Centene Co. (NYSE:CNC) Shares Purchased by Harris Associates L P

Harris Associates L P raised its holdings in Centene Co. (NYSE:CNC) by 5.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 26,314,183 shares of the company’s stock after buying an additional 1,420,825 shares during the quarter. Centene accounts for about 2.6% of Harris Associates L P’s investment portfolio, making the stock its 8th largest position. Harris Associates L P owned about 0.05% of Centene worth $1,980,932,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Park Place Capital Corp boosted its stake in shares of Centene by 1,190.0% during the 3rd quarter. Park Place Capital Corp now owns 387 shares of the company’s stock worth $29,000 after acquiring an additional 357 shares during the period. WR Wealth Planners LLC increased its position in shares of Centene by 41.4% during the second quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock valued at $31,000 after acquiring an additional 137 shares during the last quarter. Chris Bulman Inc purchased a new stake in Centene during the second quarter valued at about $33,000. Riverview Trust Co lifted its stake in Centene by 154.6% in the 2nd quarter. Riverview Trust Co now owns 527 shares of the company’s stock worth $35,000 after purchasing an additional 320 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in Centene in the 2nd quarter worth approximately $36,000. Institutional investors and hedge funds own 93.63% of the company’s stock.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 target price on shares of Centene in a report on Tuesday, October 1st. StockNews.com lowered shares of Centene from a “strong-buy” rating to a “buy” rating in a report on Monday, October 28th. Barclays decreased their price target on Centene from $97.00 to $91.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Sanford C. Bernstein decreased their target price on Centene from $96.00 to $88.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Finally, Robert W. Baird reduced their target price on shares of Centene from $83.00 to $66.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $83.92.

Centene Price Performance

Centene stock opened at $60.06 on Tuesday. The company has a fifty day simple moving average of $64.81 and a 200-day simple moving average of $69.70. 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 12-month low of $57.20 and a 12-month high of $81.42. The stock has a market cap of $30.32 billion, a P/E ratio of 10.43, a price-to-earnings-growth ratio of 0.82 and a beta of 0.46.

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.