Cinctive Capital Management LP Acquires 241,057 Shares of Centene Corporation $CNC

Cinctive Capital Management LP raised its holdings in shares of Centene Corporation (NYSE:CNC) by 4,732.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 246,151 shares of the company’s stock after buying an additional 241,057 shares during the period. Cinctive Capital Management LP’s holdings in Centene were worth $8,783,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Addison Advisors LLC raised its position in shares of Centene by 455.6% in the third quarter. Addison Advisors LLC now owns 739 shares of the company’s stock valued at $26,000 after purchasing an additional 606 shares during the period. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Centene in the 3rd quarter valued at about $27,000. WPG Advisers LLC raised its holdings in Centene by 44.5% in the 3rd quarter. WPG Advisers LLC now owns 915 shares of the company’s stock valued at $33,000 after acquiring an additional 282 shares during the period. Bogart Wealth LLC lifted its position in Centene by 11,011.1% during the third quarter. Bogart Wealth LLC now owns 1,000 shares of the company’s stock worth $36,000 after acquiring an additional 991 shares during the last quarter. Finally, Ameriflex Group Inc. boosted its holdings in shares of Centene by 152.5% during the third quarter. Ameriflex Group Inc. now owns 1,010 shares of the company’s stock worth $36,000 after acquiring an additional 610 shares during the period. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CNC has been the topic of a number of recent research reports. Mizuho set a $41.00 target price on Centene and gave the stock a “neutral” rating in a research note on Tuesday. Morgan Stanley upped their price objective on Centene from $38.00 to $45.00 and gave the company an “equal weight” rating in a report on Wednesday, March 4th. Argus upgraded Centene to a “hold” rating in a research report on Monday, February 9th. Cantor Fitzgerald reissued a “neutral” rating and issued a $41.00 target price on shares of Centene in a research report on Monday, February 9th. Finally, JPMorgan Chase & Co. upped their price target on shares of Centene from $38.00 to $45.00 and gave the company a “neutral” rating in a research note 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 assigned a Sell rating to the stock. According to MarketBeat, Centene presently has an average rating of “Hold” and a consensus price target of $42.06.

Centene Price Performance

Centene stock opened at $34.47 on Friday. The firm has a market cap of $16.95 billion, a PE ratio of -2.53, a price-to-earnings-growth ratio of 0.76 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 1.10. The stock’s fifty day moving average price is $42.81 and its two-hundred day moving average price is $38.39. Centene Corporation has a one year low of $25.08 and a one year high of $66.03.

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

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.