Tpg-Axon Management LP Has Increased Its Position in Centene Corp Del (CNC) by $5.20 Million as Stock Rose

June 14, 2018 - By Milton Kimbrough

Centene Corporation (NYSE:CNC) LogoInvestors sentiment decreased to 1.06 in Q1 2018. Its down 0.13, from 1.19 in 2017Q4. It is negative, as 41 investors sold CNC shares while 192 reduced holdings. 68 funds opened positions while 178 raised stakes. 149.01 million shares or 1.27% less from 150.93 million shares in 2017Q4 were reported. Monroe Bancorporation Trust Mi has 0% invested in Centene Corporation (NYSE:CNC). Ubs Asset Americas has invested 0% in Centene Corporation (NYSE:CNC). Gulf Bancorporation (Uk) accumulated 51,996 shares. Gyroscope Mgmt Gp Ltd invested in 3,632 shares or 0.18% of the stock. Mutual Of America Mngmt Limited Com reported 0.06% in Centene Corporation (NYSE:CNC). Dimensional Fund Advsrs LP owns 0.11% invested in Centene Corporation (NYSE:CNC) for 2.51M shares. Wealth Enhancement Advisory Ltd Llc stated it has 11,198 shares or 0.08% of all its holdings. Redmile Group Limited Liability Corp stated it has 559,800 shares or 2.31% of all its holdings. Bp Public Limited Company owns 20,000 shares. Southpoint Advsr Lp holds 0.71% in Centene Corporation (NYSE:CNC) or 150,000 shares. Comml Bank Of Mellon reported 0.04% in Centene Corporation (NYSE:CNC). State Of Alaska Department Of Revenue holds 0.09% in Centene Corporation (NYSE:CNC) or 38,367 shares. Weiss Multi stated it has 0.08% of its portfolio in Centene Corporation (NYSE:CNC). Globeflex Capital L P, a California-based fund reported 24,309 shares. Edgestream Prtnrs LP reported 0.23% in Centene Corporation (NYSE:CNC).

Since December 19, 2017, it had 0 insider purchases, and 10 selling transactions for $31.82 million activity. DITMORE ROBERT K had sold 8,750 shares worth $912,625 on Monday, January 8. NEIDORFF MICHAEL F also sold $27.05M worth of Centene Corporation (NYSE:CNC) on Wednesday, February 28. Shares for $541,700 were sold by Hunter Jesse N on Thursday, April 26. 4,800 shares were sold by BOWERS CHRISTOPHER D, worth $490,896. 4,165 shares valued at $425,955 were sold by BROOKS MARK J on Monday, March 12.

Tpg-Axon Management Lp increased its stake in Centene Corp Del (CNC) by 58.49% based on its latest 2018Q1 regulatory filing with the SEC. Tpg-Axon Management Lp bought 49,100 shares as the company’s stock rose 15.33% while stock markets declined. The hedge fund held 133,050 shares of the medical specialities company at the end of 2018Q1, valued at $14.22M, up from 83,950 at the end of the previous reported quarter. Tpg-Axon Management Lp who had been investing in Centene Corp Del for a number of months, seems to be bullish on the $25.58B market cap company. The stock increased 0.78% or $0.96 during the last trading session, reaching $124.67. About 2.19 million shares traded or 23.69% up from the average. Centene Corporation (NYSE:CNC) has risen 57.37% since June 14, 2017 and is uptrending. It has outperformed by 44.80% the S&P500.

Tpg-Axon Management Lp, which manages about $5.78B and $105.89M US Long portfolio, decreased its stake in Equifax Inc (NYSE:EFX) by 30,500 shares to 52,790 shares, valued at $6.22 million in 2018Q1, according to the filing.

More important recent Centene Corporation (NYSE:CNC) news were published by: Bizjournals.com which released: “Centene subsidiary re-awarded correctional contract in New Hampshire” on June 13, 2018, also Seekingalpha.com published article titled: “Molina wins Washington managed care contract”, Prnewswire.com published: “Centene And National Council On Independent Living Partner To Increase Provider Accessibility For People With …” on June 13, 2018. More interesting news about Centene Corporation (NYSE:CNC) was released by: Globenewswire.com and their article: “Analysis: Positioning to Benefit within Ally Financial, Huntsman, Synchrony Financial, Exelon, TransEnterix, and …” with publication date: June 12, 2018.

Centene Corporation (NYSE:CNC) Ratings Coverage

Among 8 analysts covering Centene Corp (NYSE:CNC), 6 have Buy rating, 0 Sell and 2 Hold. Therefore 75% are positive. Centene Corp has $135 highest and $100 lowest target. $121.33’s average target is -2.68% below currents $124.67 stock price. Centene Corp had 13 analyst reports since December 18, 2017 according to SRatingsIntel. The firm has “Buy” rating given on Tuesday, February 6 by Cantor Fitzgerald. The company was maintained on Monday, December 18 by Wells Fargo. Jefferies maintained the stock with “Buy” rating in Friday, January 12 report. Jefferies maintained it with “Buy” rating and $115.0 target in Monday, December 18 report. On Wednesday, April 25 the stock rating was maintained by Morgan Stanley with “Overweight”. The stock of Centene Corporation (NYSE:CNC) has “Market Perform” rating given on Tuesday, February 13 by Leerink Swann. Cantor Fitzgerald maintained it with “Buy” rating and $125.0 target in Thursday, March 15 report. Morgan Stanley maintained it with “Overweight” rating and $126 target in Wednesday, February 7 report. Jefferies maintained the stock with “Buy” rating in Tuesday, February 6 report. The rating was maintained by Credit Suisse with “Neutral” on Wednesday, February 7.

Centene Corporation (NYSE:CNC) Institutional Positions Chart

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