Cortland Associates Incmo buys $15,563,894 stake in Centene Corp (CNC)

Centene Corp (CNC) : Cortland Associates Incmo scooped up 4,288 additional shares in Centene Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 3, 2016. The investment management firm now holds a total of 260,440 shares of Centene Corp which is valued at $15,563,894.Centene Corp makes up approximately 3.30% of Cortland Associates Incmo’s portfolio.

Other Hedge Funds, Including , Hanseatic Management Services Inc reduced its stake in CNC by selling 119 shares or 1.82% in the most recent quarter. The Hedge Fund company now holds 6,416 shares of CNC which is valued at $383,420. Centene Corp makes up approx 0.14% of Hanseatic Management Services Inc’s portfolio.Retirement Systems Of Alabama reduced its stake in CNC by selling 128,083 shares or 59.59% in the most recent quarter. The Hedge Fund company now holds 86,864 shares of CNC which is valued at $5,382,093. Centene Corp makes up approx 0.03% of Retirement Systems Of Alabama’s portfolio.Nordea Investment Management Ab boosted its stake in CNC in the latest quarter, The investment management firm added 2,736 additional shares and now holds a total of 6,580 shares of Centene Corp which is valued at $407,697.Barrett Asset Management reduced its stake in CNC by selling 5,625 shares or 26.57% in the most recent quarter. The Hedge Fund company now holds 15,545 shares of CNC which is valued at $963,168. Centene Corp makes up approx 0.08% of Barrett Asset Management’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in CNC in the latest quarter, The investment management firm added 25,885 additional shares and now holds a total of 26,609 shares of Centene Corp which is valued at $1,659,071. Centene Corp makes up approx 0.01% of Bnp Paribas Arbitrage Sa’s portfolio.

Centene Corp closed down -1.5 points or -2.47% at $59.16 with 25,44,002 shares getting traded on Tuesday. Post opening the session at $60.89, the shares hit an intraday low of $58.62 and an intraday high of $60.98 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Centene Corp reported $0.74 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $0.70. The company had revenue of $6953.00 million for the quarter, compared to analysts expectations of $6715.96 million. The company’s revenue was up 35.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 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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