18,824 Shares in Centene Co. (NYSE:CNC) Bought by Bryce Point Capital LLC

Bryce Point Capital LLC acquired a new stake in Centene Co. (NYSE:CNC) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 18,824 shares of the company’s stock, valued at approximately $1,140,000.

A number of other institutional investors and hedge funds have also made changes to their positions in CNC. Diametric Capital LP purchased a new stake in Centene during the 4th quarter valued at approximately $610,000. AIA Group Ltd purchased a new stake in shares of Centene during the fourth quarter worth approximately $411,000. CIBC Private Wealth Group LLC lifted its holdings in shares of Centene by 45.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 9,242 shares of the company’s stock worth $584,000 after purchasing an additional 2,871 shares during the period. MV Capital Management Inc. increased its stake in Centene by 0.6% in the 4th quarter. MV Capital Management Inc. now owns 31,889 shares of the company’s stock valued at $1,932,000 after buying an additional 202 shares during the period. Finally, Allianz SE acquired a new stake in shares of Centene in the 4th quarter worth $190,000. 93.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Truist Financial cut their price target on shares of Centene from $89.00 to $84.00 and set a “buy” rating for the company in a report on Friday, December 13th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $75.00 price target (down from $80.00) on shares of Centene in a report on Tuesday, December 17th. Stephens dropped their price objective on Centene from $75.00 to $73.00 and set an “equal weight” rating on the stock in a report on Friday, December 13th. Oppenheimer reduced their target price on Centene from $95.00 to $85.00 and set an “outperform” rating for the company in a report on Friday, December 13th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $90.00 price target on shares of Centene in a research note on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Centene has an average rating of “Moderate Buy” and a consensus price target of $79.92.

Centene Stock Up 0.4 %

CNC stock opened at $60.69 on Thursday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.11 and a quick ratio of 1.10. Centene Co. has a 12 month low of $55.03 and a 12 month high of $80.59. The firm has a market capitalization of $30.10 billion, a PE ratio of 9.73, a P/E/G ratio of 0.80 and a beta of 0.40. The company’s 50 day simple moving average is $59.79 and its 200-day simple moving average is $62.44.

Centene (NYSE:CNC) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.31. The business had revenue of $40.81 billion for the quarter, compared to analyst estimates of $38.78 billion. Centene had a return on equity of 13.85% and a net margin of 2.03%. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.45 earnings per share. Equities analysts expect that Centene Co. will post 6.86 earnings per share for the current fiscal year.

Centene Company Profile

Centene Corporation operates as a healthcare enterprise that provides programs and services to under-insured and uninsured families, commercial organizations, and military families in the United States. The company operates through Medicaid, Medicare, Commercial, and Other segments. The Medicaid segment offers health plan coverage, including medicaid expansion, aged, blind, disabled, children’s health insurance program, foster care, medicare-medicaid plans, long-term services and support.