Centene Co. (NYSE:CNC) Shares Sold by Bellevue Group AG

Bellevue Group AG cut its holdings in shares of Centene Co. (NYSE:CNC - Free Report) by 79.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 86,708 shares of the company's stock after selling 334,750 shares during the period. Bellevue Group AG's holdings in Centene were worth $6,527,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in CNC. Atria Investments Inc increased its stake in shares of Centene by 13.3% in the 1st quarter. Atria Investments Inc now owns 25,030 shares of the company's stock valued at $1,964,000 after purchasing an additional 2,944 shares in the last quarter. Cetera Investment Advisers boosted its position in shares of Centene by 526.7% during the 1st quarter. Cetera Investment Advisers now owns 56,230 shares of the company's stock worth $4,413,000 after purchasing an additional 47,257 shares during the period. Cetera Advisors LLC raised its stake in shares of Centene by 24.7% in the first quarter. Cetera Advisors LLC now owns 20,800 shares of the company's stock valued at $1,632,000 after acquiring an additional 4,122 shares in the last quarter. Transcend Capital Advisors LLC purchased a new position in Centene in the second quarter valued at $823,000. Finally, GAMMA Investing LLC increased its holdings in Centene by 11.8% during the 2nd quarter. GAMMA Investing LLC now owns 2,850 shares of the company's stock worth $189,000 after purchasing an additional 301 shares during the period. 93.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Robert W. Baird lowered their price objective on Centene from $83.00 to $66.00 and set a "neutral" rating for the company in a research report on Friday, October 25th. StockNews.com cut shares of Centene from a "strong-buy" rating to a "buy" rating in a report on Monday, October 28th. Cantor Fitzgerald restated an "overweight" rating and issued a $90.00 price objective on shares of Centene in a report on Tuesday, October 1st. Sanford C. Bernstein lowered their target price on shares of Centene from $96.00 to $88.00 and set an "outperform" rating for the company in a research note on Wednesday, October 30th. Finally, Stephens restated an "equal weight" rating and issued a $78.00 price target on shares of Centene in a research note on Monday, August 5th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Centene has a consensus rating of "Moderate Buy" and a consensus price target of $83.92.

Insider Activity

In related news, CFO Andrew Lynn Asher purchased 17,200 shares of the company's stock in a transaction that occurred on Wednesday, November 13th. The shares were purchased at an average price of $58.14 per share, for a total transaction of $1,000,008.00. Following the transaction, the chief financial officer now directly owns 486,847 shares of the company's stock, valued at approximately $28,305,284.58. The trade was a 3.66 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sarah London bought 4,117 shares of the company's stock in a transaction dated Friday, November 8th. The stock was bought at an average cost of $60.80 per share, for a total transaction of $250,313.60. Following the acquisition, the chief executive officer now owns 667,229 shares of the company's stock, valued at approximately $40,567,523.20. This trade represents a 0.62 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.33% of the company's stock.

Centene Stock Performance

Shares of NYSE CNC traded up $0.07 during trading hours on Friday, reaching $60.00. The stock had a trading volume of 2,380,159 shares, compared to its average volume of 5,911,406. The firm has a 50-day moving average of $65.11 and a 200-day moving average of $69.88. The firm has a market cap of $30.29 billion, a price-to-earnings ratio of 10.42, a PEG ratio of 0.82 and a beta of 0.49. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.64. Centene Co. has a fifty-two week low of $57.20 and a fifty-two week high of $81.42.

Centene Company 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.