Forte Capital LLC ADV Makes New Investment in Centene Co. (NYSE:CNC)

Forte Capital LLC ADV acquired a new stake in Centene Co. (NYSE:CNC) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,495 shares of the company’s stock, valued at approximately $259,000.

Other large investors have also made changes to their positions in the company. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Centene during the 4th quarter worth about $25,000. Operose Advisors LLC purchased a new stake in Centene in the 3rd quarter worth approximately $25,000. OFI Invest Asset Management acquired a new position in Centene in the 3rd quarter valued at $26,000. Riggs Asset Managment Co. Inc. purchased a new position in shares of Centene during the 4th quarter worth $32,000. Finally, Headinvest LLC acquired a new stake in shares of Centene during the third quarter worth $35,000. Institutional investors and hedge funds own 93.63% of the company’s stock.

Centene Stock Up 0.6 %

NYSE CNC traded up $0.48 on Friday, reaching $74.81. The company had a trading volume of 4,706,732 shares, compared to its average volume of 3,598,060. The firm has a market capitalization of $39.92 billion, a PE ratio of 14.87, a P/E/G ratio of 0.96 and a beta of 0.41. The firm has a 50-day moving average of $75.85 and a 200-day moving average of $74.84. Centene Co. has a 1 year low of $60.83 and a 1 year high of $81.42. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.17 and a quick ratio of 1.11.

Centene (NYSE:CNC) last announced its earnings results on Friday, April 26th. The company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.09 by $0.17. Centene had a net margin of 1.76% and a return on equity of 14.19%. The business had revenue of $40.41 billion during the quarter, compared to the consensus estimate of $36.43 billion. During the same period in the prior year, the firm earned $2.11 earnings per share. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, equities research analysts anticipate that Centene Co. will post 6.82 EPS for the current fiscal year.

Insider Buying and Selling

In other news, President Kenneth J. Fasola sold 12,000 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $75.07, for a total value of $900,840.00. Following the sale, the president now owns 235,365 shares in the company, valued at approximately $17,668,850.55. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Centene news, Director Lori Jean Robinson sold 10,000 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $77.41, for a total transaction of $774,100.00. Following the completion of the sale, the director now owns 11,455 shares in the company, valued at $886,731.55. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President Kenneth J. Fasola sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $75.07, for a total transaction of $900,840.00. Following the completion of the transaction, the president now owns 235,365 shares in the company, valued at $17,668,850.55. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CNC shares. Oppenheimer reiterated an “outperform” rating and set a $110.00 target price on shares of Centene in a research report on Monday, April 29th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Centene from $81.00 to $82.00 and gave the stock a “hold” rating in a research report on Tuesday. Barclays upped their price target on shares of Centene from $101.00 to $104.00 and gave the stock an “overweight” rating in a research report on Thursday. Wells Fargo & Company boosted their price objective on shares of Centene from $89.00 to $93.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Finally, StockNews.com raised Centene from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 29th. Six research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $85.23.

About Centene

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.