Centene (NYSE:CNC) Trading Up 3.7% After Analyst Upgrade

Centene Co. (NYSE:CNC)’s stock price traded up 3.7% during trading on Friday after Barclays raised their price target on the stock from $91.00 to $93.00. Barclays currently has an overweight rating on the stock. Centene traded as high as $60.32 and last traded at $60.12. 2,088,749 shares changed hands during trading, a decline of 49% from the average session volume of 4,078,045 shares. The stock had previously closed at $58.00.

Other research analysts have also issued reports about the company. Wells Fargo & Company dropped their price target on Centene from $91.00 to $90.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Jefferies Financial Group cut shares of Centene from a “hold” rating to an “underperform” rating and cut their target price for the company from $68.00 to $52.00 in a research note on Tuesday. UBS Group raised shares of Centene from a “neutral” rating to a “buy” rating and increased their price target for the stock from $79.00 to $80.00 in a research report on Friday. Robert W. Baird cut their price objective on Centene from $83.00 to $66.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Finally, Oppenheimer dropped their price target on Centene from $95.00 to $85.00 and set an “outperform” rating for the company in a report on Friday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $81.31.

Insiders Place Their Bets

In other news, CFO Andrew Lynn Asher bought 17,200 shares of the stock in a transaction on Wednesday, November 13th. The stock was purchased at an average price of $58.14 per share, for a total transaction of $1,000,008.00. Following the acquisition, the chief financial officer now owns 486,847 shares in the company, valued at approximately $28,305,284.58. This trade represents a 3.66 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Sarah London purchased 4,117 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was purchased at an average price of $60.80 per share, for a total transaction of $250,313.60. Following the completion of the acquisition, the chief executive officer now owns 667,229 shares of the company’s stock, valued at approximately $40,567,523.20. This represents a 0.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Centene

Institutional investors have recently added to or reduced their stakes in the company. Park Place Capital Corp grew its stake in shares of Centene by 1,190.0% in the third quarter. Park Place Capital Corp now owns 387 shares of the company’s stock valued at $29,000 after acquiring an additional 357 shares in the last quarter. WR Wealth Planners LLC boosted its stake in shares of Centene by 41.4% in the 2nd quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock valued at $31,000 after purchasing an additional 137 shares in the last quarter. Chris Bulman Inc acquired a new stake in shares of Centene in the 2nd quarter valued at approximately $33,000. Crewe Advisors LLC boosted its stake in shares of Centene by 174.3% in the 2nd quarter. Crewe Advisors LLC now owns 683 shares of the company’s stock valued at $45,000 after purchasing an additional 434 shares in the last quarter. Finally, Private Trust Co. NA boosted its stake in shares of Centene by 75.3% in the 3rd quarter. Private Trust Co. NA now owns 773 shares of the company’s stock valued at $58,000 after purchasing an additional 332 shares in the last quarter. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Centene Trading Up 3.7 %

The business’s 50 day moving average price is $62.28 and its two-hundred day moving average price is $68.73. The company has a market capitalization of $30.37 billion, a price-to-earnings ratio of 10.38, a P/E/G ratio of 0.78 and a beta of 0.46. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.64.

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.