Sivia Capital Partners LLC Has $2.52 Million Position in Centene Corporation $CNC

Sivia Capital Partners LLC raised its stake in Centene Corporation (NYSE:CNC) by 280.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 61,111 shares of the company’s stock after purchasing an additional 45,044 shares during the period. Centene accounts for approximately 0.5% of Sivia Capital Partners LLC’s investment portfolio, making the stock its 25th biggest position. Sivia Capital Partners LLC’s holdings in Centene were worth $2,515,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Addison Advisors LLC increased its holdings in shares of Centene by 455.6% in the third quarter. Addison Advisors LLC now owns 739 shares of the company’s stock valued at $26,000 after purchasing an additional 606 shares during the last quarter. SBI Securities Co. Ltd. lifted its position in shares of Centene by 118.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 749 shares of the company’s stock valued at $31,000 after acquiring an additional 406 shares during the period. GoalVest Advisory LLC bought a new stake in shares of Centene during the 4th quarter valued at $37,000. Union Bancaire Privee UBP SA bought a new stake in shares of Centene during the 4th quarter valued at $37,000. Finally, Elyxium Wealth LLC bought a new stake in shares of Centene during the 4th quarter valued at $41,000. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CNC has been the subject of several recent analyst reports. Raymond James Financial set a $60.00 price objective on shares of Centene in a research report on Wednesday, April 29th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $40.00 price objective on shares of Centene in a research report on Wednesday, April 29th. JPMorgan Chase & Co. upped their price objective on shares of Centene from $41.00 to $52.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 5th. Wells Fargo & Company upped their price objective on shares of Centene from $44.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Finally, Cantor Fitzgerald raised shares of Centene from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $41.00 to $60.00 in a research report on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $58.94.

Centene Stock Down 0.6%

CNC stock opened at $59.64 on Thursday. The stock has a market capitalization of $29.45 billion, a P/E ratio of -4.54, a price-to-earnings-growth ratio of 0.47 and a beta of 1.09. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.76. Centene Corporation has a 12 month low of $25.08 and a 12 month high of $62.10. The firm has a 50-day moving average price of $47.01 and a 200-day moving average price of $42.99.

Centene (NYSE:CNC) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $1.14. The business had revenue of $49.94 billion during the quarter, compared to analyst estimates of $47.53 billion. Centene had a negative net margin of 3.25% and a positive return on equity of 5.57%. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the business earned $2.90 EPS. As a group, equities research analysts anticipate that Centene Corporation will post 3.45 EPS for the current fiscal year.

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.