Centene Corp (CNC) Shares Bought by Sivik Global Healthcare LLC

Sivik Global Healthcare LLC boosted its position in Centene Corp (NYSE:CNC) by 171.6% during the first quarter, Holdings Channel reports. The fund owned 80,000 shares of the company’s stock after acquiring an additional 50,550 shares during the period. Sivik Global Healthcare LLC’s holdings in Centene were worth $4,248,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CNC. Oregon Public Employees Retirement Fund increased its stake in Centene by 15,334.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,787,010 shares of the company’s stock valued at $85,000 after acquiring an additional 9,723,601 shares during the last quarter. Janus Henderson Group PLC increased its stake in Centene by 114.3% in the first quarter. Janus Henderson Group PLC now owns 4,657,134 shares of the company’s stock valued at $247,296,000 after acquiring an additional 2,484,279 shares during the last quarter. Norges Bank bought a new position in Centene in the fourth quarter valued at $245,858,000. Boston Partners grew its stake in shares of Centene by 272.5% during the first quarter. Boston Partners now owns 2,349,138 shares of the company’s stock valued at $124,739,000 after buying an additional 1,718,535 shares during the last quarter. Finally, BlackRock Inc. grew its stake in shares of Centene by 7.8% during the fourth quarter. BlackRock Inc. now owns 18,126,716 shares of the company’s stock valued at $2,090,011,000 after buying an additional 1,308,641 shares during the last quarter. 49.14% of the stock is currently owned by institutional investors and hedge funds.

NYSE CNC opened at $56.79 on Wednesday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $22.93 billion, a P/E ratio of 16.04, a price-to-earnings-growth ratio of 0.95 and a beta of 1.21. Centene Corp has a 1 year low of $45.44 and a 1 year high of $74.49.

Centene (NYSE:CNC) last posted its earnings results on Tuesday, April 23rd. The company reported $1.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.07. The company had revenue of $18.44 billion for the quarter, compared to analysts’ expectations of $17.44 billion. Centene had a return on equity of 14.60% and a net margin of 1.66%. Centene’s quarterly revenue was up 39.8% on a year-over-year basis. During the same period last year, the firm earned $2.17 earnings per share. As a group, analysts anticipate that Centene Corp will post 4.36 EPS for the current fiscal year.

A number of research analysts have recently issued reports on the company. Zacks Investment Research cut Centene from a “buy” rating to a “hold” rating in a research note on Friday, May 17th. ValuEngine cut Centene from a “sell” rating to a “strong sell” rating in a research note on Thursday, April 18th. Cowen reaffirmed a “buy” rating and set a $77.00 price objective on shares of Centene in a research note on Sunday, March 31st. Cantor Fitzgerald reaffirmed a “buy” rating and set a $83.00 price objective on shares of Centene in a research note on Sunday, April 21st. Finally, Credit Suisse Group reduced their price objective on Centene from $76.00 to $63.00 and set a “neutral” rating on the stock in a research note on Friday, March 29th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $75.80.

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Centene Profile

Centene Corporation operates as a diversified and multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. The company's Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term services and support, foster care, and medicare-medicaid plans, which covers dually eligible individuals, as well as aged, blind, or disabled programs.

Further Reading: What is Forex?

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Institutional Ownership by Quarter for Centene (NYSE:CNC)

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