in Centene Corporation by 3.7% in the 1st quarter. IFP Advisors Inc raised its stake in Centene Corporation by 9.6% during the 2nd quarter. State Treasurer State of MI increased its stake in Centene Corporation by 0.7% in the third quarter. Keybank National Association OH now owns 3,180 shares of the company's stock valued at $254,000 after buying an additional 36 shares during the period.

Several analysts have issued reports on the stock. Bank of America Corporation lifted their target price on shares of Centene Corporation from $93.00 to $95.00 and gave the stock a "buy" rating in a research report on Friday, July 14th. Zacks Investment Research downgraded Centene Corporation from a "hold" rating to a "sell" rating in a research report on Thursday, December 15th. BidaskClub lowered shares of Centene Corporation from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 1st. Centene Corporation has a consensus rating of "Buy" and an average target price of $77.67. The company presently has an average rating of "Buy" and an average target price of $86.94.

TRADEMARK VIOLATION WARNING: This piece was first reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. The correct version of this story can be accessed at https://weekherald.com/2017/09/13/centene-corporation-cnc-price-target-raised-to-107-00.html. Also, Chairman Michael F. Neidorff sold 35,000 shares of Centene Corporation stock in a transaction on Thursday, July 6th. The stock was sold at an average price of $58.00, for a total transaction of $63,742.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

In other news, EVP Christopher D. Bowers sold 4,000 shares of Centene Corporation stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $82.59, for a total value of $344,152.53. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,167 shares of company stock worth $3,470,973.

Shares of Centene Corporation (CNC) opened at 90.88 on Wednesday. Centene Corporation has a one year low of $50.00 and a one year high of $91.16. The firm has a market cap of $11.62 billion, a PE ratio of 19.72 and a beta of 0.69. The firm's 50-day moving average price is $62.58 and its 200 day moving average price is $63.24.

Centene Corporation (NYSE:CNC) last issued its quarterly earnings results on Tuesday, July 25th. The move is expected to improve the company's earnings per share, it said, and will close in the first quarter of 2018. Centene Corporation had a net margin of 1.37% and a return on equity of 12.83%. The business had revenue of $11.95 billion for the quarter, compared to analyst estimates of $11.69 billion. During the same period previous year, the company earned $1.29 EPS. The business's revenue for the quarter was up 9.7% on a year-over-year basis.

Centene shares are up more than 4 percent in pre-market trading.

Centene Corporation is a diversified healthcare company that provides programs and services to government sponsored healthcare programs.

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