Greenland Capital Management LP Purchases Shares of 3,828 Centene Co. (NYSE:CNC)

Greenland Capital Management LP acquired a new position in shares of Centene Co. (NYSE:CNC) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 3,828 shares of the company’s stock, valued at approximately $232,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of CNC. Bank of Nova Scotia grew its stake in shares of Centene by 208.5% in the 4th quarter. Bank of Nova Scotia now owns 223,902 shares of the company’s stock worth $13,564,000 after buying an additional 151,318 shares in the last quarter. Invesco Ltd. grew its position in Centene by 21.7% in the fourth quarter. Invesco Ltd. now owns 10,555,456 shares of the company’s stock worth $639,450,000 after acquiring an additional 1,884,358 shares in the last quarter. Cerity Partners LLC increased its stake in Centene by 37.1% during the fourth quarter. Cerity Partners LLC now owns 118,726 shares of the company’s stock worth $7,474,000 after acquiring an additional 32,139 shares during the last quarter. Russell Investments Group Ltd. raised its position in Centene by 9.1% during the fourth quarter. Russell Investments Group Ltd. now owns 385,370 shares of the company’s stock valued at $23,345,000 after purchasing an additional 32,304 shares during the period. Finally, Hurley Capital LLC purchased a new position in shares of Centene in the 4th quarter worth approximately $26,000. 93.63% of the stock is owned by hedge funds and other institutional investors.

Centene Trading Up 1.7 %

NYSE CNC opened at $62.39 on Wednesday. Centene Co. has a one year low of $55.03 and a one year high of $80.59. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.10 and a current ratio of 1.11. The company has a market capitalization of $30.95 billion, a price-to-earnings ratio of 10.00, a price-to-earnings-growth ratio of 0.80 and a beta of 0.53. The company’s 50-day simple moving average is $59.55 and its two-hundred day simple moving average is $61.97.

Centene (NYSE:CNC) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.31. Centene had a net margin of 2.03% and a return on equity of 13.85%. The company had revenue of $40.81 billion for the quarter, compared to analyst estimates of $38.78 billion. During the same period last year, the company posted $0.45 earnings per share. Centene’s revenue was up 3.4% compared to the same quarter last year. Equities analysts forecast that Centene Co. will post 6.86 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on CNC shares. JPMorgan Chase & Co. restated an “overweight” rating and set a $75.00 price target (down previously from $80.00) on shares of Centene in a report on Tuesday, December 17th. Stephens dropped their price target on shares of Centene from $75.00 to $73.00 and set an “equal weight” rating for the company in a research note on Friday, December 13th. UBS Group raised shares of Centene from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $79.00 to $80.00 in a research report on Friday, December 13th. Wells Fargo & Company dropped their target price on Centene from $76.00 to $72.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. Finally, Argus lowered Centene from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.85.

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.