Centene Co. (NYSE:CNC) Receives Average Rating of “Moderate Buy” from Analysts

Centene Co. (NYSE:CNC) has earned a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are covering the firm, MarketBeat.com reports. Seven research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $83.92.

A number of equities research analysts have commented on CNC shares. StockNews.com downgraded Centene from a “strong-buy” rating to a “buy” rating in a report on Monday, October 28th. Barclays lowered their target price on Centene from $97.00 to $91.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft lifted their price target on Centene from $82.00 to $87.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Oppenheimer dropped their target price on shares of Centene from $110.00 to $95.00 and set an “outperform” rating for the company in a report on Monday, July 29th. Finally, Wells Fargo & Company reduced their price target on shares of Centene from $91.00 to $90.00 and set an “overweight” rating on the stock in a report on Monday, November 4th.

Centene Price Performance

Shares of NYSE:CNC opened at $60.37 on Tuesday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.64. The company has a 50-day moving average price of $66.68 and a 200 day moving average price of $70.46. Centene has a 52 week low of $57.20 and a 52 week high of $81.42. The company has a market cap of $30.48 billion, a P/E ratio of 10.48, a PEG ratio of 0.83 and a beta of 0.49.

Insider Buying and Selling at Centene

In related news, CEO Sarah London acquired 4,117 shares of the stock in a transaction dated Friday, November 8th. The stock was bought at an average cost of $60.80 per share, with a total value of $250,313.60. Following the purchase, the chief executive officer now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Andrew Lynn Asher bought 17,200 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was purchased at an average cost of $58.14 per share, for a total transaction of $1,000,008.00. Following the completion of the transaction, the chief financial officer now directly owns 486,847 shares in the company, valued at approximately $28,305,284.58. This trade represents a 3.66 % increase in their position. The disclosure for this purchase can be found here. 0.33% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. EP Wealth Advisors LLC raised 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 acquiring an additional 133 shares during the period. WR Wealth Planners LLC raised its position in shares of Centene by 41.4% during the 2nd quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock worth $31,000 after purchasing an additional 137 shares during the period. Whittier Trust Co. boosted its position in Centene by 10.0% during the 2nd quarter. Whittier Trust Co. now owns 1,562 shares of the company’s stock valued at $104,000 after purchasing an additional 142 shares during the period. Mount Yale Investment Advisors LLC grew its stake in Centene by 2.1% during the 3rd quarter. Mount Yale Investment Advisors LLC now owns 8,082 shares of the company’s stock worth $608,000 after buying an additional 167 shares during the last quarter. Finally, Meridian Management Co. increased its position in Centene by 0.3% in the second quarter. Meridian Management Co. now owns 64,721 shares of the company’s stock worth $4,291,000 after buying an additional 189 shares during the period. Hedge funds and other 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.