Havemeyer Place LP Takes Position in Centene Corporation $CNC

Havemeyer Place LP bought a new stake in shares of Centene Corporation (NYSE:CNC) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 49,194 shares of the company’s stock, valued at approximately $2,024,000.

Other large investors also recently modified their holdings of the company. BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of Centene by 19.1% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 16,487 shares of the company’s stock worth $678,000 after purchasing an additional 2,640 shares during the last quarter. Pinebridge Investments LLC bought a new position in shares of Centene during the fourth quarter worth about $2,605,000. WINTON GROUP Ltd bought a new position in shares of Centene during the fourth quarter worth about $2,665,000. Parallel Advisors LLC lifted its holdings in Centene by 15.3% in the fourth quarter. Parallel Advisors LLC now owns 18,898 shares of the company’s stock worth $778,000 after acquiring an additional 2,502 shares during the last quarter. Finally, TT Capital Management LLC lifted its holdings in Centene by 9.9% in the fourth quarter. TT Capital Management LLC now owns 15,525 shares of the company’s stock worth $639,000 after acquiring an additional 1,400 shares during the last quarter. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Centene Price Performance

Shares of NYSE:CNC opened at $62.35 on Friday. 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 1 year low of $25.08 and a 1 year high of $63.50. The business has a fifty day simple moving average of $48.20 and a 200 day simple moving average of $43.31. The firm has a market cap of $30.79 billion, a price-to-earnings ratio of -4.75, a P/E/G ratio of 0.49 and a beta of 1.09.

Centene (NYSE:CNC) last released its quarterly earnings data on Tuesday, April 28th. The company reported $3.37 earnings per share (EPS) 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 business had revenue of $49.94 billion during the quarter, compared to analyst estimates of $47.53 billion. During the same quarter in the previous year, the business earned $2.90 EPS. Centene’s quarterly revenue was up 7.1% compared to the same quarter last year. As a group, sell-side analysts predict that Centene Corporation will post 3.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CNC. Morgan Stanley lifted their price target on Centene from $50.00 to $57.00 and gave the company an “equal weight” rating in a report on Thursday. Robert W. Baird lifted their price target on Centene from $36.00 to $37.00 and gave the company a “neutral” rating in a report on Wednesday, April 15th. UBS Group reaffirmed a “neutral” rating and set a $61.00 price target (up from $55.00) on shares of Centene in a report on Friday, May 22nd. Cantor Fitzgerald upgraded shares of Centene from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $41.00 to $60.00 in a research note on Tuesday, April 28th. Finally, Jefferies Financial Group raised their price objective on shares of Centene from $39.00 to $48.00 and gave the company a “hold” rating in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $59.47.

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.