AXQ Capital LP Raises Stock Holdings in Centene Corporation $CNC

AXQ Capital LP lifted its holdings in Centene Corporation (NYSE:CNC) by 454.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 35,852 shares of the company’s stock after buying an additional 29,388 shares during the quarter. AXQ Capital LP’s holdings in Centene were worth $1,475,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Addison Advisors LLC increased its holdings in Centene by 455.6% during the 3rd quarter. Addison Advisors LLC now owns 739 shares of the company’s stock worth $26,000 after purchasing an additional 606 shares during the period. SBI Securities Co. Ltd. increased its holdings in Centene by 118.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 749 shares of the company’s stock worth $31,000 after purchasing an additional 406 shares during the period. Ameriflex Group Inc. increased its holdings in Centene by 152.5% during the 3rd quarter. Ameriflex Group Inc. now owns 1,010 shares of the company’s stock worth $36,000 after purchasing an additional 610 shares during the period. GoalVest Advisory LLC purchased a new position in Centene during the 4th quarter worth $37,000. Finally, Union Bancaire Privee UBP SA purchased a new position in Centene during the 4th quarter worth $37,000. 93.63% of the stock is currently owned by hedge funds and other institutional investors.

Centene Stock Performance

Shares of CNC opened at $61.97 on Tuesday. The stock has a 50-day moving average of $45.97 and a two-hundred day moving average of $42.66. Centene Corporation has a one year low of $25.08 and a one year high of $62.10. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market cap of $30.60 billion, a P/E ratio of -4.72, a P/E/G ratio of 0.47 and a beta of 1.09.

Centene (NYSE:CNC) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $3.37 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $1.14. Centene had a positive return on equity of 5.57% and a negative net margin of 3.25%.The company had revenue of $49.94 billion during the quarter, compared to analysts’ expectations of $47.53 billion. During the same quarter in the previous year, the firm posted $2.90 EPS. The firm’s revenue was up 7.1% compared to the same quarter last year. As a group, research analysts predict that Centene Corporation will post 3.45 EPS for the current year.

Analyst Upgrades and Downgrades

CNC has been the topic of several research reports. Morgan Stanley raised their price objective on Centene from $45.00 to $50.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 29th. The Goldman Sachs Group restated a “sell” rating and set a $40.00 price objective on shares of Centene in a report on Wednesday, April 29th. Robert W. Baird raised their price objective on Centene from $36.00 to $37.00 and gave the stock a “neutral” rating in a report on Wednesday, April 15th. JPMorgan Chase & Co. lifted their price target on Centene from $41.00 to $52.00 and gave the company a “neutral” rating in a report on Tuesday, May 5th. Finally, Jefferies Financial Group lifted their price target on Centene from $39.00 to $48.00 and gave the company a “hold” rating in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Centene has an average rating of “Hold” and a consensus price target of $58.94.

Centene Profile

Centene Corporation (NYSE: CNC) is a diversified, multi-national healthcare enterprise that specializes in providing services to government-sponsored and national health programs. The company primarily acts as a managed care organization, delivering healthcare coverage and administering benefits for Medicaid, the Children’s Health Insurance Program (CHIP), Medicare Advantage, and individual marketplace plans. Centene also contracts with federal and state agencies to manage specialty care programs and community-based services for vulnerable populations.

Centene’s offerings extend beyond traditional insurance to include a range of specialty and support services.