Oppenheimer Issues Pessimistic Forecast for Centene (NYSE:CNC) Stock Price

Centene (NYSE:CNC) had its target price reduced by analysts at Oppenheimer from $95.00 to $85.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s target price suggests a potential upside of 43.05% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. Barclays lowered their price target on shares of Centene from $97.00 to $91.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Robert W. Baird dropped their target price on shares of Centene from $83.00 to $66.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Jefferies Financial Group lowered Centene from a “hold” rating to an “underperform” rating and decreased their price target for the stock from $68.00 to $52.00 in a research note on Tuesday, December 10th. Sanford C. Bernstein reduced 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. Finally, Wells Fargo & Company lowered their target price on Centene from $91.00 to $90.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. One 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. According to MarketBeat, Centene has an average rating of “Moderate Buy” and an average target price of $81.31.

Centene Stock Up 2.4 %

Centene stock opened at $59.42 on Friday. The stock’s 50 day moving average price is $62.02 and its 200 day moving average price is $68.59. The company has a market cap of $30.00 billion, a PE ratio of 10.32, a price-to-earnings-growth ratio of 0.78 and a beta of 0.46. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.10 and a quick ratio of 1.10. Centene has a 1-year low of $55.03 and a 1-year high of $81.42.

Insider Transactions at Centene

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 cost of $58.14 per share, with a total value of $1,000,008.00. Following the purchase, the chief financial officer now 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sarah London purchased 4,117 shares of Centene stock in a transaction on Friday, November 8th. The shares were acquired at an average cost of $60.80 per share, for a total transaction 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 0.62 % 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 Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. WR Wealth Planners LLC grew 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 period. Whittier Trust Co. boosted its holdings in shares of Centene by 10.0% in 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 last quarter. Mount Yale Investment Advisors LLC grew its stake in shares of Centene by 2.1% during the 3rd 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. Meridian Management Co. raised its position in shares of Centene by 0.3% in the 2nd 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. Finally, E Fund Management Co. Ltd. boosted its holdings in Centene by 6.4% in the second quarter. E Fund Management Co. Ltd. now owns 3,309 shares of the company’s stock valued at $219,000 after acquiring an additional 199 shares during the last quarter. Institutional investors and hedge funds 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.