Inceptionr LLC Acquires 17,937 Shares of Centene Co. (NYSE:CNC)

Inceptionr LLC lifted its position in Centene Co. (NYSE:CNC) by 156.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 29,410 shares of the company’s stock after purchasing an additional 17,937 shares during the period. Inceptionr LLC’s holdings in Centene were worth $1,782,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Harris Associates L P grew its holdings in shares of Centene by 5.7% in the third quarter. Harris Associates L P now owns 26,314,183 shares of the company’s stock worth $1,980,932,000 after purchasing an additional 1,420,825 shares during the last quarter. State Street Corp grew its holdings in shares of Centene by 0.5% in the third quarter. State Street Corp now owns 23,468,159 shares of the company’s stock worth $1,766,683,000 after purchasing an additional 111,654 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Centene by 3.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,768,534 shares of the company’s stock worth $434,255,000 after purchasing an additional 194,566 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Centene by 3.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,803,437 shares of the company’s stock worth $230,412,000 after purchasing an additional 130,895 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its holdings in shares of Centene by 15.4% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 3,203,049 shares of the company’s stock worth $241,126,000 after purchasing an additional 428,100 shares during the last quarter. Institutional investors own 93.63% of the company’s stock.

Insider Buying and Selling

In related news, Director Theodore R. Samuels II bought 5,000 shares of the stock in a transaction on Friday, December 13th. The shares were acquired at an average price of $58.86 per share, for a total transaction of $294,300.00. Following the purchase, the director now owns 23,000 shares of the company’s stock, valued at approximately $1,353,780. The trade was a 27.78 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas Greco bought 17,000 shares of the stock in a transaction on Wednesday, December 18th. The shares were bought at an average price of $59.75 per share, for a total transaction of $1,015,750.00. Following the purchase, the director now directly owns 19,309 shares in the company, valued at approximately $1,153,712.75. This trade represents a 736.25 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 23,693 shares of company stock worth $1,409,954 in the last quarter. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $75.00 price target (down previously from $80.00) on shares of Centene in a report on Tuesday, December 17th. Wells Fargo & Company cut their price target on shares of Centene from $76.00 to $72.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Stephens cut their price target on shares of Centene from $75.00 to $73.00 and set an “equal weight” rating on the stock in a report on Friday, December 13th. Robert W. Baird lifted their price target on shares of Centene from $66.00 to $71.00 in a report on Tuesday, February 4th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $90.00 price target on shares of Centene in a report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $79.92.

Centene Stock Performance

Shares of Centene stock opened at $59.09 on Thursday. The stock has a market cap of $29.31 billion, a price-to-earnings ratio of 9.47, a PEG ratio of 0.80 and a beta of 0.45. The firm’s 50-day moving average is $60.86 and its 200 day moving average is $64.78. Centene Co. has a 1 year low of $55.03 and a 1 year high of $80.59. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.11 and a quick ratio of 1.10.

Centene (NYSE:CNC) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.31. The company had revenue of $40.81 billion for the quarter, compared to analysts’ expectations of $38.78 billion. Centene had a net margin of 2.03% and a return on equity of 13.85%. Centene’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.45 EPS. Sell-side analysts anticipate that Centene Co. will post 6.86 EPS for the current fiscal year.

About Centene

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. The company operates through Medicaid, Medicare, Commercial, and Other segments. The Medicaid segment offers health plan coverage, including medicaid expansion, aged, blind, disabled, children’s health insurance program, foster care, medicare-medicaid plans, long-term services and support.