Mariner LLC Cuts Position in Centene Co. (NYSE:CNC)

Mariner LLC lowered its position in Centene Co. (NYSE:CNC) by 7.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,295 shares of the company’s stock after selling 8,190 shares during the quarter. Mariner LLC’s holdings in Centene were worth $6,439,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Capital Advisors Ltd. LLC increased its holdings in shares of Centene by 75.3% in 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 period. Hurley Capital LLC bought a new stake in Centene during the 4th quarter valued at $26,000. Rialto Wealth Management LLC purchased a new stake in Centene during the 4th quarter valued at $30,000. OFI Invest Asset Management bought a new stake in Centene in the 4th quarter worth $33,000. Finally, SRS Capital Advisors Inc. increased its position in shares of Centene by 73.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 631 shares of the company’s stock valued at $38,000 after acquiring an additional 267 shares during the period. 93.63% of the stock is currently owned by institutional investors.

Centene Trading Down 2.1 %

NYSE:CNC opened at $60.70 on Friday. The stock has a market cap of $30.11 billion, a price-to-earnings ratio of 9.73, a PEG ratio of 0.80 and a beta of 0.53. The company has a quick ratio of 1.10, a current ratio of 1.11 and a debt-to-equity ratio of 0.70. The company’s 50 day moving average price is $59.77 and its 200-day moving average price is $61.31. Centene Co. has a 52 week low of $55.03 and a 52 week high of $80.59.

Centene (NYSE:CNC) last posted its earnings results on Tuesday, February 4th. The company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.31. The business had revenue of $40.81 billion during 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 company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.45 EPS. On average, equities research analysts forecast that Centene Co. will post 6.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CNC. Guggenheim began coverage on Centene in a research note on Wednesday, April 9th. They issued a “neutral” rating on the stock. Wells Fargo & Company reduced their target price on Centene from $76.00 to $72.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. Jefferies Financial Group raised Centene from an “underperform” rating to a “hold” rating and raised their price target for the stock from $53.00 to $64.00 in a research note on Tuesday, April 8th. Argus downgraded shares of Centene from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Finally, Robert W. Baird decreased their price target on shares of Centene from $71.00 to $69.00 and set a “neutral” rating for the company in a research note on Tuesday, April 15th. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.69.

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.