Centene Corporation (NYSE:CNC) Moves into Overbought Territory

Centene in huge $3.75 billion acquisition

The firm owned 125,199 shares of the company's stock after acquiring an additional 17,418 shares during the period. Centene Corporation reported earnings of $1.11 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 12.6%. Archford Capital Strategies LLC boosted its position in shares of Centene Corporation by 70,697.3% during the second quarter. State Treasurer State of MI increased its stake in Centene Corporation by 0.7% in the third quarter.

Company shares last traded at $96.15 which is significantly above $84.56, the stock's 50 day moving average and which is significantly higher than the 200 day moving average of $77.42. Vanguard Group Inc. now owns 15,952,026 shares of the company's stock valued at $1,136,742,000 after buying an additional 590,551 shares during the last quarter. Strs Ohio raised its holdings in shares of Centene Corporation by 34.0% in the first quarter. BlackRock Inc. now owns 15,510,470 shares of the company's stock valued at $1,105,275,000 after buying an additional 15,068,340 shares during the last quarter. State Street Corp now owns 7,119,308 shares of the company's stock valued at $507,340,000 after buying an additional 169,286 shares during the last quarter. The firm owned 6,950,022 shares of the company's stock after buying an additional 266,208 shares during the period. Corporate insiders own 4.50% of the company's stock.

ILLEGAL ACTIVITY NOTICE: This report was first published by StockNewsTimes and is owned by of StockNewsTimes. If you are reading this article on another domain, it was stolen and reposted in violation of USA and worldwide copyright & trademark law. The legal version of this report can be accessed at https://stocknewstimes.com/2017/09/14/centene-corporation-cnc-shares-sold-by-alphamark-advisors-llc.html. In a transaction dated Jul. 06, 2017, the shares were put up for sale at an average price of $80.26, raking in a sum of $2,809,100. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The disclosure for this sale can be found here. Insiders have sold 43,167 shares of company stock worth $3,470,973 over the last three months. The Chairman, President and CEO now owns $303,309,216 of the stock according to the SEC filing.

CNC has been the topic of several analyst reports. The same analysts have a future one-year price target of $93.54 on the shares.

July 13 investment analysts at Deutsche Bank held the stock rating at "Buy" but raised the price expectation from $73.00 to $92.00. BidaskClub cut Centene Corporation from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 1st. Sanford C. Bernstein raised Centene Corporation from a "market perform" rating to an "outperform" rating in a research report on Tuesday, January 31st. They set an "overweight" rating and a $75.00 price target for the company.

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Shares of Centene Corporation (NYSE:CNC) opened at 67.61 on Friday. Centene Corporation has a 52 week low of $50.00 and a 52 week high of $98.71.

The most current P/E ratio is 21.10 and the market value is 16.58B.

Centene Corporation (NYSE:CNC) last posted its earnings results on Tuesday, February 7th. Analysts expect next quarter's EPS will be $1.02 with next year's EPS anticipated to be $5.44. The business had revenue of $11.95 billion for the quarter, compared to the consensus estimate of $11.69 billion. Centene Corporation had a net margin of 1.37% and a return on equity of 12.83%. During the same period a year ago, the business posted $1.29 EPS.

Centene Corporation, launched on September 26, 2001, is a healthcare company. The Company also provides education and outreach programs to inform and assist members in accessing appropriate healthcare services. The company also offers national programs in Medicare Advantage, Dual Advantage and Managed Long Term Care.

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