Neo Ivy Capital Management Takes Position in Centene Co. (NYSE:CNC)

Neo Ivy Capital Management purchased a new position in shares of Centene Co. (NYSE:CNC - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 37,740 shares of the company's stock, valued at approximately $2,286,000.

Other institutional investors have also bought and sold shares of the company. Osborne Partners Capital Management LLC grew its holdings in Centene by 5.0% during the fourth quarter. Osborne Partners Capital Management LLC now owns 221,156 shares of the company's stock worth $13,398,000 after buying an additional 10,515 shares in the last quarter. KBC Group NV boosted its position in Centene by 27.3% in the fourth quarter. KBC Group NV now owns 1,602,533 shares of the company's stock worth $97,082,000 after purchasing an additional 343,559 shares during the last quarter. Washington Capital Management Inc. boosted its position in Centene by 40.9% in the fourth quarter. Washington Capital Management Inc. now owns 19,130 shares of the company's stock worth $1,159,000 after purchasing an additional 5,550 shares during the last quarter. Hussman Strategic Advisors Inc. purchased a new position in Centene in the fourth quarter worth $1,272,000. Finally, Bonfire Financial purchased a new position in Centene in the fourth quarter worth $490,000. Institutional investors own 93.63% of the company's stock.

Centene Price Performance

Shares of Centene stock opened at $58.03 on Friday. The business's 50-day moving average price is $60.83 and its 200-day moving average price is $60.40. 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 12 month low of $55.03 and a 12 month high of $80.59. The firm has a market capitalization of $28.88 billion, a PE ratio of 9.30, a price-to-earnings-growth ratio of 0.80 and a beta of 0.48.

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on CNC shares. Wells Fargo & Company cut their price objective on Centene from $76.00 to $72.00 and set an "overweight" rating on the stock in a research report on Friday, February 14th. Robert W. Baird cut their price target on Centene from $71.00 to $69.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. Wall Street Zen downgraded Centene from a "strong-buy" rating to a "buy" rating in a research note on Monday, April 28th. Barclays reduced their price objective on shares of Centene from $93.00 to $84.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. Finally, Argus lowered shares of Centene from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. 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, Centene currently has an average rating of "Moderate Buy" and an average target price of $79.77.

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.

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