Centene Corporation $CNC Shares Purchased by Engineers Gate Manager LP

Engineers Gate Manager LP lifted its position in Centene Corporation (NYSE:CNC) by 868.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 558,459 shares of the company’s stock after purchasing an additional 500,773 shares during the period. Engineers Gate Manager LP’s holdings in Centene were worth $22,981,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. DV Equities LLC purchased a new stake in Centene in the 4th quarter worth $26,000. IFC & Insurance Marketing Inc. purchased a new stake in Centene in the 4th quarter worth $28,000. SBI Securities Co. Ltd. increased its holdings in Centene by 118.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 749 shares of the company’s stock worth $31,000 after acquiring an additional 406 shares in the last quarter. Ameriflex Group Inc. increased its holdings in Centene by 152.5% in the 3rd quarter. Ameriflex Group Inc. now owns 1,010 shares of the company’s stock worth $36,000 after acquiring an additional 610 shares in the last quarter. Finally, GoalVest Advisory LLC purchased a new stake in Centene in the 4th quarter worth $37,000. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Centene Price Performance

Shares of NYSE CNC opened at $60.52 on Thursday. The firm has a 50-day simple moving average of $53.03 and a 200-day simple moving average of $44.83. The stock has a market capitalization of $29.88 billion, a price-to-earnings ratio of -4.61, a price-to-earnings-growth ratio of 0.48 and a beta of 1.09. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.76. Centene Corporation has a 52 week low of $25.08 and a 52 week high of $66.55.

Centene (NYSE:CNC) last issued its earnings results on Tuesday, April 28th. The company reported $3.37 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $1.14. The business had revenue of $49.94 billion during the quarter, compared to analysts’ expectations of $47.53 billion. Centene had a negative net margin of 3.25% and a positive return on equity of 5.57%. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.90 earnings per share. On average, equities analysts predict that Centene Corporation will post 3.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on CNC shares. Oppenheimer boosted their price target on shares of Centene from $58.00 to $67.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Robert W. Baird boosted their price target on shares of Centene from $36.00 to $37.00 and gave the stock a “neutral” rating in a report on Wednesday, April 15th. Raymond James Financial set a $60.00 price target on shares of Centene in a report on Wednesday, April 29th. The Goldman Sachs Group reissued a “sell” rating and issued a $40.00 price target on shares of Centene in a report on Wednesday, April 29th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Centene in a report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $60.24.

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.