Centene Corporation $CNC Shares Bought by Eversept Partners LP

Eversept Partners LP grew its stake in shares of Centene Corporation (NYSE:CNC) by 44.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 324,092 shares of the company’s stock after acquiring an additional 99,542 shares during the quarter. Eversept Partners LP’s holdings in Centene were worth $13,336,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. DV Equities LLC acquired a new position in shares of Centene during the 4th quarter valued at about $26,000. IFC & Insurance Marketing Inc. acquired a new position in shares of Centene during the 4th quarter valued at about $28,000. SBI Securities Co. Ltd. increased its stake in shares of Centene by 118.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 749 shares of the company’s stock valued at $31,000 after acquiring an additional 406 shares during the last quarter. Ameriflex Group Inc. increased its stake in shares of Centene by 152.5% during the 3rd quarter. Ameriflex Group Inc. now owns 1,010 shares of the company’s stock valued at $36,000 after acquiring an additional 610 shares during the last quarter. Finally, GoalVest Advisory LLC acquired a new position in shares of Centene during the 4th quarter valued at about $37,000. Institutional investors and hedge funds own 93.63% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Mizuho set a $63.00 price objective on shares of Centene and gave the company a “neutral” rating in a research note on Monday, June 8th. Wall Street Zen upgraded Centene from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. TD Cowen reiterated a “hold” rating and set a $47.00 target price (up from $38.00) on shares of Centene in a report on Monday, May 4th. Morgan Stanley boosted their target price on Centene from $50.00 to $57.00 and gave the stock an “equal weight” rating in a report on Thursday, June 4th. Finally, Weiss Ratings reiterated 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 given a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $60.24.

Centene Stock Down 1.4%

NYSE CNC opened at $60.52 on Thursday. The stock has a market cap of $29.88 billion, a PE ratio of -4.61, a P/E/G ratio of 0.48 and a beta of 1.09. Centene Corporation has a fifty-two week low of $25.08 and a fifty-two week high of $66.55. The business has a 50 day moving average price of $53.03 and a two-hundred day moving average price of $44.83. 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 (NYSE:CNC) last released its quarterly earnings results on Tuesday, April 28th. The company reported $3.37 earnings per share for the quarter, topping analysts’ consensus estimates of $2.23 by $1.14. The firm had revenue of $49.94 billion during the quarter, compared to analysts’ expectations of $47.53 billion. Centene had a positive return on equity of 5.57% and a negative net margin of 3.25%.Centene’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.90 EPS. As a group, sell-side analysts predict that Centene Corporation will post 3.45 EPS for the current fiscal year.

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.