Semanteon Capital Management LP Buys 1,014 Shares of Centene Co. (NYSE:CNC)

Semanteon Capital Management LP grew its stake in Centene Co. (NYSE:CNC) by 12.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,887 shares of the company’s stock after acquiring an additional 1,014 shares during the period. Semanteon Capital Management LP’s holdings in Centene were worth $538,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Blueshift Asset Management LLC grew its holdings in shares of Centene by 128.9% in the 4th quarter. Blueshift Asset Management LLC now owns 24,016 shares of the company’s stock valued at $1,455,000 after acquiring an additional 13,523 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in Centene by 57.4% during the fourth quarter. Teacher Retirement System of Texas now owns 390,002 shares of the company’s stock worth $23,626,000 after purchasing an additional 142,195 shares during the period. OVERSEA CHINESE BANKING Corp Ltd bought a new position in Centene during the fourth quarter worth about $552,000. Intech Investment Management LLC grew its holdings in Centene by 4,390.8% during the fourth quarter. Intech Investment Management LLC now owns 687,814 shares of the company’s stock worth $41,668,000 after purchasing an additional 672,498 shares during the period. Finally, Generali Asset Management SPA SGR bought a new position in Centene during the fourth quarter worth about $427,000. Institutional investors own 93.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CNC shares. StockNews.com cut Centene from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. Oppenheimer reduced their price target on Centene from $95.00 to $85.00 and set an “outperform” rating for the company in a report 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 report on Friday, February 14th. JPMorgan Chase & Co. restated an “overweight” rating and set a $75.00 price objective (down from $80.00) on shares of Centene in a research report on Tuesday, December 17th. Finally, Truist Financial cut their price objective on shares of Centene from $89.00 to $84.00 and set a “buy” rating for the company in a research report on Friday, December 13th. 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 company. According to MarketBeat.com, Centene currently has a consensus rating of “Moderate Buy” and an average target price of $79.92.

Centene Stock Down 1.2 %

NYSE CNC opened at $58.88 on Friday. 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 Co. has a 1-year low of $55.03 and a 1-year high of $80.59. The company has a 50 day moving average of $60.27 and a 200-day moving average of $63.27. The company has a market cap of $29.21 billion, a price-to-earnings ratio of 9.44, a PEG ratio of 0.80 and a beta of 0.40.

Centene (NYSE:CNC) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.49 by $0.31. Centene had a net margin of 2.03% and a return on equity of 13.85%. The business had revenue of $40.81 billion during the quarter, compared to the consensus estimate of $38.78 billion. During the same period in the previous year, the business earned $0.45 earnings per share. The company’s revenue was up 3.4% on a year-over-year basis. On average, equities research analysts expect that Centene Co. will post 6.86 earnings per share for the current fiscal year.

Centene Company Profile

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.