Fieldview Capital Management LLC Invests $1.03 Million in Centene Corporation $CNC

Fieldview Capital Management LLC bought a new position in shares of Centene Corporation (NYSE:CNC) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 24,996 shares of the company’s stock, valued at approximately $1,029,000.

A number of other institutional investors also recently modified their holdings of CNC. Baird Financial Group Inc. purchased a new stake in shares of Centene during the first quarter worth about $236,000. Sivia Capital Partners LLC boosted its holdings in shares of Centene by 80.0% during the second quarter. Sivia Capital Partners LLC now owns 9,710 shares of the company’s stock worth $527,000 after purchasing an additional 4,315 shares during the period. CW Advisors LLC boosted its holdings in shares of Centene by 20.3% during the second quarter. CW Advisors LLC now owns 4,863 shares of the company’s stock worth $264,000 after purchasing an additional 820 shares during the period. NewEdge Advisors LLC raised its stake in Centene by 6.1% in the second quarter. NewEdge Advisors LLC now owns 44,945 shares of the company’s stock worth $2,440,000 after buying an additional 2,582 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its stake in Centene by 0.4% in the second quarter. Treasurer of the State of North Carolina now owns 231,938 shares of the company’s stock worth $12,590,000 after buying an additional 967 shares in the last quarter. 93.63% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CNC has been the subject of a number of research reports. Robert W. Baird increased their price target on shares of Centene from $36.00 to $37.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 15th. Oppenheimer increased their price target on shares of Centene from $58.00 to $67.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. UBS Group reissued a “neutral” rating and issued a $61.00 price target (up from $55.00) on shares of Centene in a research note on Friday, May 22nd. Deutsche Bank Aktiengesellschaft raised shares of Centene from a “hold” rating to a “buy” rating and increased their price target for the stock from $53.00 to $80.00 in a research note on Wednesday, May 20th. Finally, Morgan Stanley increased their price target on shares of Centene from $50.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $60.24.

Centene Price Performance

Shares of CNC opened at $65.18 on Monday. The company has a market capitalization of $32.18 billion, a P/E ratio of -4.96, a price-to-earnings-growth ratio of 0.51 and a beta of 1.09. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.76. The firm has a 50 day moving average of $51.43 and a 200 day moving average of $44.36. Centene Corporation has a twelve month low of $25.08 and a twelve month high of $66.55.

Centene (NYSE:CNC) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $3.37 earnings per share for the quarter, beating the consensus estimate of $2.23 by $1.14. The company had revenue of $49.94 billion during the quarter, compared to the consensus estimate of $47.53 billion. Centene had a negative net margin of 3.25% and a positive return on equity of 5.57%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.90 earnings per share. As a group, equities research analysts anticipate that Centene Corporation will post 3.45 earnings per share for the current fiscal year.

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.