Qsemble Capital Management LP Invests $7.60 Million in Centene Corporation $CNC

Qsemble Capital Management LP purchased a new position in shares of Centene Corporation (NYSE:CNC) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 184,700 shares of the company’s stock, valued at approximately $7,600,000.

Several other large investors also recently made changes to their positions in CNC. Baird Financial Group Inc. bought a new stake in shares of Centene during the 1st quarter worth about $236,000. Sivia Capital Partners LLC lifted its position in shares of Centene by 80.0% during the 2nd quarter. Sivia Capital Partners LLC now owns 9,710 shares of the company’s stock worth $527,000 after purchasing an additional 4,315 shares during the last quarter. CW Advisors LLC lifted its position in shares of Centene by 20.3% during the 2nd quarter. CW Advisors LLC now owns 4,863 shares of the company’s stock worth $264,000 after purchasing an additional 820 shares during the last quarter. NewEdge Advisors LLC lifted its position in shares of Centene by 6.1% during the 2nd quarter. NewEdge Advisors LLC now owns 44,945 shares of the company’s stock worth $2,440,000 after purchasing an additional 2,582 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its position in shares of Centene by 0.4% during the 2nd quarter. Treasurer of the State of North Carolina now owns 231,938 shares of the company’s stock worth $12,590,000 after purchasing an additional 967 shares during the last quarter. Institutional investors own 93.63% of the company’s stock.

Centene Trading Down 0.8%

Centene stock opened at $58.25 on Friday. The business has a 50 day moving average price of $41.26 and a two-hundred day moving average price of $40.81. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.76. The stock has a market cap of $28.76 billion, a price-to-earnings ratio of -4.43, a price-to-earnings-growth ratio of 1.13 and a beta of 1.06. Centene Corporation has a 12 month low of $25.08 and a 12 month high of $62.21.

Centene (NYSE:CNC) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $3.37 EPS for the quarter, beating the consensus estimate 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%.The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.90 EPS. As a group, equities analysts forecast that Centene Corporation will post 3.45 EPS for the current year.

Analyst Upgrades and Downgrades

CNC has been the subject of several research analyst reports. Oppenheimer reissued an “outperform” rating and set a $58.00 price objective (up from $45.00) on shares of Centene in a research report on Wednesday, April 29th. Weiss Ratings reissued a “sell (d)” rating on shares of Centene in a research report on Monday, April 20th. Cantor Fitzgerald raised Centene from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $41.00 to $60.00 in a research report on Tuesday, April 28th. Barclays reissued an “overweight” rating and set a $63.00 price objective (up from $54.00) on shares of Centene in a research report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. boosted their price objective on Centene from $41.00 to $52.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Centene currently has a consensus rating of “Hold” and an average target price of $53.82.

Centene Profile

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.