Tavio Capital LLC Boosts Stock Position in Centene Corp (NYSE:CNC)

Tavio Capital LLC grew its stake in Centene Corp (NYSE:CNC) by 18.5% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 648,822 shares of the company’s stock after purchasing an additional 101,247 shares during the quarter. Centene makes up about 13.8% of Tavio Capital LLC’s holdings, making the stock its 2nd largest position. Tavio Capital LLC owned approximately 0.16% of Centene worth $34,024,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in Centene by 101.6% during the first quarter. BlackRock Inc. now owns 36,536,247 shares of the company’s stock worth $1,940,075,000 after acquiring an additional 18,409,531 shares during the period. Northern Trust Corp lifted its holdings in Centene by 103.3% during the first quarter. Northern Trust Corp now owns 4,704,989 shares of the company’s stock worth $249,834,000 after acquiring an additional 2,390,842 shares during the period. FMR LLC lifted its holdings in Centene by 89.6% during the first quarter. FMR LLC now owns 4,677,540 shares of the company’s stock worth $248,377,000 after acquiring an additional 2,209,884 shares during the period. Wells Fargo & Company MN lifted its holdings in Centene by 72.8% during the first quarter. Wells Fargo & Company MN now owns 4,130,361 shares of the company’s stock worth $219,322,000 after acquiring an additional 1,740,267 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Centene by 6.5% during the fourth quarter. Geode Capital Management LLC now owns 2,883,859 shares of the company’s stock worth $331,969,000 after acquiring an additional 176,124 shares during the period. Institutional investors own 97.76% of the company’s stock.

A number of brokerages recently commented on CNC. Zacks Investment Research lowered Centene from a “buy” rating to a “hold” rating and set a $49.00 price target on the stock. in a report on Monday, September 2nd. ValuEngine lowered Centene from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 2nd. Deutsche Bank began coverage on Centene in a report on Thursday. They set a “buy” rating and a $62.00 price target on the stock. Finally, Morgan Stanley dropped their price target on Centene from $71.00 to $64.00 and set an “overweight” rating on the stock in a report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $73.10.

In other news, Director Jessica L. Blume bought 2,850 shares of the stock in a transaction on Friday, July 26th. The shares were purchased at an average cost of $52.99 per share, for a total transaction of $151,021.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.50% of the company’s stock.

Shares of CNC traded up $0.73 during mid-day trading on Friday, hitting $45.62. The stock had a trading volume of 4,158,056 shares, compared to its average volume of 4,019,593. The firm has a market cap of $19.57 billion, a P/E ratio of 12.89, a PEG ratio of 0.75 and a beta of 0.85. The business has a fifty day moving average price of $48.36 and a 200-day moving average price of $53.23. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.07 and a quick ratio of 1.07. Centene Corp has a 52 week low of $44.50 and a 52 week high of $74.49.

Centene (NYSE:CNC) last issued its earnings results on Tuesday, July 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.10. The firm had revenue of $18.36 billion for the quarter, compared to analyst estimates of $18.02 billion. Centene had a return on equity of 15.87% and a net margin of 1.84%. The business’s revenue was up 29.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.90 earnings per share. As a group, research analysts expect that Centene Corp will post 4.42 earnings per share for the current fiscal year.

About Centene

Centene Corporation operates as a diversified and multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. The company's 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 covers dually eligible individuals, as well as aged, blind, or disabled programs.

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Institutional Ownership by Quarter for Centene (NYSE:CNC)

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