Centene Corporation $CNC Shares Acquired by Eversept Partners LP

Eversept Partners LP boosted its position in Centene Corporation (NYSE:CNC) by 44.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 324,092 shares of the company’s stock after buying an additional 99,542 shares during the period. Eversept Partners LP owned approximately 0.07% of Centene worth $13,336,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Oracle Investment Management Inc. purchased a new stake in shares of Centene during the 3rd quarter worth $3,936,000. Capitolis Liquid Global Markets LLC boosted its position in shares of Centene by 451.2% during the 3rd quarter. Capitolis Liquid Global Markets LLC now owns 181,900 shares of the company’s stock worth $6,490,000 after purchasing an additional 148,900 shares in the last quarter. Counterpoint Mutual Funds LLC boosted its position in shares of Centene by 161.1% during the 3rd quarter. Counterpoint Mutual Funds LLC now owns 91,943 shares of the company’s stock worth $3,281,000 after purchasing an additional 56,730 shares in the last quarter. Alberta Investment Management Corp boosted its position in shares of Centene by 22.1% during the 3rd quarter. Alberta Investment Management Corp now owns 1,075,000 shares of the company’s stock worth $38,356,000 after purchasing an additional 194,300 shares in the last quarter. Finally, Kennondale Capital Management LLC boosted its position in shares of Centene by 500.0% during the 3rd quarter. Kennondale Capital Management LLC now owns 48,978 shares of the company’s stock worth $1,748,000 after purchasing an additional 40,815 shares in the last quarter. 93.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on CNC shares. TD Cowen restated a “hold” rating and set a $47.00 target price (up from $38.00) on shares of Centene in a research report on Monday, May 4th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $40.00 price target on shares of Centene in a research note on Wednesday, April 29th. UBS Group reaffirmed a “neutral” rating and set a $61.00 price target (up from $55.00) on shares of Centene in a research note on Friday, May 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Centene in a research note on Thursday, June 11th. Finally, JPMorgan Chase & Co. lifted their price target on Centene from $52.00 to $60.00 and gave the stock a “neutral” rating in a research note on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $60.24.

Centene Trading Down 1.4%

Shares of CNC stock opened at $60.52 on Thursday. The firm has a 50-day moving average price of $53.03 and a 200 day moving average price of $44.83. Centene Corporation has a twelve month low of $25.08 and a twelve month high of $66.55. The company has a market capitalization of $29.88 billion, a price-to-earnings ratio of -4.61, a PEG ratio of 0.48 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 (NYSE:CNC) last announced its earnings results on Tuesday, April 28th. The company reported $3.37 earnings per share for the quarter, beating the consensus estimate of $2.23 by $1.14. Centene had a negative net margin of 3.25% and a positive return on equity of 5.57%. The firm had revenue of $49.94 billion during the quarter, compared to the consensus estimate of $47.53 billion. During the same quarter in the previous year, the company posted $2.90 EPS. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. Research analysts forecast that Centene Corporation will post 3.45 earnings per share for the current fiscal year.

About Centene

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.