Brevan Howard Capital Management LP Buys 38,775 Shares of Centene Co. (NYSE:CNC)

Brevan Howard Capital Management LP raised its stake in shares of Centene Co. (NYSE:CNC - Free Report) by 91.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 81,053 shares of the company's stock after buying an additional 38,775 shares during the quarter. Brevan Howard Capital Management LP's holdings in Centene were worth $4,910,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Capital Advisors Ltd. LLC increased its stake in Centene by 75.3% in the fourth quarter. Capital Advisors Ltd. LLC now owns 412 shares of the company's stock valued at $25,000 after purchasing an additional 177 shares in the last quarter. Hurley Capital LLC acquired a new stake in Centene during the 4th quarter worth $26,000. Rialto Wealth Management LLC bought a new position in Centene during the fourth quarter worth about $30,000. OFI Invest Asset Management bought a new stake in shares of Centene in the fourth quarter worth about $33,000. Finally, SRS Capital Advisors Inc. lifted its holdings in shares of Centene by 73.4% during the 4th quarter. SRS Capital Advisors Inc. now owns 631 shares of the company's stock valued at $38,000 after purchasing an additional 267 shares in the last quarter. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Centene Stock Performance

Shares of NYSE:CNC traded down $0.53 on Thursday, hitting $62.39. The company had a trading volume of 5,007,529 shares, compared to its average volume of 4,799,918. The stock has a 50 day moving average price of $60.43 and a 200 day moving average price of $60.48. The company has a current ratio of 1.11, a quick ratio of 1.10 and a debt-to-equity ratio of 0.70. The stock has a market cap of $31.04 billion, a price-to-earnings ratio of 10.00, a P/E/G ratio of 0.80 and a beta of 0.48. Centene Co. has a 1-year low of $55.03 and a 1-year high of $80.59.

Centene (NYSE:CNC - Get Free Report) last released its quarterly earnings results on Friday, April 25th. The company reported $2.90 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.38. Centene had a net margin of 2.03% and a return on equity of 13.85%. The firm had revenue of $46.62 billion for the quarter, compared to analysts' expectations of $43.16 billion. During the same period in the prior year, the firm earned $2.26 EPS. The business's revenue was up 15.4% on a year-over-year basis. Analysts expect that Centene Co. will post 6.86 EPS for the current year.

Wall Street Analyst Weigh In

CNC has been the subject of a number of research reports. Barclays lowered their target price on Centene from $93.00 to $84.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. Jefferies Financial Group cut their price objective on shares of Centene from $64.00 to $61.00 and set a "hold" rating on the stock in a research report on Tuesday, April 29th. Robert W. Baird decreased their price objective on Centene from $71.00 to $69.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Argus downgraded Centene from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Finally, Guggenheim reiterated a "neutral" rating on shares of Centene in a research note on Tuesday, April 29th. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $79.77.

About Centene

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.