Horizon Investment Services Lowers stake in Centene Corp (CNC)

Centene Corp (CNC) : Horizon Investment Services reduced its stake in Centene Corp by 6.71% during the most recent quarter end. The investment management company now holds a total of 80,721 shares of Centene Corp which is valued at $5,669,843 after selling 5,802 shares in Centene Corp , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Centene Corp makes up approximately 2.72% of Horizon Investment Services’s portfolio.

Other Hedge Funds, Including , Verition Fund Management added CNC to its portfolio by purchasing 8,394 company shares during the most recent quarter which is valued at $589,595. Centene Corp makes up approx 0.14% of Verition Fund Management’s portfolio. Oxford Asset Management sold out all of its stake in CNC during the most recent quarter. The investment firm sold 133,417 shares of CNC which is valued $9,283,155.Train Babcock Advisors reduced its stake in CNC by selling 568 shares or 0.44% in the most recent quarter. The Hedge Fund company now holds 127,573 shares of CNC which is valued at $9,617,728. Centene Corp makes up approx 3.68% of Train Babcock Advisors’s portfolio.Ls Investment Advisors reduced its stake in CNC by selling 310 shares or 4.1% in the most recent quarter. The Hedge Fund company now holds 7,254 shares of CNC which is valued at $546,879. Centene Corp makes up approx 0.04% of Ls Investment Advisors’s portfolio.

Centene Corp closed down -0.95 points or -1.39% at $67.34 with 7,46,807 shares getting traded on Thursday. Post opening the session at $68.12, the shares hit an intraday low of $67.19 and an intraday high of $68.59 and the price fluctuated in this range throughout the day.Shares ended Thursday 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 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 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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