Cinctive Capital Management LP Acquires Shares of 35,420 Centene Co. (NYSE:CNC)

Cinctive Capital Management LP purchased a new position in shares of Centene Co. (NYSE:CNC - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 35,420 shares of the company's stock, valued at approximately $2,666,000.

A number of other hedge funds have also recently made changes to their positions in CNC. Park Place Capital Corp raised its stake in shares of Centene by 1,190.0% during the third quarter. Park Place Capital Corp now owns 387 shares of the company's stock valued at $29,000 after acquiring an additional 357 shares during the last quarter. WR Wealth Planners LLC increased its position in Centene by 41.4% during the 2nd quarter. WR Wealth Planners LLC now owns 468 shares of the company's stock valued at $31,000 after purchasing an additional 137 shares during the period. Chris Bulman Inc purchased a new stake in shares of Centene in the 2nd quarter worth about $33,000. Riverview Trust Co grew its holdings in shares of Centene by 154.6% during the 2nd quarter. Riverview Trust Co now owns 527 shares of the company's stock worth $35,000 after acquiring an additional 320 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Centene in the 2nd quarter worth approximately $36,000. 93.63% of the stock is currently owned by institutional investors.

Centene Stock Performance

CNC stock traded down $0.35 during trading on Tuesday, reaching $59.71. The stock had a trading volume of 2,825,815 shares, compared to its average volume of 4,038,399. The firm has a market cap of $30.15 billion, a PE ratio of 10.43, a PEG ratio of 0.82 and a beta of 0.46. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.64. The stock's 50 day moving average is $64.81 and its two-hundred day moving average is $69.70. Centene Co. has a 52 week low of $57.20 and a 52 week high of $81.42.

Insider Transactions at Centene

In other news, CEO Sarah London purchased 4,117 shares of the company's stock in a transaction on Friday, November 8th. The stock was acquired at an average cost of $60.80 per share, for a total transaction of $250,313.60. Following the completion of the transaction, the chief executive officer now directly owns 667,229 shares in the company, valued at $40,567,523.20. This trade represents a 0.62 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Andrew Lynn Asher acquired 17,200 shares of the firm's stock in a transaction dated Wednesday, November 13th. The shares were purchased at an average price of $58.14 per share, for a total transaction of $1,000,008.00. Following the completion of the transaction, the chief financial officer now directly owns 486,847 shares in the company, valued at approximately $28,305,284.58. This trade represents a 3.66 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.33% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CNC shares. Wells Fargo & Company reduced their price target on Centene from $91.00 to $90.00 and set an "overweight" rating on the stock in a research note on Monday, November 4th. Robert W. Baird cut their price objective on shares of Centene from $83.00 to $66.00 and set a "neutral" rating on the stock in a report on Friday, October 25th. Sanford C. Bernstein lowered their target price on shares of Centene from $96.00 to $88.00 and set an "outperform" rating for the company in a report on Wednesday, October 30th. Stephens reiterated an "equal weight" rating and set a $78.00 price objective on shares of Centene in a research note on Monday, August 5th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $90.00 target price on shares of Centene in a research note on Tuesday, October 1st. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $83.92.

Centene 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.