Scott & Selber Inc. bought a new stake in shares of Centene Corp (NYSE:CNC) in the 2nd quarter, Holdings Channel reports. The firm bought 39,236 shares of the company’s stock, valued at approximately $2,058,000.

Several other hedge funds have also added to or reduced their stakes in the company. Huntington National Bank raised its holdings in Centene by 110.7% in the 1st quarter. Huntington National Bank now owns 472 shares of the company’s stock worth $25,000 after acquiring an additional 248 shares during the last quarter. Toth Financial Advisory Corp raised its holdings in Centene by 100.0% in the 1st quarter. Toth Financial Advisory Corp now owns 480 shares of the company’s stock worth $25,000 after acquiring an additional 240 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Centene in the 1st quarter worth approximately $27,000. Shamrock Asset Management LLC raised its holdings in Centene by 100.0% in the 1st quarter. Shamrock Asset Management LLC now owns 522 shares of the company’s stock worth $28,000 after acquiring an additional 261 shares during the last quarter. Finally, Camarda Financial Advisors LLC raised its holdings in Centene by 112.5% in the 1st quarter. Camarda Financial Advisors LLC now owns 612 shares of the company’s stock worth $32,000 after acquiring an additional 324 shares during the last quarter. Hedge funds and other institutional investors own 89.86% of the company’s stock.

In other Centene news, Director Jessica L. Blume acquired 2,850 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was purchased at an average price of $52.99 per share, with a total value of $151,021.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.50% of the company’s stock.

Shares of CNC stock traded up $1.88 during mid-day trading on Tuesday, reaching $49.86. 2,957,456 shares of the company’s stock traded hands, compared to its average volume of 4,948,466. Centene Corp has a 12 month low of $45.44 and a 12 month high of $74.49. The firm’s 50 day moving average price is $52.00. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.58. The stock has a market cap of $20.14 billion, a price-to-earnings ratio of 14.08, a PEG ratio of 0.78 and a beta of 0.83.

Centene (NYSE:CNC) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.10. Centene had a net margin of 1.84% and a return on equity of 15.87%. The firm had revenue of $18.36 billion during the quarter, compared to the consensus estimate of $18.02 billion. During the same quarter in the previous year, the firm posted $0.90 EPS. The company’s revenue for the quarter was up 29.4% compared to the same quarter last year. On average, research analysts anticipate that Centene Corp will post 4.41 earnings per share for the current year.

A number of equities analysts recently weighed in on CNC shares. Cantor Fitzgerald restated a “buy” rating and issued a $83.00 price objective on shares of Centene in a report on Sunday, April 21st. Morgan Stanley decreased their price objective on shares of Centene from $75.00 to $71.00 and set an “overweight” rating for the company in a report on Friday, July 12th. SunTrust Banks decreased their price objective on shares of Centene to $80.00 and set a “buy” rating for the company in a report on Wednesday, April 24th. Zacks Investment Research lowered shares of Centene from a “buy” rating to a “hold” rating and set a $59.00 price objective for the company. in a report on Wednesday, May 29th. Finally, ValuEngine lowered shares of Centene from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $75.26.

About Centene

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.

Further Reading: Gross Domestic Product (GDP)

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Institutional Ownership by Quarter for Centene (NYSE:CNC)

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