Columbus Circle Investors Has $19.56 Million Stake in Centene Co. (CNC)
Columbus Circle Investors grew its holdings in shares of Centene Co. (NYSE:CNC) by 34.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 183,037 shares of the company’s stock after buying an additional 47,118 shares during the quarter. Columbus Circle Investors owned 0.09% of Centene worth $19,561,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. grew its holdings in shares of Centene by 4.6% during the fourth quarter. BlackRock Inc. now owns 13,939,406 shares of the company’s stock valued at $1,406,209,000 after buying an additional 616,914 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Centene by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 2,252,890 shares of the company’s stock valued at $226,889,000 after purchasing an additional 72,566 shares in the last quarter. Deutsche Bank AG lifted its position in shares of Centene by 19.1% during the fourth quarter. Deutsche Bank AG now owns 1,775,194 shares of the company’s stock valued at $179,077,000 after purchasing an additional 284,620 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of Centene by 68.2% during the fourth quarter. Acadian Asset Management LLC now owns 1,239,278 shares of the company’s stock valued at $125,021,000 after purchasing an additional 502,329 shares in the last quarter. Finally, Guggenheim Capital LLC lifted its position in shares of Centene by 6.7% during the fourth quarter. Guggenheim Capital LLC now owns 926,418 shares of the company’s stock valued at $93,456,000 after purchasing an additional 58,162 shares in the last quarter. Hedge funds and other institutional investors own 77.63% of the company’s stock.
A number of research firms recently weighed in on CNC. Morgan Stanley raised their price target on shares of Centene from $126.00 to $127.00 and gave the company an “overweight” rating in a research report on Wednesday, April 25th. Zacks Investment Research lowered shares of Centene from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 10th. Cantor Fitzgerald reissued a “buy” rating and set a $125.00 price target on shares of Centene in a research report on Monday, April 2nd. BMO Capital Markets reissued a “buy” rating on shares of Centene in a research report on Monday, March 26th. Finally, Leerink Swann reissued a “market perform” rating and set a $90.00 price target (down from $100.00) on shares of Centene in a research report on Tuesday, February 13th. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Centene has an average rating of “Buy” and a consensus price target of $113.63.
Centene opened at $114.57 on Friday, according to Marketbeat. The company has a market capitalization of $23.20 billion, a PE ratio of 18.59, a price-to-earnings-growth ratio of 1.09 and a beta of 0.75. Centene Co. has a 12-month low of $112.34 and a 12-month high of $113.36. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.01.
Centene (NYSE:CNC) last issued its quarterly earnings data on Tuesday, April 24th. The company reported $2.17 EPS for the quarter, beating the consensus estimate of $1.92 by $0.25. The company had revenue of $13.19 billion during the quarter, compared to analysts’ expectations of $13.33 billion. Centene had a net margin of 2.06% and a return on equity of 15.69%. Centene’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.12 earnings per share. research analysts predict that Centene Co. will post 7.05 earnings per share for the current fiscal year.
Centene Corporation operates as a diversified and multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. It operates through two segments, Managed Care and Specialty Services. The Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term care, foster care, and dual eligible individual, as well as aged, blind, or disabled programs.
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