8 Knots Management LLC Takes Position in Centene Corporation $CNC

8 Knots Management LLC bought a new position in shares of Centene Corporation (NYSE:CNC) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 5,231,550 shares of the company’s stock, valued at approximately $186,662,000. Centene accounts for about 21.1% of 8 Knots Management LLC’s portfolio, making the stock its biggest holding. 8 Knots Management LLC owned about 1.06% of Centene at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Addison Advisors LLC increased its holdings in shares of Centene by 455.6% during the 3rd quarter. Addison Advisors LLC now owns 739 shares of the company’s stock worth $26,000 after purchasing an additional 606 shares during the period. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Centene in the third quarter valued at about $27,000. WPG Advisers LLC grew its position in Centene by 44.5% during the third quarter. WPG Advisers LLC now owns 915 shares of the company’s stock worth $33,000 after buying an additional 282 shares in the last quarter. Bogart Wealth LLC increased its stake in Centene by 11,011.1% during the third quarter. Bogart Wealth LLC now owns 1,000 shares of the company’s stock valued at $36,000 after acquiring an additional 991 shares during the period. Finally, Ameriflex Group Inc. raised its holdings in Centene by 152.5% in the 3rd quarter. Ameriflex Group Inc. now owns 1,010 shares of the company’s stock valued at $36,000 after acquiring an additional 610 shares in the last quarter. 93.63% of the stock is owned by institutional investors.

Centene Stock Performance

Shares of NYSE:CNC opened at $34.47 on Friday. The stock has a market capitalization of $16.95 billion, a price-to-earnings ratio of -2.53, a price-to-earnings-growth ratio of 0.76 and a beta of 0.48. The business’s fifty day moving average price is $42.81 and its two-hundred day moving average price is $38.39. Centene Corporation has a fifty-two week low of $25.08 and a fifty-two week high of $66.03. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.10 and a quick ratio of 1.10.

Centene (NYSE:CNC) last issued its earnings results on Friday, February 6th. The company reported ($1.19) EPS for the quarter, beating the consensus estimate of ($1.22) by $0.03. The company had revenue of $49.73 billion for the quarter, compared to the consensus estimate of $48.41 billion. Centene had a negative net margin of 3.43% and a positive return on equity of 4.25%. The firm’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.80 EPS. Centene has set its FY 2026 guidance at 3.000-3.000 EPS. As a group, analysts predict that Centene Corporation will post 6.86 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on CNC shares. JPMorgan Chase & Co. lifted their price objective on Centene from $38.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, January 22nd. Morgan Stanley raised their target price on Centene from $38.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 4th. Weiss Ratings reiterated a “sell (d)” rating on shares of Centene in a research note on Wednesday, January 21st. Cantor Fitzgerald restated a “neutral” rating and issued a $41.00 price objective on shares of Centene in a research note on Monday, February 9th. Finally, Wells Fargo & Company set a $44.00 price objective on shares of Centene and gave the stock an “equal weight” rating in a report on Wednesday, February 18th. Three research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $42.06.

About Centene

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.