Centene’s (CNC) “Overweight” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Centene (NYSE:CNC) in a research report released on Wednesday morning,Benzinga reports. Cantor Fitzgerald currently has a $90.00 price objective on the stock.

CNC has been the topic of a number of other research reports. Wells Fargo & Company cut their target price on Centene from $91.00 to $90.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. StockNews.com downgraded shares of Centene from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 28th. Jefferies Financial Group downgraded shares of Centene from a “hold” rating to an “underperform” rating and dropped their target price for the stock from $68.00 to $52.00 in a research note on Tuesday. Robert W. Baird lowered their price target on Centene from $83.00 to $66.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Finally, Barclays cut their price target on Centene from $97.00 to $91.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Centene currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.31.

Centene Trading Up 2.4 %

CNC stock opened at $59.41 on Wednesday. Centene has a twelve month low of $55.03 and a twelve month high of $81.42. The stock has a market capitalization of $29.99 billion, a price-to-earnings ratio of 10.31, a price-to-earnings-growth ratio of 0.78 and a beta of 0.46. 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 firm’s fifty day simple moving average is $62.28 and its two-hundred day simple moving average is $68.73.

Insider Transactions at Centene

In related news, CEO Sarah London bought 4,117 shares of the company’s stock in a transaction on Friday, November 8th. The shares were bought at an average price of $60.80 per share, with a total value of $250,313.60. Following the transaction, the chief executive officer now owns 667,229 shares in the company, valued at approximately $40,567,523.20. This trade represents a 0.62 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Andrew Lynn Asher acquired 17,200 shares of the stock in a transaction dated Wednesday, November 13th. The shares were bought at an average price of $58.14 per share, with a total value of $1,000,008.00. Following the completion of the purchase, the chief financial officer now directly owns 486,847 shares of the company’s stock, 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. Insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Centene

Institutional investors and hedge funds have recently modified their holdings of the company. Park Place Capital Corp lifted its stake in Centene by 1,190.0% during the 3rd quarter. Park Place Capital Corp now owns 387 shares of the company’s stock valued at $29,000 after acquiring an additional 357 shares during the period. WR Wealth Planners LLC boosted its holdings in Centene by 41.4% in the second quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock valued at $31,000 after purchasing an additional 137 shares during the last quarter. Chris Bulman Inc purchased a new position in shares of Centene during the 2nd quarter valued at about $33,000. Crewe Advisors LLC lifted its holdings 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 buying an additional 434 shares during the period. Finally, Private Trust Co. NA boosted its stake in shares of Centene by 75.3% in the third quarter. Private Trust Co. NA now owns 773 shares of the company’s stock worth $58,000 after buying an additional 332 shares during the last quarter. Institutional investors and hedge funds own 93.63% of the company’s stock.

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.