Centene Co. (NYSE:CNC) Shares Purchased by Cinctive Capital Management LP

Cinctive Capital Management LP boosted its stake in shares of Centene Co. (NYSE:CNC) by 46.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 51,964 shares of the company’s stock after purchasing an additional 16,544 shares during the period. Cinctive Capital Management LP’s holdings in Centene were worth $3,148,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Bryce Point Capital LLC purchased a new stake in shares of Centene during the fourth quarter valued at $1,140,000. Diametric Capital LP acquired a new stake in Centene during the 4th quarter worth about $610,000. AIA Group Ltd acquired a new position in shares of Centene in the fourth quarter valued at about $411,000. CIBC Private Wealth Group LLC raised its stake in shares of Centene by 45.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 9,242 shares of the company’s stock worth $584,000 after purchasing an additional 2,871 shares during the last quarter. Finally, MV Capital Management Inc. lifted its holdings in shares of Centene by 0.6% during the fourth quarter. MV Capital Management Inc. now owns 31,889 shares of the company’s stock worth $1,932,000 after purchasing an additional 202 shares during the period. Institutional investors and hedge funds own 93.63% of the company’s stock.

Centene Trading Up 0.4 %

Shares of NYSE:CNC opened at $60.69 on Thursday. The firm has a market capitalization of $30.10 billion, a price-to-earnings ratio of 9.73, a price-to-earnings-growth ratio of 0.80 and a beta of 0.40. The business’s 50 day moving average price is $59.79 and its 200-day moving average price is $62.44. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.11 and a quick ratio of 1.10. Centene Co. has a 1 year low of $55.03 and a 1 year high of $80.59.

Centene (NYSE:CNC) last released its earnings results on Tuesday, February 4th. The company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.31. The business had revenue of $40.81 billion during the quarter, compared to analysts’ expectations of $38.78 billion. Centene had a net margin of 2.03% and a return on equity of 13.85%. The company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.45 earnings per share. On average, equities research analysts forecast that Centene Co. will post 6.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Jefferies Financial Group downgraded shares of Centene from a “hold” rating to an “underperform” rating and cut their price target for the stock from $68.00 to $52.00 in a report on Tuesday, December 10th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $75.00 target price (down previously from $80.00) on shares of Centene in a report on Tuesday, December 17th. Stephens lowered their price target on shares of Centene from $75.00 to $73.00 and set an “equal weight” rating on the stock in a report on Friday, December 13th. Barclays lifted their price objective on Centene from $91.00 to $93.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $90.00 target price on shares of Centene in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $79.92.

Centene Profile

Centene Corporation operates as a healthcare enterprise that provides programs and services to under-insured and uninsured families, commercial organizations, and military families in the United States. The company operates through Medicaid, Medicare, Commercial, and Other segments. The Medicaid segment offers health plan coverage, including medicaid expansion, aged, blind, disabled, children’s health insurance program, foster care, medicare-medicaid plans, long-term services and support.