TT Capital Management LLC Buys New Position in Centene Corporation $CNC

TT Capital Management LLC purchased a new position in shares of Centene Corporation (NYSE:CNC) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,125 shares of the company’s stock, valued at approximately $504,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CNC. Baird Financial Group Inc. acquired a new stake in Centene during the 1st quarter worth approximately $236,000. Sivia Capital Partners LLC increased its position in shares of Centene by 80.0% during the second quarter. Sivia Capital Partners LLC now owns 9,710 shares of the company’s stock worth $527,000 after acquiring an additional 4,315 shares during the period. IFP Advisors Inc raised its stake in shares of Centene by 198.6% in the second quarter. IFP Advisors Inc now owns 2,114 shares of the company’s stock valued at $115,000 after acquiring an additional 1,406 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in Centene by 90.4% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 15,135 shares of the company’s stock worth $822,000 after purchasing an additional 7,184 shares in the last quarter. Finally, New York State Teachers Retirement System increased its holdings in Centene by 5.7% during the 2nd quarter. New York State Teachers Retirement System now owns 465,691 shares of the company’s stock worth $25,278,000 after purchasing an additional 25,029 shares during the period. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Centene Stock Up 3.4%

CNC stock opened at $40.53 on Friday. The stock has a market cap of $19.92 billion, a P/E ratio of -2.98, a PEG ratio of 0.90 and a beta of 0.48. The company has a current ratio of 1.10, a quick ratio of 1.08 and a debt-to-equity ratio of 0.87. Centene Corporation has a twelve month low of $25.08 and a twelve month high of $66.03. The company’s 50 day moving average is $42.13 and its two-hundred day moving average is $36.37.

Centene (NYSE:CNC) last posted its earnings results on Friday, February 6th. The company reported ($1.19) EPS for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.03. Centene had a negative net margin of 3.43% and a positive return on equity of 4.25%. The firm had revenue of $49.73 billion for the quarter, compared to the consensus estimate of $48.41 billion. During the same period last year, the firm posted $0.80 EPS. The company’s revenue was up 21.9% on a year-over-year basis. Centene has set its FY 2026 guidance at 3.000-3.000 EPS. Research analysts expect that Centene Corporation will post 6.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CNC has been the subject of a number of analyst reports. Mizuho set a $47.00 price objective on Centene in a research report on Friday, January 9th. Weiss Ratings reiterated a “sell (d)” rating on shares of Centene in a research note on Wednesday, January 21st. Argus upgraded shares of Centene to a “hold” rating in a report on Monday, February 9th. TD Cowen raised their price objective on shares of Centene from $34.00 to $38.00 and gave the company a “hold” rating in a report on Wednesday. Finally, Wells Fargo & Company set a $43.00 target price on shares of Centene and gave the stock an “equal weight” rating in a research note on Wednesday, January 7th. Three investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $41.81.

Centene Company Profile

Centene Corporation (NYSE: CNC) is a diversified, multi-national healthcare enterprise that specializes in providing services to government-sponsored and national health programs. The company primarily acts as a managed care organization, delivering healthcare coverage and administering benefits for Medicaid, the Children’s Health Insurance Program (CHIP), Medicare Advantage, and individual marketplace plans. Centene also contracts with federal and state agencies to manage specialty care programs and community-based services for vulnerable populations.

Centene’s offerings extend beyond traditional insurance to include a range of specialty and support services.