Centene Co. (NYSE:CNC) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Centene Co. (NYSE:CNC) have been assigned an average recommendation of “Moderate Buy” from the fourteen brokerages that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $80.92.

A number of equities analysts have commented on the stock. Oppenheimer reduced their price objective on shares of Centene from $95.00 to $85.00 and set an “outperform” rating for the company in a research report on Friday, December 13th. Wells Fargo & Company decreased their price target on shares of Centene from $91.00 to $90.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Cantor Fitzgerald restated an “overweight” rating and set a $90.00 price objective on shares of Centene in a research report on Wednesday, December 11th. Truist Financial decreased their target price on Centene from $89.00 to $84.00 and set a “buy” rating on the stock in a research report on Friday, December 13th. Finally, UBS Group upgraded Centene from a “neutral” rating to a “buy” rating and boosted their price target for the company from $79.00 to $80.00 in a research note on Friday, December 13th.

Centene Stock Performance

CNC opened at $62.52 on Wednesday. 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 stock has a market cap of $31.56 billion, a price-to-earnings ratio of 10.85, a PEG ratio of 0.78 and a beta of 0.45. Centene has a 12-month low of $55.03 and a 12-month high of $81.42. The business has a 50 day moving average of $60.08 and a 200-day moving average of $67.56.

Insider Activity

In other Centene news, Director Thomas Greco bought 17,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were bought at an average price of $59.75 per share, for a total transaction of $1,015,750.00. Following the transaction, the director now directly owns 19,309 shares in the company, valued at approximately $1,153,712.75. This trade represents a 736.25 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sarah London bought 4,117 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were bought 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 $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. In the last ninety days, insiders bought 45,010 shares of company stock worth $2,660,276. Insiders own 0.33% of the company’s stock.

Institutional Trading of Centene

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Park Place Capital Corp increased its position in shares of Centene by 1,190.0% during the third quarter. Park Place Capital Corp now owns 387 shares of the company’s stock worth $29,000 after acquiring an additional 357 shares in the last quarter. Private Trust Co. NA increased its holdings in Centene by 75.3% during the 3rd quarter. Private Trust Co. NA now owns 773 shares of the company’s stock worth $58,000 after purchasing an additional 332 shares in the last quarter. True Wealth Design LLC purchased a new stake in shares of Centene in the third quarter worth approximately $66,000. EverSource Wealth Advisors LLC boosted its position in shares of Centene by 104.8% during the second quarter. EverSource Wealth Advisors LLC now owns 1,231 shares of the company’s stock valued at $82,000 after buying an additional 630 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its position in Centene by 77.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,163 shares of the company’s stock worth $88,000 after purchasing an additional 507 shares in the last quarter. 93.63% of the stock is owned by institutional investors.

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.