Semanteon Capital Management LP Buys 1,014 Shares of Centene Co. (NYSE:CNC)

Semanteon Capital Management LP grew its stake in shares of Centene Co. (NYSE:CNC) by 12.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,887 shares of the company’s stock after buying an additional 1,014 shares during the quarter. Semanteon Capital Management LP’s holdings in Centene were worth $538,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CNC. Capital Advisors Ltd. LLC grew its stake in shares of Centene by 75.3% during the fourth quarter. Capital Advisors Ltd. LLC now owns 412 shares of the company’s stock worth $25,000 after buying an additional 177 shares during the last quarter. Rialto Wealth Management LLC bought a new stake in shares of Centene during the fourth quarter worth $30,000. OFI Invest Asset Management bought a new stake in shares of Centene during the fourth quarter worth $33,000. SRS Capital Advisors Inc. grew its stake in shares of Centene by 73.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 631 shares of the company’s stock worth $38,000 after buying an additional 267 shares during the last quarter. Finally, Riverview Trust Co grew its stake in shares of Centene by 172.7% during the fourth quarter. Riverview Trust Co now owns 758 shares of the company’s stock worth $46,000 after buying an additional 480 shares during the last quarter. Institutional investors own 93.63% of the company’s stock.

Centene Price Performance

Shares of NYSE CNC opened at $58.88 on Friday. The firm’s 50-day moving average price is $60.27 and its 200-day moving average price is $63.27. Centene Co. has a 1-year low of $55.03 and a 1-year high of $80.59. The firm has a market capitalization of $29.21 billion, a P/E ratio of 9.44, a P/E/G ratio of 0.80 and a beta of 0.40. The company has a current ratio of 1.11, a quick ratio of 1.10 and a debt-to-equity ratio of 0.70.

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. UBS Group raised shares of Centene from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $79.00 to $80.00 in a research note on Friday, December 13th. Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 price objective on shares of Centene in a research note on Wednesday, December 11th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $75.00 price objective (down previously from $80.00) on shares of Centene in a research note on Tuesday, December 17th. Truist Financial reduced their price objective on shares of Centene from $89.00 to $84.00 and set a “buy” rating on the stock in a research note on Friday, December 13th. Finally, Robert W. Baird boosted their price objective on shares of Centene from $66.00 to $71.00 in a research note on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Centene currently has an average rating of “Moderate Buy” and a consensus price target of $79.92.

Centene 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.