Stevens Capital Management LP Buys 3,776 Shares of Centene Co. (NYSE:CNC)

Stevens Capital Management LP grew its stake in Centene Co. (NYSE:CNC) by 66.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,473 shares of the company’s stock after acquiring an additional 3,776 shares during the quarter. Stevens Capital Management LP’s holdings in Centene were worth $574,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CNC. Capital Advisors Ltd. LLC increased its stake in Centene by 75.3% during the 4th quarter. Capital Advisors Ltd. LLC now owns 412 shares of the company’s stock worth $25,000 after purchasing an additional 177 shares in the last quarter. Rialto Wealth Management LLC bought a new stake in Centene during the 4th quarter worth approximately $30,000. OFI Invest Asset Management bought a new stake in Centene during the 4th quarter worth approximately $33,000. SRS Capital Advisors Inc. increased its stake in Centene by 73.4% during the 4th quarter. SRS Capital Advisors Inc. now owns 631 shares of the company’s stock worth $38,000 after purchasing an additional 267 shares in the last quarter. Finally, Riverview Trust Co increased its stake in Centene by 172.7% during the 4th quarter. Riverview Trust Co now owns 758 shares of the company’s stock worth $46,000 after purchasing an additional 480 shares in the last quarter. 93.63% of the stock is owned by institutional investors.

Centene Stock Performance

Shares of CNC stock opened at $58.88 on Monday. The business’s 50-day moving average price is $60.27 and its 200-day moving average price is $63.08. 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 $29.21 billion, a price-to-earnings ratio of 9.44, a PEG 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 posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.31. The company 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 firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.45 earnings per share. Equities research analysts forecast that Centene Co. will post 6.86 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Truist Financial lowered their target price on Centene from $89.00 to $84.00 and set a “buy” rating for the company in a research note on Friday, December 13th. Wells Fargo & Company reduced their price target on Centene from $76.00 to $72.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. Argus downgraded Centene from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $75.00 price target (down previously from $80.00) on shares of Centene in a research report on Tuesday, December 17th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $90.00 price target on shares of Centene in a research report on Wednesday, December 11th. One equities 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 stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $79.92.

About Centene

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.