Homrich Berg buys $2.7 Million stake in Centene Corp (CNC)

Centene Corp (CNC) : Homrich Berg scooped up 188 additional shares in Centene Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 48,330 shares of Centene Corp which is valued at $2.7 Million.Centene Corp makes up approximately 0.27% of Homrich Berg’s portfolio.

Other Hedge Funds, Including , Signaturefd sold out all of its stake in CNC during the most recent quarter. The investment firm sold 28 shares of CNC which is valued $1,586. Oxford Asset Management added CNC to its portfolio by purchasing 133,417 company shares during the most recent quarter which is valued at $7.6 Million. Centene Corp makes up approx 0.28% of Oxford Asset Management’s portfolio. Dubuque Bank Trust Co sold out all of its stake in CNC during the most recent quarter. The investment firm sold 72 shares of CNC which is valued $4,303. Gabelli Funds sold out all of its stake in CNC during the most recent quarter. The investment firm sold 2,177 shares of CNC which is valued $130,098.

Centene Corp opened for trading at $56.85 and hit $57.4 on the upside on Friday, eventually ending the session at $57.24, with a gain of 1.08% or 0.61 points. The heightened volatility saw the trading volume jump to 11,09,665 shares. Company has a market cap of $9,758 M.

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.

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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