Redwood Investment Management LLC Has $259,000 Stock Holdings in Centene Co. (NYSE:CNC)

Redwood Investment Management LLC lowered its stake in Centene Co. (NYSE:CNC - Free Report) by 93.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,273 shares of the company's stock after selling 59,571 shares during the period. Redwood Investment Management LLC's holdings in Centene were worth $259,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Capital Advisors Ltd. LLC boosted its stake in Centene by 75.3% in the fourth quarter. Capital Advisors Ltd. LLC now owns 412 shares of the company's stock valued at $25,000 after acquiring an additional 177 shares during the last quarter. Hurley Capital LLC bought a new position in Centene in the fourth quarter valued at approximately $26,000. Rialto Wealth Management LLC bought a new position in Centene in the fourth quarter valued at approximately $30,000. OFI Invest Asset Management bought a new position in Centene in the fourth quarter valued at approximately $33,000. Finally, SRS Capital Advisors Inc. boosted its position in shares of Centene by 73.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 631 shares of the company's stock worth $38,000 after purchasing an additional 267 shares in the last quarter. Institutional investors and hedge funds own 93.63% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CNC shares. Argus cut shares of Centene from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. StockNews.com cut shares of Centene from a "strong-buy" rating to a "buy" rating in a research report on Monday, April 28th. Robert W. Baird reduced their price target on shares of Centene from $71.00 to $69.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Barclays reduced their price target on shares of Centene from $93.00 to $84.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. Finally, Jefferies Financial Group cut their price objective on shares of Centene from $64.00 to $61.00 and set a "hold" rating on the stock in a research report on Tuesday, April 29th. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $79.77.

Centene Stock Up 0.6%

CNC stock traded up $0.34 during midday trading on Tuesday, hitting $61.89. The company's stock had a trading volume of 3,249,457 shares, compared to its average volume of 4,872,973. 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 Co. has a twelve month low of $55.03 and a twelve month high of $80.59. The company's fifty day moving average price is $60.72 and its 200 day moving average price is $60.43. The stock has a market capitalization of $30.80 billion, a P/E ratio of 9.92, a PEG ratio of 0.80 and a beta of 0.48.

Centene (NYSE:CNC - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The company reported $2.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.38. Centene had a net margin of 2.03% and a return on equity of 13.85%. The firm had revenue of $46.62 billion for the quarter, compared to analyst estimates of $43.16 billion. During the same period in the previous year, the business earned $2.26 EPS. The company's revenue was up 15.4% compared to the same quarter last year. As a group, equities research analysts predict that Centene Co. will post 6.86 EPS for the current 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.