Systematic Financial Management Lp Lowers stake in Centene Corp (CNC)

Centene Corp (CNC) : Systematic Financial Management Lp reduced its stake in Centene Corp by 7.24% during the most recent quarter end. The investment management company now holds a total of 1,375,231 shares of Centene Corp which is valued at $96,664,987 after selling 107,381 shares in Centene Corp , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.Centene Corp makes up approximately 1.25% of Systematic Financial Management Lp’s portfolio.

Other Hedge Funds, Including , Tributary Capital Management boosted its stake in CNC in the latest quarter, The investment management firm added 3,900 additional shares and now holds a total of 41,000 shares of Centene Corp which is valued at $2,852,780. Centene Corp makes up approx 0.40% of Tributary Capital Management’s portfolio.Jennison Associates boosted its stake in CNC in the latest quarter, The investment management firm added 43,675 additional shares and now holds a total of 3,806,765 shares of Centene Corp which is valued at $272,335,968. Centene Corp makes up approx 0.29% of Jennison Associates’s portfolio. Rail-splitter Capital Management added CNC to its portfolio by purchasing 165,703 company shares during the most recent quarter which is valued at $11,854,393. Centene Corp makes up approx 2.75% of Rail-splitter Capital Management’s portfolio.Capital Fund Management S.a. boosted its stake in CNC in the latest quarter, The investment management firm added 4,081 additional shares and now holds a total of 9,232 shares of Centene Corp which is valued at $622,329. Centene Corp makes up approx 0.01% of Capital Fund Management S.a.’s portfolio.Chase Investment Counsel Corp boosted its stake in CNC in the latest quarter, The investment management firm added 6,100 additional shares and now holds a total of 15,210 shares of Centene Corp which is valued at $1,025,306. Centene Corp makes up approx 0.44% of Chase Investment Counsel Corp’s portfolio.

Centene Corp closed down -1.33 points or -1.91% at $68.17 with 14,74,408 shares getting traded on Wednesday. Post opening the session at $69.48, the shares hit an intraday low of $67.98 and an intraday high of $69.49 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Centene Corp reported $1.29 EPS for the quarter, beating the analyst consensus estimate by $ 0.20 according to the earnings call on Jul 26, 2016. Analyst had a consensus of $1.09. The company had revenue of $10897.00 million for the quarter, compared to analysts expectations of $10806.33 million. The company’s revenue was up 97.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.72 EPS.

Many Wall Street Analysts have commented on Centene Corp. Centene Corp was Upgraded by Morgan Stanley to ” Overweight” on Jun 29, 2016. Company shares were Upgraded by Barclays on Jun 20, 2016 to ” Overweight”, Firm has raised the Price Target to $ 82 from a previous price target of $76 .Centene Corp was Initiated by Bernstein to “Mkt Perform” on Jun 16, 2016.

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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