Centene (NYSE:CNC) Sets New 52-Week Low – Should You Sell?

Centene Co. (NYSE:CNC)’s share price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $59.47 and last traded at $59.59, with a volume of 1118631 shares traded. The stock had previously closed at $60.75.

Analysts Set New Price Targets

CNC has been the subject of several research reports. StockNews.com downgraded shares of Centene from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 28th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Centene from $82.00 to $87.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. Truist Financial cut their target price on Centene from $92.00 to $89.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Barclays dropped their price objective on Centene from $97.00 to $91.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Finally, Sanford C. Bernstein decreased their price objective on Centene from $96.00 to $88.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $83.92.

Centene Stock Down 3.5 %

The firm has a market capitalization of $29.58 billion, a price-to-earnings ratio of 10.55, a P/E/G ratio of 0.82 and a beta of 0.49. The stock has a 50 day moving average of $69.34 and a 200 day moving average of $71.41. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.64.

Insiders Place Their Bets

In other Centene news, CEO Sarah London acquired 4,117 shares of Centene stock in a transaction that occurred on Friday, November 8th. The stock was acquired at an average price of $60.80 per share, with a total value of $250,313.60. Following the purchase, the chief executive officer now owns 667,229 shares in the company, valued at approximately $40,567,523.20. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.33% of the stock is currently owned by company insiders.

Institutional Trading of Centene

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. EP Wealth Advisors LLC grew its stake in Centene by 1.0% during the first quarter. EP Wealth Advisors LLC now owns 13,604 shares of the company’s stock worth $1,068,000 after buying an additional 133 shares during the last quarter. WR Wealth Planners LLC lifted its position in shares of Centene by 41.4% during the second quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock worth $31,000 after purchasing an additional 137 shares in the last quarter. Whittier Trust Co. lifted its holdings in Centene by 10.0% in the second quarter. Whittier Trust Co. now owns 1,562 shares of the company’s stock valued at $104,000 after buying an additional 142 shares during the period. Mount Yale Investment Advisors LLC lifted its holdings in Centene by 2.1% in the third quarter. Mount Yale Investment Advisors LLC now owns 8,082 shares of the company’s stock valued at $608,000 after buying an additional 167 shares during the period. Finally, Bleakley Financial Group LLC raised its holdings in Centene by 2.4% in the first quarter. Bleakley Financial Group LLC now owns 7,287 shares of the company’s stock worth $572,000 after purchasing an additional 173 shares during the period. Institutional investors own 93.63% of the company’s stock.

Centene Company 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.