AlphaCrest Capital Management LLC boosted its holdings in shares of Centene Co. (NYSE:CNC) by 145.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,422 shares of the company’s stock after buying an additional 15,660 shares during the quarter. AlphaCrest Capital Management LLC’s holdings in Centene were worth $1,646,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its position in shares of Centene by 4.3% in the second quarter. Price T Rowe Associates Inc. MD now owns 29,512,722 shares of the company’s stock worth $2,152,363,000 after purchasing an additional 1,205,189 shares during the period. Boston Partners boosted its position in shares of Centene by 1.8% in the third quarter. Boston Partners now owns 9,520,749 shares of the company’s stock worth $593,388,000 after purchasing an additional 165,333 shares during the period. Geode Capital Management LLC boosted its position in shares of Centene by 3.6% in the second quarter. Geode Capital Management LLC now owns 9,030,717 shares of the company’s stock worth $656,524,000 after purchasing an additional 309,675 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Centene by 2.9% in the second quarter. Bank of New York Mellon Corp now owns 7,303,060 shares of the company’s stock worth $532,612,000 after purchasing an additional 208,390 shares during the period. Finally, Deutsche Bank AG boosted its position in shares of Centene by 12.2% in the third quarter. Deutsche Bank AG now owns 6,552,718 shares of the company’s stock worth $408,299,000 after purchasing an additional 714,016 shares during the period. Institutional investors own 90.60% of the company’s stock.
Shares of CNC opened at $77.61 on Thursday. The company has a market cap of $45.29 billion, a P/E ratio of 62.59, a P/E/G ratio of 1.12 and a beta of 0.54. Centene Co. has a twelve month low of $57.16 and a twelve month high of $85.44. The company’s fifty day simple moving average is $78.22 and its 200-day simple moving average is $70.97. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.70.
Centene (NYSE:CNC) last posted its quarterly earnings results on Monday, October 25th. The company reported $1.26 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.29 by ($0.03). The company had revenue of $32.41 billion during the quarter, compared to analysts’ expectations of $31.63 billion. Centene had a return on equity of 10.33% and a net margin of 0.60%. The company’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.26 EPS. Analysts predict that Centene Co. will post 5.12 earnings per share for the current fiscal year.
In related news, EVP David P. Thomas sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, January 11th. The shares were sold at an average price of $77.61, for a total value of $310,440.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Mark J. Brooks sold 8,296 shares of the firm’s stock in a transaction dated Thursday, October 28th. The stock was sold at an average price of $70.17, for a total transaction of $582,130.32. The disclosure for this sale can be found here. Insiders sold a total of 127,419 shares of company stock worth $9,752,253 in the last ninety days. 1.80% of the stock is currently owned by insiders.
A number of equities analysts have weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Centene in a research report on Tuesday, December 14th. They issued a “neutral” rating and a $83.00 price target for the company. TheStreet upgraded shares of Centene from a “c+” rating to a “b” rating in a research report on Wednesday, November 3rd. Credit Suisse Group upped their target price on shares of Centene from $75.00 to $86.00 and gave the stock a “neutral” rating in a research report on Monday, December 13th. Wolfe Research upped their target price on shares of Centene from $72.00 to $80.00 and gave the stock an “outperform” rating in a research report on Monday, December 13th. Finally, Stephens upped their target price on shares of Centene from $82.00 to $102.00 and gave the stock an “overweight” rating in a research report on Monday, December 13th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Centene presently has an average rating of “Buy” and a consensus target price of $89.78.
Centene Profile
Centene Corp. operates as a healthcare enterprise, which engages in the provision of programs and services to government sponsored healthcare programs. It operates through the following segments: Managed Care and Specialty Services. The Medicaid Managed Care segment provides health plan coverage to individuals through government subsidized programs through Medicaid.
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