Cinctive Capital Management LP Acquires 241,057 Shares of Centene Corporation $CNC

Cinctive Capital Management LP raised its holdings in Centene Corporation (NYSE:CNC) by 4,732.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 246,151 shares of the company’s stock after acquiring an additional 241,057 shares during the period. Cinctive Capital Management LP owned about 0.05% of Centene worth $8,783,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of CNC. Norges Bank acquired a new position in shares of Centene in the 2nd quarter valued at approximately $1,435,997,000. AQR Capital Management LLC raised its holdings in Centene by 76.6% during the 3rd quarter. AQR Capital Management LLC now owns 14,654,834 shares of the company’s stock worth $522,885,000 after buying an additional 6,356,152 shares during the period. Deerfield Management Company L.P. lifted its stake in Centene by 184.0% in the third quarter. Deerfield Management Company L.P. now owns 9,046,000 shares of the company’s stock valued at $322,761,000 after buying an additional 5,860,630 shares in the last quarter. 8 Knots Management LLC acquired a new position in shares of Centene in the third quarter valued at approximately $186,662,000. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Centene by 32.0% during the third quarter. Arrowstreet Capital Limited Partnership now owns 8,716,056 shares of the company’s stock worth $310,989,000 after acquiring an additional 2,111,674 shares in the last quarter. Institutional investors and hedge funds own 93.63% of the company’s stock.

Centene Stock Performance

Shares of CNC opened at $34.47 on Friday. The company has a market cap of $16.95 billion, a PE ratio of -2.53, a price-to-earnings-growth ratio of 0.76 and a beta of 0.48. The firm has a 50-day moving average of $42.81 and a 200-day moving average of $38.39. Centene Corporation has a one year low of $25.08 and a one year high of $66.03. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.10 and a quick ratio of 1.10.

Centene (NYSE:CNC) last issued its earnings results on Friday, February 6th. The company reported ($1.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.03. Centene had a negative net margin of 3.43% and a positive return on equity of 4.25%. The company had revenue of $49.73 billion for the quarter, compared to analysts’ expectations of $48.41 billion. During the same period in the prior year, the firm earned $0.80 EPS. Centene’s quarterly revenue was up 21.9% compared to the same quarter last year. Centene has set its FY 2026 guidance at 3.000-3.000 EPS. As a group, equities analysts forecast that Centene Corporation will post 6.86 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on CNC shares. Mizuho set a $41.00 target price on Centene and gave the stock a “neutral” rating in a report on Tuesday. Morgan Stanley boosted their price target on Centene from $38.00 to $45.00 and gave the company an “equal weight” rating in a report on Wednesday, March 4th. Deutsche Bank Aktiengesellschaft increased their price objective on Centene from $32.00 to $39.00 and gave the stock a “hold” rating in a report on Tuesday, February 10th. TD Cowen boosted their target price on Centene from $34.00 to $38.00 and gave the company a “hold” rating in a research note on Wednesday, February 11th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Centene in a research report on Wednesday, January 21st. Three investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $42.06.

Centene Company Profile

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.