Cinctive Capital Management LP Grows Position in Centene Co. (NYSE:CNC)

Cinctive Capital Management LP increased its holdings in Centene Co. (NYSE:CNC - Free Report) by 46.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,964 shares of the company's stock after purchasing an additional 16,544 shares during the period. Cinctive Capital Management LP's holdings in Centene were worth $3,148,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Osborne Partners Capital Management LLC increased its holdings in shares of Centene by 5.0% in the fourth quarter. Osborne Partners Capital Management LLC now owns 221,156 shares of the company's stock worth $13,398,000 after purchasing an additional 10,515 shares during the last quarter. Perpetual Ltd increased its stake in Centene by 68.4% in the 4th quarter. Perpetual Ltd now owns 36,126 shares of the company's stock worth $2,189,000 after acquiring an additional 14,671 shares during the last quarter. Polianta Ltd raised its holdings in shares of Centene by 41.7% during the 4th quarter. Polianta Ltd now owns 22,100 shares of the company's stock worth $1,338,000 after acquiring an additional 6,500 shares in the last quarter. KBC Group NV boosted its position in shares of Centene by 27.3% during the 4th quarter. KBC Group NV now owns 1,602,533 shares of the company's stock valued at $97,082,000 after acquiring an additional 343,559 shares during the last quarter. Finally, Washington Capital Management Inc. grew its holdings in shares of Centene by 40.9% in the fourth quarter. Washington Capital Management Inc. now owns 19,130 shares of the company's stock valued at $1,159,000 after purchasing an additional 5,550 shares in the last quarter. 93.63% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

Several equities analysts have commented on CNC shares. Wells Fargo & Company lowered their price objective on shares of Centene from $76.00 to $72.00 and set an "overweight" rating for the company in a research report on Friday, February 14th. UBS Group raised shares of Centene from a "neutral" rating to a "buy" rating and increased their price target for the company from $79.00 to $80.00 in a report on Friday, December 13th. JPMorgan Chase & Co. reissued an "overweight" rating and set a $75.00 price objective (down from $80.00) on shares of Centene in a research note on Tuesday, December 17th. Robert W. Baird lifted their target price on Centene from $66.00 to $71.00 in a report on Tuesday, February 4th. Finally, Truist Financial decreased their price target on Centene from $89.00 to $84.00 and set a "buy" rating on the stock in a report on Friday, December 13th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $80.85.

Centene Trading Up 3.4 %

Shares of CNC traded up $2.08 during trading hours on Tuesday, reaching $63.43. 2,398,928 shares of the company traded hands, compared to its average volume of 4,641,853. The firm has a market cap of $31.46 billion, a price-to-earnings ratio of 10.20, a PEG ratio of 0.80 and a beta of 0.53. Centene Co. has a 12-month low of $55.03 and a 12-month high of $80.59. The stock's fifty day moving average price is $59.63 and its 200 day moving average price is $62.06. The company has a current ratio of 1.11, a quick ratio of 1.10 and a debt-to-equity ratio of 0.70.

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

About Centene

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.