Centene up sharply after $3.75B acquisition of Fidelis in NY

Marco Green
September 13, 2017

The business had revenue of $11.95 billion for the quarter, compared to the consensus estimate of $11.69 billion. Bronfman E.L. Rothschild L.P. now owns 1,662 shares of the company's stock valued at $118,000 after buying an additional 93 shares in the last quarter. Mckinley Capital Management LLC Delaware bought a new stake in Centene Corporation in the 2nd quarter valued at about $101,000. July 26 investment analysts at Morgan Stanley kept the stock rating at "Overweight" but raised the price target to $94.00 from $86.00. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the stock. Finally, Pictet Asset Management Ltd. raised its holdings in shares of Centene Corporation by 6.9% in the first quarter.

Centene Corporation (NYSE:CNC) reached a new 52-week high on Wednesday after Cantor Fitzgerald raised their price target on the stock to $107.00.

ILLEGAL ACTIVITY NOTICE: This story was first posted by Week Herald and is owned by of Week Herald. The shares were sold at an average price of $69.54, for a total transaction of $347,700.00. If you are reading this news story on another domain, it was illegally copied and reposted in violation of U.S. and global copyright & trademark legislation. The value of the total investment in Centene Corporation went from $241,711,000 to $239,731,000 a change of $1,980,000 quarter over quarter. As of the last earnings report the EPS was $4.56 and is expected to be $4.92 for the current year with 172,475,000 shares presently outstanding. Centene Corporation's revenue was up 9.7% on a year-over-year basis.

The company's stock rose 6.7 percent to $97 in aftermarket trading on Tuesday.

"We think there is tremendous potential here", said Michael Neidorff, Centene chairman and CEO, on a conference call with investors Tuesday. Keybank National Association OH now owns 3,180 shares of the company's stock valued at $254,000 after buying an additional 36 shares during the period. Also, Director Robert K. Ditmore sold 4,167 shares of Centene Corporation stock in a transaction that occurred on Thursday, July 27th. The correct version of this piece of content can be viewed at https://stocknewstimes.com/2017/09/13/centene-corporation-cnc-position-increased-by-aviva-plc.html. Centene Corporation now has an average rating of "Buy" and an average price target of $88.00. Cleararc Capital Inc. now owns 4,198 shares of the company's stock valued at $299,000 after buying an additional 35 shares during the period. Also, SVP Mark J. Brooks sold 1,099 shares of the stock in a transaction on Thursday, December 1st. Ngam Advisors L.P. increased its stake in Centene Corporation by 298.4% in the second quarter. US Bancorp DE now owns 22,547 shares of the company's stock valued at $1,607,000 after buying an additional 171 shares during the last quarter. Corporate insiders own 4.50% of the company's stock.

Centene Corporation, launched on September 26, 2001, is a healthcare company. The Company also provides education and outreach programs to inform and assist members in accessing appropriate healthcare services. The Company operates through two segments: Managed Care and Specialty Services.

Leerink analyst Ana Gupte said the deal, announced late Tuesday, puts Centene in the market with a solid Medicaid presence and a profitable business on the Affordable Care Act's public insurance exchange.

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