Persistent Asset Partners Ltd Takes $8.19 Million Position in Centene Corporation $CNC

Persistent Asset Partners Ltd acquired a new position in shares of Centene Corporation (NYSE:CNC) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 229,544 shares of the company’s stock, valued at approximately $8,190,000. Centene makes up approximately 5.6% of Persistent Asset Partners Ltd’s portfolio, making the stock its largest holding.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CNC. Alberta Investment Management Corp raised its position in Centene by 22.1% during the third quarter. Alberta Investment Management Corp now owns 1,075,000 shares of the company’s stock valued at $38,356,000 after acquiring an additional 194,300 shares in the last quarter. CenterBook Partners LP raised its holdings in shares of Centene by 107.7% during the 3rd quarter. CenterBook Partners LP now owns 22,894 shares of the company’s stock valued at $817,000 after purchasing an additional 11,870 shares in the last quarter. Syon Capital LLC boosted its holdings in Centene by 20.7% in the third quarter. Syon Capital LLC now owns 6,607 shares of the company’s stock worth $236,000 after purchasing an additional 1,133 shares in the last quarter. NEOS Investment Management LLC raised its holdings in Centene by 42.0% during the third quarter. NEOS Investment Management LLC now owns 68,210 shares of the company’s stock valued at $2,434,000 after buying an additional 20,185 shares in the last quarter. Finally, GSA Capital Partners LLP lifted its position in shares of Centene by 21.6% in the third quarter. GSA Capital Partners LLP now owns 52,674 shares of the company’s stock worth $1,879,000 after buying an additional 9,349 shares during the last quarter. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Centene Price Performance

Centene stock opened at $43.61 on Friday. The business has a 50 day simple moving average of $42.39 and a 200 day simple moving average of $36.75. Centene Corporation has a one year low of $25.08 and a one year high of $66.03. The company has a market capitalization of $21.45 billion, a PE ratio of -3.20, a price-to-earnings-growth ratio of 0.95 and a beta of 0.48. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.10 and a quick ratio of 1.08.

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

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Wall Street Zen downgraded Centene from a “buy” rating to a “hold” rating in a research note on Sunday, February 15th. The Goldman Sachs Group reiterated a “sell” rating and issued a $38.00 target price (up previously from $33.00) on shares of Centene in a report on Thursday, October 30th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $41.00 price target on shares of Centene in a research report on Monday, February 9th. Argus raised Centene to a “hold” rating in a research report on Monday, February 9th. Finally, JPMorgan Chase & Co. raised their target price on Centene from $38.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, January 22nd. Three equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Centene has a consensus rating of “Hold” and an average price target of $41.88.

About Centene

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.