Centene Co. (NYSE:CNC) Shares Purchased by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP lifted its stake in Centene Co. (NYSE:CNC - Free Report) by 51.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 230,130 shares of the company's stock after buying an additional 77,865 shares during the period. ExodusPoint Capital Management LP's holdings in Centene were worth $13,941,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Osborne Partners Capital Management LLC increased its position in shares of Centene by 5.0% during 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 in the last quarter. Perpetual Ltd grew its stake in Centene by 68.4% during the 4th quarter. Perpetual Ltd now owns 36,126 shares of the company's stock worth $2,189,000 after buying an additional 14,671 shares during the last quarter. Polianta Ltd increased its position in Centene by 41.7% during the fourth quarter. Polianta Ltd now owns 22,100 shares of the company's stock worth $1,338,000 after buying an additional 6,500 shares during the period. KBC Group NV lifted its stake in Centene by 27.3% in the fourth quarter. KBC Group NV now owns 1,602,533 shares of the company's stock valued at $97,082,000 after buying an additional 343,559 shares during the last quarter. Finally, Washington Capital Management Inc. boosted 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 acquiring an additional 5,550 shares during the period. 93.63% of the stock is currently owned by institutional investors and hedge funds.

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Centene Price Performance

Shares of NYSE:CNC traded up $0.25 on Wednesday, reaching $62.65. 5,439,758 shares of the company were exchanged, compared to its average volume of 4,674,890. The company has a 50-day moving average of $59.49 and a 200-day moving average of $61.89. 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 cap of $31.08 billion, a price-to-earnings ratio of 10.04, a price-to-earnings-growth ratio of 0.80 and a beta of 0.53. Centene Co. has a 1-year low of $55.03 and a 1-year high of $80.59.

Centene (NYSE:CNC - Get Free Report) last issued its earnings results 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 net margin of 2.03% and a return on equity of 13.85%. The company had revenue of $40.81 billion for 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. Equities analysts forecast that Centene Co. will post 6.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Truist Financial reduced their price target on shares of Centene from $89.00 to $84.00 and set a "buy" rating for the company in a research report on Friday, December 13th. UBS Group upgraded shares of Centene from a "neutral" rating to a "buy" rating and increased their target price for the stock from $79.00 to $80.00 in a research note on Friday, December 13th. Guggenheim began coverage on Centene in a research report on Wednesday. They issued a "neutral" rating on the stock. Wells Fargo & Company reduced their price objective on Centene from $76.00 to $72.00 and set an "overweight" rating for the company in a research note on Friday, February 14th. Finally, JPMorgan Chase & Co. reiterated an "overweight" rating and issued a $75.00 target price (down from $80.00) on shares of Centene in a research note on Tuesday, December 17th. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $80.85.

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.