Marathon Trading Investment Management LLC Buys New Stake in Centene Corporation $CNC

Marathon Trading Investment Management LLC acquired a new stake in shares of Centene Corporation (NYSE:CNC) in the 4th quarter, Holdings Channel reports. The firm acquired 37,480 shares of the company’s stock, valued at approximately $1,542,000.

Several other institutional investors have also bought and sold shares of the business. Mariner LLC lifted its position in Centene by 229.5% during the fourth quarter. Mariner LLC now owns 779,512 shares of the company’s stock valued at $32,081,000 after purchasing an additional 542,929 shares during the last quarter. Focus Partners Wealth lifted its position in Centene by 153.2% during the fourth quarter. Focus Partners Wealth now owns 228,503 shares of the company’s stock valued at $9,403,000 after purchasing an additional 138,242 shares during the last quarter. Fieldview Capital Management LLC bought a new position in Centene during the fourth quarter valued at $1,029,000. Clear Street Group Inc. bought a new position in Centene during the fourth quarter valued at $543,000. Finally, Ariadne Wealth Management LP lifted its position in Centene by 106.9% during the fourth quarter. Ariadne Wealth Management LP now owns 17,285 shares of the company’s stock valued at $677,000 after purchasing an additional 8,931 shares during the last quarter. Institutional investors own 93.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Raymond James Financial set a $60.00 price objective on shares of Centene in a research report on Wednesday, April 29th. Robert W. Baird increased their price objective on shares of Centene from $36.00 to $37.00 and gave the company a “neutral” rating in a research report on Wednesday, April 15th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Centene in a research report on Thursday. TD Cowen restated a “hold” rating and issued a $47.00 target price (up from $38.00) on shares of Centene in a report on Monday, May 4th. Finally, Mizuho set a $63.00 target price on shares of Centene and gave the stock a “neutral” rating in a report on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $60.24.

Centene Price Performance

Centene stock opened at $65.18 on Monday. The firm has a 50-day moving average price of $51.43 and a 200-day moving average price of $44.36. The firm has a market capitalization of $32.18 billion, a PE ratio of -4.96, a price-to-earnings-growth ratio of 0.51 and a beta of 1.09. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.76. Centene Corporation has a 12-month low of $25.08 and a 12-month high of $66.55.

Centene (NYSE:CNC) last released its earnings results on Tuesday, April 28th. The company reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $1.14. The firm had revenue of $49.94 billion during the quarter, compared to analyst estimates of $47.53 billion. Centene had a negative net margin of 3.25% and a positive return on equity of 5.57%. The business’s revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the business earned $2.90 EPS. As a group, equities research analysts forecast that Centene Corporation will post 3.45 EPS for the current 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.