Sivia Capital Partners LLC Has $2.52 Million Holdings in Centene Corporation $CNC

Sivia Capital Partners LLC raised its position in shares of Centene Corporation (NYSE:CNC) by 280.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 61,111 shares of the company’s stock after purchasing an additional 45,044 shares during the quarter. Centene accounts for approximately 0.5% of Sivia Capital Partners LLC’s portfolio, making the stock its 25th biggest holding. Sivia Capital Partners LLC’s holdings in Centene were worth $2,515,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Oracle Investment Management Inc. acquired a new stake in shares of Centene during the 3rd quarter worth approximately $3,936,000. Capitolis Liquid Global Markets LLC grew its position in shares of Centene by 451.2% during the 3rd quarter. Capitolis Liquid Global Markets LLC now owns 181,900 shares of the company’s stock worth $6,490,000 after buying an additional 148,900 shares during the period. Alberta Investment Management Corp grew its position in shares of Centene by 22.1% during the 3rd quarter. Alberta Investment Management Corp now owns 1,075,000 shares of the company’s stock worth $38,356,000 after buying an additional 194,300 shares during the period. Counterpoint Mutual Funds LLC grew its position in shares of Centene by 161.1% during the 3rd quarter. Counterpoint Mutual Funds LLC now owns 91,943 shares of the company’s stock worth $3,281,000 after buying an additional 56,730 shares during the period. Finally, Kennondale Capital Management LLC grew its position in shares of Centene by 500.0% during the 3rd quarter. Kennondale Capital Management LLC now owns 48,978 shares of the company’s stock worth $1,748,000 after buying an additional 40,815 shares during the period. Institutional investors and hedge funds own 93.63% of the company’s stock.

Centene Stock Performance

NYSE CNC opened at $59.64 on Thursday. The company has a fifty day simple moving average of $47.01 and a 200 day simple moving average of $42.99. Centene Corporation has a 12-month low of $25.08 and a 12-month high of $62.10. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.76. The company has a market cap of $29.45 billion, a P/E ratio of -4.54, a PEG ratio of 0.47 and a beta of 1.09.

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

Wall Street Analysts Forecast Growth

CNC has been the subject of several recent analyst reports. Wells Fargo & Company raised their price objective on shares of Centene from $44.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Barclays raised their price objective on shares of Centene from $63.00 to $75.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Raymond James Financial set a $60.00 price target on shares of Centene in a research report on Wednesday, April 29th. UBS Group reissued a “neutral” rating and issued a $61.00 price target (up from $55.00) on shares of Centene in a research report on Friday, May 22nd. Finally, Zacks Research raised shares of Centene from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $58.94.

Centene 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.