Bryce Point Capital LLC Buys Shares of 18,824 Centene Co. (NYSE:CNC)

Bryce Point Capital LLC acquired a new stake in Centene Co. (NYSE:CNC - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 18,824 shares of the company's stock, valued at approximately $1,140,000.

A number of other hedge funds have also recently modified their holdings of the stock. Capital Advisors Ltd. LLC boosted its position in Centene by 75.3% in the 4th quarter. Capital Advisors Ltd. LLC now owns 412 shares of the company's stock worth $25,000 after purchasing an additional 177 shares in the last quarter. Rialto Wealth Management LLC acquired a new stake in Centene during the fourth quarter valued at $30,000. OFI Invest Asset Management purchased a new position in Centene in the fourth quarter valued at $33,000. SRS Capital Advisors Inc. boosted its stake in shares of Centene by 73.4% during the 4th quarter. SRS Capital Advisors Inc. now owns 631 shares of the company's stock worth $38,000 after acquiring an additional 267 shares in the last quarter. Finally, Riverview Trust Co grew its position in shares of Centene by 172.7% during the 4th quarter. Riverview Trust Co now owns 758 shares of the company's stock valued at $46,000 after acquiring an additional 480 shares during the period. Hedge funds and other institutional investors own 93.63% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CNC shares. Jefferies Financial Group upgraded Centene from an "underperform" rating to a "hold" rating and increased their price target for the stock from $53.00 to $64.00 in a research report on Tuesday. Argus cut shares of Centene from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Oppenheimer decreased their price objective on shares of Centene from $95.00 to $85.00 and set an "outperform" rating on the stock in a report on Friday, December 13th. JPMorgan Chase & Co. reissued an "overweight" rating and set a $75.00 target price (down previously from $80.00) on shares of Centene in a research note on Tuesday, December 17th. Finally, StockNews.com cut Centene from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 6th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, Centene currently has an average rating of "Moderate Buy" and a consensus target price of $80.85.

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Centene Trading Up 3.6 %

CNC stock traded up $2.21 during trading on Tuesday, reaching $63.56. 2,398,928 shares of the stock were exchanged, compared to its average volume of 4,641,853. The business has a 50 day moving average price of $59.63 and a 200-day moving average price of $62.06. Centene Co. has a 1 year low of $55.03 and a 1 year high of $80.59. The company has a current ratio of 1.11, a quick ratio of 1.10 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $31.53 billion, a price-to-earnings ratio of 10.20, a P/E/G ratio of 0.80 and a beta of 0.53.

Centene (NYSE:CNC - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.31. Centene had a return on equity of 13.85% and a net margin of 2.03%. The company had revenue of $40.81 billion during the quarter, compared to analyst estimates of $38.78 billion. During the same period in the prior year, the business posted $0.45 earnings per share. The firm's revenue for the quarter was up 3.4% compared to the same quarter last year. On average, research analysts predict that Centene Co. will post 6.86 earnings per share for the current year.

Centene Company Profile

Centene Corporation operates as a healthcare enterprise that provides programs and services to under-insured and uninsured families, commercial organizations, and military families in the United States. The company operates through Medicaid, Medicare, Commercial, and Other segments. The Medicaid segment offers health plan coverage, including medicaid expansion, aged, blind, disabled, children's health insurance program, foster care, medicare-medicaid plans, long-term services and support.