Southernsun Asset Management Lowers stake in Centene Corp (CNC)

Centene Corp (CNC) : Southernsun Asset Management reduced its stake in Centene Corp by 5.46% during the most recent quarter end. The investment management company now holds a total of 3,343,002 shares of Centene Corp which is valued at $189.3 Million after selling 192,941 shares in Centene Corp , the firm said in a disclosure report filed with the SEC on May 13, 2016.Centene Corp makes up approximately 5.03% of Southernsun Asset Management’s portfolio.

Other Hedge Funds, Including , S. Muoio sold out all of its stake in CNC during the most recent quarter. The investment firm sold 24,880 shares of CNC which is valued $1.4 Million. Edmond De Rothschild (europe) sold out all of its stake in CNC during the most recent quarter. The investment firm sold 6,675 shares of CNC which is valued $378,072.Artemis Investment Management Llp boosted its stake in CNC in the latest quarter, The investment management firm added 23,100 additional shares and now holds a total of 257,250 shares of Centene Corp which is valued at $14.6 Million. Centene Corp makes up approx 0.37% of Artemis Investment Management Llp’s portfolio.Ngam Advisors boosted its stake in CNC in the latest quarter, The investment management firm added 5,976 additional shares and now holds a total of 37,412 shares of Centene Corp which is valued at $2.2 Million. Centene Corp makes up approx 0.03% of Ngam Advisors’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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