Centene (NYSE:CNC) Stock Rating Upgraded by UBS Group

Centene (NYSE:CNC) was upgraded by equities researchers at UBS Group from a “neutral” rating to a “buy” rating in a note issued to investors on Friday, Marketbeat reports. The firm presently has a $80.00 price objective on the stock, up from their previous price objective of $79.00. UBS Group’s price target suggests a potential upside of 34.63% from the company’s current price.

Several other research firms also recently issued reports on CNC. 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 note on Monday, November 4th. StockNews.com cut Centene from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 28th. Barclays decreased their price target on shares of Centene from $97.00 to $91.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Jefferies Financial Group cut shares of Centene from a “hold” rating to an “underperform” rating and reduced their target price for the stock from $68.00 to $52.00 in a report on Tuesday, December 10th. Finally, Robert W. Baird lowered their price target on shares of Centene from $83.00 to $66.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $81.31.

Centene Stock Up 2.4 %

Shares of CNC stock opened at $59.42 on Friday. Centene has a 12-month low of $55.03 and a 12-month high of $81.42. 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 has a fifty day moving average of $62.02 and a 200-day moving average of $68.59. The company has a market capitalization of $30.00 billion, a price-to-earnings ratio of 10.32, a P/E/G ratio of 0.78 and a beta of 0.46.

Insider Activity

In related news, CFO Andrew Lynn Asher acquired 17,200 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $28,305,284.58. The trade was a 3.66 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sarah London acquired 4,117 shares of the stock in a transaction on Friday, November 8th. The shares were purchased at an average price of $60.80 per share, for a total transaction of $250,313.60. Following the transaction, the chief executive officer now directly 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 disclosure for this purchase can be found here. Insiders own 0.33% of the company’s stock.

Institutional Trading of Centene

Several large investors have recently modified their holdings of the stock. Blue Trust Inc. raised its position in Centene by 47.9% during the second quarter. Blue Trust Inc. now owns 4,716 shares of the company’s stock valued at $313,000 after purchasing an additional 1,527 shares in the last quarter. Grove Bank & Trust grew its holdings in Centene by 17.9% during the 2nd quarter. Grove Bank & Trust now owns 8,602 shares of the company’s stock worth $570,000 after acquiring an additional 1,307 shares during the last quarter. Independence Bank of Kentucky increased its position in Centene by 459.2% in the 2nd quarter. Independence Bank of Kentucky now owns 1,096 shares of the company’s stock valued at $73,000 after acquiring an additional 900 shares during the period. Cypress Capital Group lifted its holdings in shares of Centene by 192.8% during the second quarter. Cypress Capital Group now owns 13,610 shares of the company’s stock worth $902,000 after purchasing an additional 8,962 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Centene by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 5,491,968 shares of the company’s stock worth $364,117,000 after purchasing an additional 25,595 shares during the last quarter. 93.63% of the stock is owned by institutional investors and hedge funds.

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.