Sio Capital Management LLC Makes New Investment in Centene Co. (NYSE:CNC)

Sio Capital Management LLC acquired a new position in shares of Centene Co. (NYSE:CNC – Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 432,834 shares of the company’s stock, valued at approximately $27,359,000. Centene makes up 13.5% of Sio Capital Management LLC’s holdings, making the stock its biggest holding. Sio Capital Management LLC owned approximately 0.08% of Centene as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Jackson Hole Capital Partners LLC lifted its holdings in shares of Centene by 0.5% during the 4th quarter. Jackson Hole Capital Partners LLC now owns 27,073 shares of the company’s stock worth $2,220,000 after acquiring an additional 145 shares during the last quarter. CIBC Private Wealth Group LLC raised its position in Centene by 0.7% in the 4th quarter. CIBC Private Wealth Group LLC now owns 22,575 shares of the company’s stock worth $1,851,000 after purchasing an additional 158 shares during the period. PFG Advisors raised its position in Centene by 3.6% in the 1st quarter. PFG Advisors now owns 4,710 shares of the company’s stock worth $298,000 after purchasing an additional 165 shares during the period. Covestor Ltd raised its position in Centene by 24.1% in the 1st quarter. Covestor Ltd now owns 856 shares of the company’s stock worth $72,000 after purchasing an additional 166 shares during the period. Finally, Vicus Capital raised its position in Centene by 5.3% in the 4th quarter. Vicus Capital now owns 3,309 shares of the company’s stock worth $271,000 after purchasing an additional 168 shares during the period. Institutional investors and hedge funds own 90.92% of the company’s stock.

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Centene Price Performance

Shares of NYSE CNC opened at $65.40 on Friday. Centene Co. has a 1 year low of $60.83 and a 1 year high of $93.58. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.11 and a quick ratio of 1.11. The company’s 50-day moving average is $65.85 and its 200 day moving average is $66.27. The stock has a market capitalization of $35.41 billion, a P/E ratio of 13.48, a P/E/G ratio of 0.87 and a beta of 0.57.

Centene (NYSE:CNC – Get Free Report) last posted its quarterly earnings data on Friday, July 28th. The company reported $2.10 EPS for the quarter, topping the consensus estimate of $2.05 by $0.05. Centene had a net margin of 1.83% and a return on equity of 14.15%. The business had revenue of $37.61 billion for the quarter, compared to analyst estimates of $36.56 billion. During the same quarter in the previous year, the firm posted $1.77 earnings per share. Centene’s quarterly revenue was up 4.7% on a year-over-year basis. On average, sell-side analysts expect that Centene Co. will post 6.46 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. UBS Group assumed coverage on shares of Centene in a research report on Tuesday, June 20th. They issued a “neutral” rating and a $72.00 target price on the stock. StockNews.com upgraded shares of Centene from a “buy” rating to a “strong-buy” rating in a research report on Monday, September 4th. Mizuho decreased their price objective on shares of Centene from $80.00 to $76.00 in a research report on Tuesday, July 11th. Stephens decreased their price objective on shares of Centene from $87.00 to $85.00 in a research report on Monday, July 31st. Finally, Truist Financial decreased their price objective on shares of Centene from $88.00 to $83.00 in a research report on Tuesday, June 20th. Nine research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Centene presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.22.

Check Out Our Latest Research Report on CNC

About Centene

(Free Report)

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. It operates in two segments, Managed Care and Specialty Services. The Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term services and support, foster care, and medicare-medicaid plans, which cover dually eligible individuals, as well as aged, blind, or disabled programs.

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