Eagle Asset Management Inc Lowers stake in Centene Corp (CNC)

Centene Corp (CNC) : Eagle Asset Management Inc reduced its stake in Centene Corp by 13.61% during the most recent quarter end. The investment management company now holds a total of 1,836,414 shares of Centene Corp which is valued at $113,306,744 after selling 289,257 shares in Centene Corp , the firm said in a disclosure report filed with the SEC on Oct 12, 2016.Centene Corp makes up approximately 0.78% of Eagle Asset Management Inc’s portfolio.

Other Hedge Funds, Including , Atria Investments reduced its stake in CNC by selling 467 shares or 11.61% in the most recent quarter. The Hedge Fund company now holds 3,554 shares of CNC which is valued at $219,282. Centene Corp makes up approx 0.02% of Atria Investments’s portfolio.Chevy Chase Trust Holdings reduced its stake in CNC by selling 3,150 shares or 2.16% in the most recent quarter. The Hedge Fund company now holds 142,474 shares of CNC which is valued at $8,819,141. Centene Corp makes up approx 0.05% of Chevy Chase Trust Holdings’s portfolio.Independent Portfolio Consultants reduced its stake in CNC by selling 1,020 shares or 3.43% in the most recent quarter. The Hedge Fund company now holds 28,738 shares of CNC which is valued at $1,778,882. Centene Corp makes up approx 0.56% of Independent Portfolio Consultants’s portfolio. Washington Trust Bank added CNC to its portfolio by purchasing 16 company shares during the most recent quarter which is valued at $990. Cullinan Associates Inc sold out all of its stake in CNC during the most recent quarter. The investment firm sold 7,377 shares of CNC which is valued $456,636.

Centene Corp closed down -1.38 points or -2.19% at $61.7 with 11,15,308 shares getting traded on Tuesday. Post opening the session at $62.85, the shares hit an intraday low of $61.36 and an intraday high of $62.89 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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 Downgraded by Leerink Partners to ” Mkt Perform” on Sep 6, 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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