Pacer Advisors buys $15.7 Million stake in Centene Corp (CNC)

Centene Corp (CNC) : Pacer Advisors scooped up 275,034 additional shares in Centene Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 277,575 shares of Centene Corp which is valued at $15.7 Million.Centene Corp makes up approximately 3.49% of Pacer Advisors’s portfolio.

Other Hedge Funds, Including , Pinnacle Associates Ltd boosted its stake in CNC in the latest quarter, The investment management firm added 710 additional shares and now holds a total of 14,335 shares of Centene Corp which is valued at $811,934. Centene Corp makes up approx 0.02% of Pinnacle Associates Ltd’s portfolio.Violich Capital Management reduced its stake in CNC by selling 450 shares or 7.93% in the most recent quarter. The Hedge Fund company now holds 5,225 shares of CNC which is valued at $295,944. Centene Corp makes up approx 0.10% of Violich Capital Management’s portfolio. Gabelli Securities sold out all of its stake in CNC during the most recent quarter. The investment firm sold 106,144 shares of CNC which is valued $6.3 Million.Ifp Advisors Inc boosted its stake in CNC in the latest quarter, The investment management firm added 127 additional shares and now holds a total of 1,960 shares of Centene Corp which is valued at $117,130. Centene Corp makes up approx 0.01% of Ifp Advisors Inc’s portfolio.Decatur Capital Management boosted its stake in CNC in the latest quarter, The investment management firm added 24,664 additional shares and now holds a total of 45,230 shares of Centene Corp which is valued at $2.8 Million. Centene Corp makes up approx 0.37% of Decatur Capital Management’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.

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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