AlphaCore Capital LLC Buys 9,528 Shares of Centene Corporation $CNC

AlphaCore Capital LLC raised its stake in Centene Corporation (NYSE:CNC) by 159.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,493 shares of the company’s stock after acquiring an additional 9,528 shares during the period. AlphaCore Capital LLC’s holdings in Centene were worth $638,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. UniSuper Management Pty Ltd grew its holdings in shares of Centene by 66.0% during the third quarter. UniSuper Management Pty Ltd now owns 85,232 shares of the company’s stock worth $3,041,000 after purchasing an additional 33,875 shares during the last quarter. Oracle Investment Management Inc. bought a new stake in shares of Centene during the third quarter worth $3,936,000. First Citizens Bank & Trust Co. grew its holdings in shares of Centene by 122.5% during the third quarter. First Citizens Bank & Trust Co. now owns 223,157 shares of the company’s stock worth $7,962,000 after purchasing an additional 122,870 shares during the last quarter. ARGA Investment Management LP bought a new stake in shares of Centene during the third quarter worth $21,485,000. Finally, Capitolis Liquid Global Markets LLC grew its holdings in shares of Centene by 451.2% during the third quarter. Capitolis Liquid Global Markets LLC now owns 181,900 shares of the company’s stock worth $6,490,000 after purchasing an additional 148,900 shares during the last quarter. Institutional investors own 93.63% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. The Goldman Sachs Group restated a “sell” rating and set a $40.00 target price on shares of Centene in a report on Wednesday, April 29th. Truist Financial raised their price target on Centene from $49.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Weiss Ratings reiterated a “sell (d)” rating on shares of Centene in a report on Monday, April 20th. Raymond James Financial set a $60.00 price target on Centene in a report on Wednesday, April 29th. Finally, Mizuho raised their price target on Centene from $41.00 to $50.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $53.82.

Centene Stock Up 1.6%

Shares of NYSE:CNC opened at $59.17 on Wednesday. The company has a market capitalization of $29.22 billion, a PE ratio of -4.50, a PEG ratio of 1.12 and a beta of 1.06. 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 company has a 50 day moving average price of $41.87 and a two-hundred day moving average price of $41.19. Centene Corporation has a 52 week low of $25.08 and a 52 week high of $62.21.

Centene (NYSE:CNC) last released 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. The company had revenue of $49.94 billion for the quarter, compared to analyst estimates of $47.53 billion. Centene had a positive return on equity of 5.57% and a negative net margin of 3.25%.Centene’s revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the firm posted $2.90 earnings per share. Analysts forecast that Centene Corporation will post 3.45 earnings per share for the current year.

About Centene

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.