Centene Corporation $CNC Shares Acquired by Ariadne Wealth Management LP

Ariadne Wealth Management LP grew its position in Centene Corporation (NYSE:CNC) by 106.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,285 shares of the company’s stock after buying an additional 8,931 shares during the quarter. Ariadne Wealth Management LP’s holdings in Centene were worth $677,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of CNC. Addison Advisors LLC grew its stake in shares of Centene by 455.6% in the third quarter. Addison Advisors LLC now owns 739 shares of the company’s stock valued at $26,000 after buying an additional 606 shares in the last quarter. IFC & Insurance Marketing Inc. acquired a new stake in shares of Centene in the fourth quarter valued at $28,000. SBI Securities Co. Ltd. grew its stake in shares of Centene by 118.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 749 shares of the company’s stock valued at $31,000 after buying an additional 406 shares in the last quarter. Ameriflex Group Inc. grew its stake 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 in the last quarter. Finally, GoalVest Advisory LLC purchased a new stake in Centene during the 4th quarter worth about $37,000. 93.63% of the stock is owned by institutional investors and hedge funds.

Centene Stock Up 2.6%

Centene stock opened at $65.18 on Friday. The stock has a 50-day simple moving average of $51.43 and a 200-day simple moving average of $44.32. 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 market capitalization of $32.18 billion, a P/E ratio of -4.96, a PEG ratio of 0.51 and a beta of 1.09. Centene Corporation has a fifty-two week low of $25.08 and a fifty-two week high of $66.55.

Centene (NYSE:CNC) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $3.37 EPS for the quarter, beating the consensus estimate of $2.23 by $1.14. The firm had revenue of $49.94 billion during the quarter, compared to the consensus estimate of $47.53 billion. Centene had a positive return on equity of 5.57% and a negative net margin of 3.25%.The firm’s revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.90 EPS. Equities research analysts expect that Centene Corporation will post 3.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CNC shares. Mizuho set a $63.00 price target on Centene and gave the company a “neutral” rating in a research report on Monday, June 8th. TD Cowen reaffirmed a “hold” rating and issued a $47.00 price target (up from $38.00) on shares of Centene in a research report on Monday, May 4th. Sanford C. Bernstein lifted their price objective on shares of Centene from $48.00 to $68.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. The Goldman Sachs Group reiterated a “sell” rating and set a $40.00 target price on shares of Centene in a research note on Wednesday, April 29th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Centene in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $60.24.

Centene Company 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.