8 Knots Management LLC Increases Position in Centene Co. (NYSE:CNC)

8 Knots Management LLC raised its holdings in Centene Co. (NYSE:CNC - Free Report) by 18.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,000,256 shares of the company's stock after buying an additional 313,447 shares during the period. Centene accounts for about 12.1% of 8 Knots Management LLC's portfolio, making the stock its 3rd largest holding. 8 Knots Management LLC owned about 0.40% of Centene worth $121,176,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. AQR Capital Management LLC grew its stake in shares of Centene by 42.8% in the fourth quarter. AQR Capital Management LLC now owns 7,742,698 shares of the company's stock valued at $469,053,000 after buying an additional 2,319,952 shares in the last quarter. Northern Trust Corp grew its position in shares of Centene by 9.1% in the 4th quarter. Northern Trust Corp now owns 5,294,816 shares of the company's stock valued at $320,760,000 after acquiring an additional 443,121 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Centene by 7.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 400,384 shares of the company's stock valued at $24,255,000 after purchasing an additional 28,873 shares during the period. Earnest Partners LLC lifted its stake in Centene by 53.5% in the 4th quarter. Earnest Partners LLC now owns 2,984,500 shares of the company's stock valued at $180,801,000 after purchasing an additional 1,040,780 shares during the last quarter. Finally, Berger Financial Group Inc increased its position in Centene by 1.9% during the fourth quarter. Berger Financial Group Inc now owns 66,470 shares of the company's stock worth $4,027,000 after buying an additional 1,252 shares during the last quarter. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Centene Stock Up 3.2 %

CNC stock opened at $59.51 on Tuesday. The company has a market cap of $29.52 billion, a PE ratio of 9.54, a price-to-earnings-growth ratio of 0.80 and a beta of 0.53. The company has a quick ratio of 1.10, a current ratio of 1.11 and a debt-to-equity ratio of 0.70. Centene Co. has a 52 week low of $55.03 and a 52 week high of $80.59. The business has a 50-day simple moving average of $60.13 and a 200 day simple moving average of $60.72.

Centene (NYSE:CNC - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The company reported $2.90 earnings per share for the quarter, topping analysts' consensus estimates of $2.52 by $0.38. Centene had a net margin of 2.03% and a return on equity of 13.85%. The company had revenue of $46.62 billion during the quarter, compared to the consensus estimate of $43.16 billion. During the same quarter in the prior year, the firm posted $2.26 EPS. The firm's quarterly revenue was up 15.4% on a year-over-year basis. Sell-side analysts anticipate that Centene Co. will post 6.86 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on the company. StockNews.com downgraded Centene from a "strong-buy" rating to a "buy" rating in a research note on Monday. Argus downgraded shares of Centene from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Jefferies Financial Group upgraded shares of Centene from an "underperform" rating to a "hold" rating and raised their target price for the stock from $53.00 to $64.00 in a research note on Tuesday, April 8th. Robert W. Baird lowered their price target on shares of Centene from $71.00 to $69.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Finally, Barclays reduced their price objective on Centene from $93.00 to $84.00 and set an "overweight" rating for the company in a report on Monday. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, Centene presently has a consensus rating of "Moderate Buy" and an average price target of $80.00.

Centene Profile

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.

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