Centene Corporation $CNC Shares Bought by Ariadne Wealth Management LP

Ariadne Wealth Management LP grew its holdings in shares of Centene Corporation (NYSE:CNC) by 106.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 17,285 shares of the company’s stock after buying an additional 8,931 shares during the period. Ariadne Wealth Management LP’s holdings in Centene were worth $677,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of Centene by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 56,978,753 shares of the company’s stock worth $2,344,676,000 after acquiring an additional 190,334 shares during the period. AQR Capital Management LLC grew its holdings in shares of Centene by 76.6% in the 3rd quarter. AQR Capital Management LLC now owns 14,654,834 shares of the company’s stock worth $522,885,000 after acquiring an additional 6,356,152 shares during the period. Geode Capital Management LLC grew its holdings in shares of Centene by 5.5% in the 4th quarter. Geode Capital Management LLC now owns 13,271,492 shares of the company’s stock worth $554,338,000 after acquiring an additional 697,277 shares during the period. Deerfield Management Company L.P. grew its holdings in shares of Centene by 184.0% in the 3rd quarter. Deerfield Management Company L.P. now owns 9,046,000 shares of the company’s stock worth $322,761,000 after acquiring an additional 5,860,630 shares during the period. Finally, Morgan Stanley grew its holdings in shares of Centene by 7.2% in the 4th quarter. Morgan Stanley now owns 9,002,570 shares of the company’s stock worth $370,456,000 after acquiring an additional 603,585 shares during the period. Institutional investors and hedge funds own 93.63% of the company’s stock.

Centene Trading Up 2.6%

Shares of Centene stock opened at $65.18 on Friday. Centene Corporation has a fifty-two week low of $25.08 and a fifty-two week high of $66.55. The firm has a market cap of $32.18 billion, a PE ratio of -4.96, a P/E/G ratio of 0.51 and a beta of 1.09. The business’s fifty day moving average is $51.43 and its two-hundred day moving average is $44.32. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.76.

Centene (NYSE:CNC) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $3.37 earnings per share for the quarter, topping analysts’ consensus estimates of $2.23 by $1.14. The company had revenue of $49.94 billion for the quarter, compared to analyst estimates of $47.53 billion. Centene had a positive return on equity of 5.57% and a negative net margin of 3.25%.The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.90 EPS. Analysts anticipate that Centene Corporation will post 3.45 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on CNC. Raymond James Financial set a $60.00 price target on Centene in a report on Wednesday, April 29th. UBS Group reaffirmed a “neutral” rating and issued a $61.00 target price (up from $55.00) on shares of Centene in a research note on Friday, May 22nd. Zacks Research raised Centene from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 6th. Mizuho set a $63.00 target price on Centene and gave the company a “neutral” rating in a research note on Monday, June 8th. Finally, Bank of America upped their target price on Centene from $72.00 to $74.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. One 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.com, the stock presently has an average rating of “Hold” and an average price target of $60.24.

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.