Schonfeld Strategic Advisors LLC Purchases 196,876 Shares of Centene Corp (NYSE:CNC)

Schonfeld Strategic Advisors LLC lifted its position in Centene Corp (NYSE:CNC) by 393.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 246,876 shares of the company’s stock after acquiring an additional 196,876 shares during the period. Schonfeld Strategic Advisors LLC’s holdings in Centene were worth $15,689,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Kistler Tiffany Companies LLC bought a new position in shares of Centene in the 2nd quarter worth approximately $28,000. Smithfield Trust Co. grew its stake in shares of Centene by 77.7% in the 2nd quarter. Smithfield Trust Co. now owns 487 shares of the company’s stock worth $31,000 after buying an additional 213 shares during the last quarter. Jackson Square Capital LLC grew its stake in shares of Centene by 58.9% in the 2nd quarter. Jackson Square Capital LLC now owns 637 shares of the company’s stock worth $40,000 after buying an additional 236 shares during the last quarter. Flagship Harbor Advisors LLC grew its stake in shares of Centene by 113.9% in the 1st quarter. Flagship Harbor Advisors LLC now owns 708 shares of the company’s stock worth $42,000 after buying an additional 377 shares during the last quarter. Finally, Evolution Wealth Advisors LLC grew its stake in shares of Centene by 39.0% in the 2nd quarter. Evolution Wealth Advisors LLC now owns 766 shares of the company’s stock worth $49,000 after buying an additional 215 shares during the last quarter. 92.60% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Tommy G. Thompson sold 1,500 shares of the firm’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $64.13, for a total value of $96,195.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kenneth A. Burdick sold 35,000 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $63.33, for a total value of $2,216,550.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 126,127 shares of company stock worth $8,146,586. Company insiders own 1.90% of the company’s stock.

Several research firms recently weighed in on CNC. Deutsche Bank upped their price target on Centene from $80.00 to $87.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Jefferies Financial Group cut their price target on Centene from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Wednesday, July 29th. Oppenheimer began coverage on Centene in a research note on Friday, June 12th. They set a “buy” rating and a $90.00 target price on the stock. SVB Leerink began coverage on Centene in a research note on Wednesday, July 1st. They set an “outperform” rating and a $78.00 target price on the stock. Finally, ValuEngine downgraded Centene from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Centene presently has a consensus rating of “Buy” and a consensus price target of $82.92.

Shares of CNC stock traded up $1.72 on Wednesday, reaching $59.90. The stock had a trading volume of 4,435,108 shares, compared to its average volume of 4,758,630. The stock has a market cap of $34.71 billion, a P/E ratio of 21.04, a price-to-earnings-growth ratio of 0.85 and a beta of 0.61. Centene Corp has a 1 year low of $41.62 and a 1 year high of $74.70. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.22. The company has a 50 day simple moving average of $61.99 and a 200 day simple moving average of $62.78.

Centene (NYSE:CNC) last released its quarterly earnings results on Tuesday, July 28th. The company reported $2.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.43 by ($0.03). The firm had revenue of $27.71 billion during the quarter, compared to analysts’ expectations of $27.48 billion. Centene had a return on equity of 14.07% and a net margin of 1.70%. The business’s quarterly revenue was up 51.0% on a year-over-year basis. During the same quarter last year, the business earned $1.34 earnings per share. On average, equities research analysts anticipate that Centene Corp will post 4.88 earnings per share for the current fiscal year.

Centene Profile

Centene Corporation operates as a diversified and multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. The company's Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term services and support, foster care, and medicare-medicaid plans, which covers dually eligible individuals, as well as aged, blind, or disabled programs.

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Institutional Ownership by Quarter for Centene (NYSE:CNC)

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