Hara Capital LLC Acquires New Shares in Centene Corporation $CNC

Hara Capital LLC acquired a new position in shares of Centene Corporation (NYSE:CNC) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 113,452 shares of the company’s stock, valued at approximately $4,048,000. Centene comprises approximately 2.4% of Hara Capital LLC’s portfolio, making the stock its 10th largest holding.

A number of other hedge funds have also recently made changes to their positions in CNC. WPG Advisers LLC increased its stake in shares of Centene by 44.5% in the third quarter. WPG Advisers LLC now owns 915 shares of the company’s stock valued at $33,000 after buying an additional 282 shares during the period. Farther Finance Advisors LLC grew its holdings in Centene by 5.1% during the 2nd quarter. Farther Finance Advisors LLC now owns 6,658 shares of the company’s stock worth $361,000 after acquiring an additional 325 shares during the last quarter. Versant Capital Management Inc increased its position in Centene by 11.6% in the 3rd quarter. Versant Capital Management Inc now owns 3,421 shares of the company’s stock valued at $122,000 after acquiring an additional 355 shares during the period. Snowden Capital Advisors LLC raised its stake in shares of Centene by 8.0% during the second quarter. Snowden Capital Advisors LLC now owns 5,073 shares of the company’s stock valued at $275,000 after acquiring an additional 374 shares during the last quarter. Finally, Financial Network Wealth Advisors LLC lifted its holdings in shares of Centene by 54.9% during the third quarter. Financial Network Wealth Advisors LLC now owns 1,100 shares of the company’s stock worth $39,000 after purchasing an additional 390 shares during the period. 93.63% of the stock is owned by institutional investors and hedge funds.

Centene Price Performance

Centene stock opened at $45.33 on Friday. The stock has a market capitalization of $22.28 billion, a price-to-earnings ratio of -4.19, a PEG ratio of 1.03 and a beta of 0.48. Centene Corporation has a 52-week low of $25.08 and a 52-week high of $66.81. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.08 and a current ratio of 1.08. The stock’s 50 day moving average price is $40.96 and its two-hundred day moving average price is $34.99.

Centene (NYSE:CNC) last released its earnings results on Wednesday, October 29th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.71. The company had revenue of $49.69 billion for the quarter, compared to the consensus estimate of $47.50 billion. Centene had a negative net margin of 2.85% and a positive return on equity of 7.82%. Centene’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.62 EPS. On average, equities analysts predict that Centene Corporation will post 6.86 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Mizuho set a $47.00 target price on Centene in a research report on Friday, January 9th. Sanford C. Bernstein restated an “outperform” rating and set a $59.00 price objective on shares of Centene in a research report on Tuesday, January 6th. Oppenheimer reiterated an “outperform” rating and issued a $45.00 target price on shares of Centene in a report on Thursday, October 30th. UBS Group set a $42.00 price target on shares of Centene and gave the stock a “neutral” rating in a report on Thursday, October 30th. Finally, Robert W. Baird upped their price objective on shares of Centene from $28.00 to $36.00 and gave the company a “neutral” rating in a research note on Thursday, December 11th. Three analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $40.81.

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.