Two Sigma Advisers LP Buys Shares of 1,310,176 Centene Co. (NYSE:CNC)

Two Sigma Advisers LP purchased a new stake in shares of Centene Co. (NYSE:CNC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,310,176 shares of the company's stock, valued at approximately $79,370,000. Two Sigma Advisers LP owned approximately 0.26% of Centene at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of CNC. Ritholtz Wealth Management lifted its position in shares of Centene by 14.0% in the fourth quarter. Ritholtz Wealth Management now owns 4,791 shares of the company's stock worth $290,000 after purchasing an additional 589 shares in the last quarter. Merit Financial Group LLC purchased a new stake in Centene in the 4th quarter worth approximately $759,000. Ameritas Advisory Services LLC acquired a new stake in shares of Centene during the 4th quarter valued at $355,000. Grove Bank & Trust grew its holdings in shares of Centene by 23.1% during the 4th quarter. Grove Bank & Trust now owns 11,039 shares of the company's stock valued at $669,000 after acquiring an additional 2,075 shares in the last quarter. Finally, Diversify Wealth Management LLC raised its holdings in shares of Centene by 44.0% during the fourth quarter. Diversify Wealth Management LLC now owns 9,407 shares of the company's stock worth $582,000 after acquiring an additional 2,876 shares in the last quarter. 93.63% of the stock is owned by institutional investors and hedge funds.

Centene Price Performance

NYSE CNC opened at $61.47 on Tuesday. The stock has a 50-day simple moving average of $60.72 and a 200 day simple moving average of $60.43. Centene Co. has a twelve month low of $55.03 and a twelve month high of $80.59. The stock has a market capitalization of $30.59 billion, a PE ratio of 9.85, a P/E/G ratio of 0.80 and a beta of 0.48. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.10 and a current ratio of 1.11.

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

Analyst Ratings Changes

CNC has been the topic of a number of recent research reports. Jefferies Financial Group lowered their target price on Centene from $64.00 to $61.00 and set a "hold" rating on the stock in a research note on Tuesday, April 29th. Argus downgraded Centene from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. StockNews.com cut shares of Centene from a "strong-buy" rating to a "buy" rating in a research note on Monday, April 28th. Wells Fargo & Company dropped their price target on shares of Centene from $76.00 to $72.00 and set an "overweight" rating on the stock in a research note on Friday, February 14th. Finally, 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. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Centene has a consensus rating of "Moderate Buy" and a consensus price target 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.

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