Two Sigma Investments LP Buys 2,126,582 Shares of Centene Co. (NYSE:CNC)

Two Sigma Investments LP boosted its stake in Centene Co. (NYSE:CNC - Free Report) by 1,788.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,245,511 shares of the company's stock after purchasing an additional 2,126,582 shares during the quarter. Two Sigma Investments LP owned about 0.44% of Centene worth $136,033,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Tidal Investments LLC lifted its holdings in shares of Centene by 47.0% during the 4th quarter. Tidal Investments LLC now owns 61,932 shares of the company's stock worth $3,752,000 after acquiring an additional 19,815 shares during the period. True Wealth Design LLC raised its position in Centene by 198.9% during the fourth quarter. True Wealth Design LLC now owns 2,633 shares of the company's stock valued at $159,000 after purchasing an additional 1,752 shares in the last quarter. Stanley Capital Management LLC lifted its stake in Centene by 51.7% during the fourth quarter. Stanley Capital Management LLC now owns 331,912 shares of the company's stock worth $20,107,000 after purchasing an additional 113,112 shares during the last quarter. State of Wyoming boosted its holdings in shares of Centene by 132.3% in the 4th quarter. State of Wyoming now owns 6,707 shares of the company's stock valued at $406,000 after purchasing an additional 3,820 shares in the last quarter. Finally, Toronto Dominion Bank increased its stake in shares of Centene by 4.5% in the 4th quarter. Toronto Dominion Bank now owns 273,367 shares of the company's stock valued at $16,561,000 after purchasing an additional 11,657 shares during the last quarter. Institutional investors own 93.63% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CNC. Guggenheim restated a "neutral" rating on shares of Centene in a research report on Tuesday, April 29th. Wells Fargo & Company decreased their price target on shares of Centene from $76.00 to $72.00 and set an "overweight" rating on the stock in a report on Friday, February 14th. StockNews.com downgraded shares of Centene from a "strong-buy" rating to a "buy" rating in a research note on Monday, April 28th. Robert W. Baird decreased their target price on shares of Centene from $71.00 to $69.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Finally, Barclays dropped their price target on Centene from $93.00 to $84.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $79.77.

Centene Stock Up 2.9%

Shares of NYSE:CNC opened at $61.78 on Monday. The business has a fifty day simple moving average of $60.66 and a 200 day simple moving average of $60.44. Centene Co. has a 12-month low of $55.03 and a 12-month high of $80.59. The firm has a market cap of $30.74 billion, a P/E ratio of 9.90, a P/E/G ratio of 0.80 and a beta of 0.48. The company has a quick ratio of 1.10, a current ratio of 1.11 and a debt-to-equity ratio of 0.70.

Centene (NYSE:CNC - Get Free Report) last announced its earnings results on Friday, April 25th. The company reported $2.90 EPS for the quarter, beating 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 analysts' expectations of $43.16 billion. During the same period in the prior year, the business posted $2.26 earnings per share. The firm's revenue was up 15.4% on a year-over-year basis. Analysts predict that Centene Co. will post 6.86 earnings per share for the current year.

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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