Navellier Associates Inc Lowers stake in Centene Corp (CNC)

Centene Corp (CNC) : Navellier Associates Inc reduced its stake in Centene Corp by 22.96% during the most recent quarter end. The investment management company now holds a total of 395,285 shares of Centene Corp which is valued at $22.4 Million after selling 117,804 shares in Centene Corp , the firm said in a disclosure report filed with the SEC on May 13, 2016.Centene Corp makes up approximately 2.90% of Navellier Associates Inc’s portfolio.

Other Hedge Funds, Including , Caisse De Depot Et Placement Du Quebec boosted its stake in CNC in the latest quarter, The investment management firm added 96,500 additional shares and now holds a total of 158,700 shares of Centene Corp which is valued at $9 Million. Centene Corp makes up approx 0.02% of Caisse De Depot Et Placement Du Quebec’s portfolio. Pegasus Partners Ltd. added CNC to its portfolio by purchasing 10,435 company shares during the most recent quarter which is valued at $591,038. Centene Corp makes up approx 0.33% of Pegasus Partners Ltd.’s portfolio.New York State Common Retirement Fund boosted its stake in CNC in the latest quarter, The investment management firm added 22,360 additional shares and now holds a total of 851,967 shares of Centene Corp which is valued at $50.9 Million. Centene Corp makes up approx 0.08% of New York State Common Retirement Fund’s portfolio.Rhumbline Advisers reduced its stake in CNC by selling 136,610 shares or 46.54% in the most recent quarter. The Hedge Fund company now holds 156,930 shares of CNC which is valued at $9.4 Million. Centene Corp makes up approx 0.03% of Rhumbline Advisers’s portfolio.First Mercantile Trust Co boosted its stake in CNC in the latest quarter, The investment management firm added 14,600 additional shares and now holds a total of 23,500 shares of Centene Corp which is valued at $1.5 Million. Centene Corp makes up approx 0.18% of First Mercantile Trust Co’s portfolio.

Centene Corp opened for trading at $59.25 and hit $60.58 on the upside on Wednesday, eventually ending the session at $60.17, with a gain of 2.40% or 1.41 points. The heightened volatility saw the trading volume jump to 18,13,565 shares. Company has a market cap of $10,257 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.

Many Wall Street Analysts have commented on Centene Corp. Stifel Upgraded Centene Corp on May 26, 2016 to ” Buy”, Price Target of the shares are set at $75.

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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