Fielder Capital Group LLC Makes New $392,000 Investment in Centene Corporation $CNC

Fielder Capital Group LLC purchased a new stake in Centene Corporation (NYSE:CNC) in the fourth quarter, HoldingsChannel reports. The firm purchased 9,531 shares of the company’s stock, valued at approximately $392,000.

A number of other hedge funds have also recently added to or reduced their stakes in CNC. Addison Advisors LLC raised its holdings in Centene by 455.6% in the 3rd quarter. Addison Advisors LLC now owns 739 shares of the company’s stock valued at $26,000 after acquiring an additional 606 shares in the last quarter. SBI Securities Co. Ltd. increased its position in shares of Centene by 118.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 749 shares of the company’s stock worth $31,000 after purchasing an additional 406 shares during the period. GoalVest Advisory LLC acquired a new position in Centene in the fourth quarter valued at about $37,000. Union Bancaire Privee UBP SA bought a new stake in Centene during the fourth quarter worth about $37,000. Finally, Elyxium Wealth LLC acquired a new stake in Centene during the fourth quarter worth about $41,000. Institutional investors own 93.63% of the company’s stock.

Centene Stock Down 3.4%

Shares of NYSE:CNC opened at $59.90 on Wednesday. Centene Corporation has a 52-week low of $25.08 and a 52-week high of $62.10. The company has a market capitalization of $29.58 billion, a PE ratio of -4.56, a price-to-earnings-growth ratio of 0.48 and a beta of 1.09. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.12 and a current ratio of 1.12. The company has a fifty day moving average of $45.97 and a 200-day moving average of $42.66.

Centene (NYSE:CNC) last issued its earnings results on Tuesday, April 28th. The company reported $3.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $1.14. Centene had a positive return on equity of 5.57% and a negative net margin of 3.25%.The business had revenue of $49.94 billion during the quarter, compared to analysts’ expectations of $47.53 billion. During the same quarter in the prior year, the firm earned $2.90 EPS. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, equities analysts predict that Centene Corporation will post 3.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Mizuho set a $58.00 price target on shares of Centene and gave the stock a “neutral” rating in a report on Wednesday, May 20th. Jefferies Financial Group boosted their price objective on shares of Centene from $39.00 to $48.00 and gave the company a “hold” rating in a research report on Wednesday, April 29th. Argus raised Centene to a “hold” rating in a report on Monday, February 9th. Zacks Research upgraded Centene from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 6th. Finally, TD Cowen restated a “hold” rating and set a $47.00 price objective (up from $38.00) on shares of Centene in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Centene presently has an average rating of “Hold” and a consensus target price of $58.94.

About Centene

Centene Corporation (NYSE: CNC) is a diversified, multi-national healthcare enterprise that specializes in providing services to government-sponsored and national health programs. The company primarily acts as a managed care organization, delivering healthcare coverage and administering benefits for Medicaid, the Children’s Health Insurance Program (CHIP), Medicare Advantage, and individual marketplace plans. Centene also contracts with federal and state agencies to manage specialty care programs and community-based services for vulnerable populations.

Centene’s offerings extend beyond traditional insurance to include a range of specialty and support services.