Train Babcock Advisors Lowers stake in Centene Corp (CNC)

Centene Corp (CNC) : Train Babcock Advisors reduced its stake in Centene Corp by 1.74% during the most recent quarter end. The investment management company now holds a total of 128,141 shares of Centene Corp which is valued at $7,509,063 after selling 2,275 shares in Centene Corp , the firm said in a disclosure report filed with the SEC on Apr 14, 2016.Centene Corp makes up approximately 2.97% of Train Babcock Advisors’s portfolio.

Centene Corp opened for trading at $58.6 and hit $59.76 on the upside on Monday, eventually ending the session at $59.39, with a gain of 1.35% or 0.79 points. The heightened volatility saw the trading volume jump to 17,91,631 shares. Company has a market cap of $7,225 M.

Other Hedge Funds, Including , Oakbrook Investments sold out all of its stake in CNC during the most recent quarter. The investment firm sold 8,264 shares of CNC which is valued $484,270. Lenox Wealth Advisors sold out all of its stake in CNC during the most recent quarter. The investment firm sold 30 shares of CNC which is valued $1,758.British Columbia Investment Management Corp boosted its stake in CNC in the latest quarter, The investment management firm added 32,365 additional shares and now holds a total of 106,478 shares of Centene Corp which is valued at $6,327,988. Centene Corp makes up approx 0.06% of British Columbia Investment Management Corp’s portfolio.

On the company’s financial health, Centene Corp reported $0.95 EPS for the quarter, based on the information available during the earnings call on Feb 9, 2016. Analyst had a consensus estimate of $0.95. The company had revenue of $6302.00 million for the quarter, compared to analysts expectations of $6318.11 million. The company’s revenue was up 33.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 EPS.

Many Wall Street Analysts have commented on Centene Corp. Shares were Reiterated by Barclays on Feb 10, 2016 to “Equal Weight” and Lowered the Price Target to $ 64 from a previous price target of $72 .

Centene Corporation is a healthcare company. The Company provides programs and services to Government sponsored healthcare programs. It offers member-focused services by assisting in accessing care coordinating referrals to related health and social services and addressing member concerns and questions. It also provides education and outreach programs to inform and assist members in accessing healthcare services. The Company operates in two segments: Managed Care and Specialty Services. The Managed Care segment provides health plan coverage to individuals through Government subsidized programs including Medicaid the State Children’s Health Insurance Program (CHIP) Long Term Care (LTC) Foster Care dual-eligible individuals (Duals) and the Supplemental Security Income Program also known as the Aged Blind or Disabled Program (ABD). The Specialty Services segment consists of the Company’s specialty companies offering auxiliary healthcare services and products.

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