86,255 Shares in Centene Corporation $CNC Acquired by Amitell Capital Pte Ltd

Amitell Capital Pte Ltd purchased a new position in shares of Centene Corporation (NYSE:CNC) in the 4th quarter, Holdings Channel reports. The firm purchased 86,255 shares of the company’s stock, valued at approximately $3,549,000. Centene accounts for about 4.0% of Amitell Capital Pte Ltd’s investment portfolio, making the stock its 11th biggest holding.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Oracle Investment Management Inc. acquired a new stake in shares of Centene in the third quarter worth $3,936,000. Capitolis Liquid Global Markets LLC increased its position in shares of Centene by 451.2% in the third quarter. Capitolis Liquid Global Markets LLC now owns 181,900 shares of the company’s stock worth $6,490,000 after acquiring an additional 148,900 shares in the last quarter. Counterpoint Mutual Funds LLC increased its position in shares of Centene by 161.1% in the third quarter. Counterpoint Mutual Funds LLC now owns 91,943 shares of the company’s stock worth $3,281,000 after acquiring an additional 56,730 shares in the last quarter. Alberta Investment Management Corp increased its position in shares of Centene by 22.1% in the third quarter. Alberta Investment Management Corp now owns 1,075,000 shares of the company’s stock worth $38,356,000 after acquiring an additional 194,300 shares in the last quarter. Finally, Kennondale Capital Management LLC increased its position in shares of Centene by 500.0% in the third quarter. Kennondale Capital Management LLC now owns 48,978 shares of the company’s stock worth $1,748,000 after acquiring an additional 40,815 shares in the last quarter. Institutional investors and hedge funds own 93.63% of the company’s stock.

Centene Trading Down 2.8%

NYSE CNC opened at $63.53 on Friday. Centene Corporation has a 12 month low of $25.08 and a 12 month high of $66.55. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market capitalization of $31.37 billion, a price-to-earnings ratio of -4.83, a price-to-earnings-growth ratio of 0.51 and a beta of 1.09. The company’s fifty day moving average price is $50.81 and its two-hundred day moving average price is $44.17.

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

Analysts Set New Price Targets

Several research firms have recently issued reports on CNC. Morgan Stanley increased their price objective on shares of Centene from $50.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 4th. The Goldman Sachs Group reissued a “sell” rating and issued a $40.00 price objective on shares of Centene in a research report on Wednesday, April 29th. Bank of America increased their price objective on shares of Centene from $72.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. Weiss Ratings restated a “sell (d)” rating on shares of Centene in a research note on Monday, April 20th. Finally, Wells Fargo & Company upped their target price on shares of Centene from $44.00 to $56.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Centene presently has an average rating of “Hold” and an average price target of $60.24.

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.