Graphene Investments SAS Purchases 10,300 Shares of Centene Co. (NYSE:CNC)

Graphene Investments SAS increased its holdings in shares of Centene Co. (NYSE:CNC - Free Report) by 24.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,600 shares of the company's stock after buying an additional 10,300 shares during the period. Centene comprises approximately 2.2% of Graphene Investments SAS's investment portfolio, making the stock its 8th largest holding. Graphene Investments SAS's holdings in Centene were worth $3,126,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Park Place Capital Corp raised its stake in Centene by 1,190.0% in the 3rd quarter. Park Place Capital Corp now owns 387 shares of the company's stock valued at $29,000 after purchasing an additional 357 shares during the last quarter. Private Trust Co. NA raised its position in shares of Centene by 75.3% in the third quarter. Private Trust Co. NA now owns 773 shares of the company's stock valued at $58,000 after buying an additional 332 shares during the last quarter. True Wealth Design LLC acquired a new position in Centene during the third quarter worth about $66,000. R Squared Ltd purchased a new stake in Centene during the 4th quarter valued at about $82,000. Finally, Venturi Wealth Management LLC lifted its stake in Centene by 77.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,163 shares of the company's stock worth $88,000 after purchasing an additional 507 shares in the last quarter. Hedge funds and other institutional investors own 93.63% of the company's stock.

Insider Activity at Centene

In other news, Director Thomas Greco acquired 17,000 shares of the company's stock in a transaction on Wednesday, December 18th. The shares were bought at an average cost of $59.75 per share, with a total value of $1,015,750.00. Following the transaction, the director now owns 19,309 shares in the company, valued at approximately $1,153,712.75. This trade represents a 736.25 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director H James Dallas acquired 1,693 shares of the firm's stock in a transaction dated Monday, December 16th. The shares were purchased at an average cost of $59.01 per share, with a total value of $99,903.93. Following the completion of the transaction, the director now owns 1,693 shares in the company, valued at approximately $99,903.93. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 40,893 shares of company stock worth $2,409,962. Company insiders own 0.33% of the company's stock.

Centene Trading Down 0.1 %

Centene stock traded down $0.04 during midday trading on Monday, reaching $58.90. 3,451,076 shares of the stock traded hands, compared to its average volume of 4,396,307. The firm has a market cap of $29.73 billion, a PE ratio of 9.44, a price-to-earnings-growth ratio of 0.79 and a beta of 0.45. Centene Co. has a 12-month low of $55.03 and a 12-month high of $81.42. The company has a current ratio of 1.11, a quick ratio of 1.10 and a debt-to-equity ratio of 0.70. The company has a 50-day simple moving average of $61.23 and a two-hundred day simple moving average of $66.97.

Centene (NYSE:CNC - Get Free Report) last announced its earnings results on Tuesday, February 4th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.31. The firm had revenue of $40.81 billion for the quarter, compared to the consensus estimate of $38.78 billion. Centene had a net margin of 2.03% and a return on equity of 13.85%. The firm's revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.45 EPS. Research analysts expect that Centene Co. will post 6.97 earnings per share for the current fiscal year.

Analyst Ratings Changes

CNC has been the subject of several recent research reports. Barclays increased their price target on Centene from $91.00 to $93.00 and gave the company an "overweight" rating in a report on Friday, December 13th. Robert W. Baird lifted their price target on Centene from $66.00 to $71.00 in a report on Tuesday, February 4th. Cantor Fitzgerald reissued an "overweight" rating and issued a $90.00 price objective on shares of Centene in a report on Wednesday, December 11th. Sanford C. Bernstein reduced their target price on shares of Centene from $96.00 to $88.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group downgraded shares of Centene from a "hold" rating to an "underperform" rating and cut their price target for the stock from $68.00 to $52.00 in a report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $81.31.

Centene 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.