Monument Capital Management Makes New $2.29 Million Investment in Centene Corporation $CNC

by · The Markets Daily

Monument Capital Management purchased a new stake in shares of Centene Corporation (NYSE:CNC – Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 36,895 shares of the company’s stock, valued at approximately $2,292,000.

Several other institutional investors have also recently bought and sold shares of the business. Deutsche Bank AG acquired a new position in Centene during the 2nd quarter valued at about $257,279,000. Hara Capital LLC purchased a new stake in shares of Centene in the second quarter worth approximately $5,222,000. Paralel Advisors LLC bought a new position in shares of Centene in the second quarter valued at approximately $4,531,000. Roberts Glore & Co. Inc. IL purchased a new position in shares of Centene during the second quarter valued at approximately $1,659,000. Finally, GSA Capital Partners LLP bought a new stake in Centene during the second quarter worth $2,134,000. Institutional investors and hedge funds own 93.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CNC. Raymond James Financial set a $75.00 price objective on Centene in a research note on Tuesday, July 7th. UBS Group set a $79.00 target price on shares of Centene in a report on Tuesday, August 18th. Robert W. Baird raised their price target on shares of Centene from $46.00 to $66.00 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. Zacks Research downgraded shares of Centene from a “strong-buy” rating to a “hold” rating in a research report on Monday. Finally, Argus upgraded shares of Centene from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a research note on Tuesday, August 11th. Nine equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $70.05.

View Our Latest Stock Analysis on CNC

Centene Trading Down 0.8%

NYSE CNC opened at $64.49 on Friday. The stock has a market capitalization of $31.86 billion, a price-to-earnings ratio of -6.18, a PEG ratio of 0.41 and a beta of 1.13. Centene Corporation has a one year low of $31.63 and a one year high of $69.63. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.15 and a quick ratio of 1.15. The business’s fifty day moving average is $64.92 and its 200-day moving average is $58.35.

Centene (NYSE:CNC – Get Free Report) last posted its quarterly earnings results on Monday, July 27th. The company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $1.09 by $1.42. The company had revenue of $53.58 billion during the quarter, compared to analyst estimates of $47.64 billion. Centene had a negative net margin of 2.51% and a positive return on equity of 12.12%. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.16) earnings per share. Equities research analysts predict that Centene Corporation will post 4.89 EPS for the current year.

Insider Activity

In related news, General Counsel Christopher Koster sold 56,500 shares of Centene stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $66.90, for a total value of $3,779,850.00. Following the sale, the general counsel owned 248,854 shares of the company’s stock, valued at approximately $16,648,332.60. The trade was a 18.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.37% of the stock is currently owned by insiders.

Centene Profile

(Free Report)

Centene Corporation (NYSE:CNC) is a healthcare enterprise that provides health insurance and related services, primarily through government-sponsored programs. Its offerings include Medicaid plans, Medicare products, health plans sold through the Affordable Care Act marketplace, and services for military families through government-sponsored healthcare programs.

The company also provides pharmacy, behavioral health, specialty healthcare, care management and administrative services through various subsidiaries and partner organizations.

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