Stevens Capital Management LP Has $1.12 Million Stock Holdings in Centene Corporation $CNC

Stevens Capital Management LP increased its position in shares of Centene Corporation (NYSE:CNC) by 158.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 20,645 shares of the company’s stock after buying an additional 12,671 shares during the quarter. Stevens Capital Management LP’s holdings in Centene were worth $1,121,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Quarry LP bought a new stake in shares of Centene during the first quarter valued at approximately $26,000. Assetmark Inc. grew its position in Centene by 248.2% in the 2nd quarter. Assetmark Inc. now owns 1,156 shares of the company’s stock valued at $63,000 after purchasing an additional 824 shares during the period. GHP Investment Advisors Inc. increased its stake in Centene by 265.8% during the 2nd quarter. GHP Investment Advisors Inc. now owns 1,178 shares of the company’s stock valued at $64,000 after purchasing an additional 856 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new position in Centene during the second quarter worth $76,000. Finally, Trust Co. of Toledo NA OH bought a new position in shares of Centene in the second quarter valued at $77,000. Institutional investors and hedge funds own 93.63% of the company’s stock.

Analyst Ratings Changes

CNC has been the subject of several recent research reports. Robert W. Baird decreased their target price on shares of Centene from $68.00 to $28.00 and set a “neutral” rating for the company in a research report on Friday, July 25th. The Goldman Sachs Group reissued a “sell” rating and set a $38.00 price objective (up from $33.00) on shares of Centene in a report on Thursday, October 30th. Wells Fargo & Company lowered their price objective on Centene from $41.00 to $35.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 12th. Zacks Research raised Centene from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 29th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Centene in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Centene has an average rating of “Hold” and a consensus target price of $40.00.

Centene Price Performance

CNC opened at $36.45 on Friday. The firm has a market cap of $17.92 billion, a P/E ratio of -3.37, a PEG ratio of 1.24 and a beta of 0.49. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.10 and a current ratio of 1.08. Centene Corporation has a fifty-two week low of $25.08 and a fifty-two week high of $66.81. The firm has a 50-day moving average of $35.43 and a 200 day moving average of $39.21.

Centene (NYSE:CNC) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of ($0.21) by $0.71. Centene had a positive return on equity of 7.82% and a negative net margin of 2.85%.The business had revenue of $49.69 billion for the quarter, compared to the consensus estimate of $47.50 billion. During the same quarter in the prior year, the business earned $1.62 earnings per share. Centene’s revenue for the quarter was up 18.2% on a year-over-year basis. On average, research analysts expect that Centene Corporation will post 6.86 EPS for the current year.

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.