Centene (NYSE:CNC) Upgraded at UBS Group

UBS Group upgraded shares of Centene (NYSE:CNC) from a neutral rating to a buy rating in a research report released on Friday morning, Marketbeat Ratings reports. The firm currently has $80.00 price target on the stock, up from their previous price target of $79.00.

CNC has been the subject of several other reports. Wells Fargo & Company reduced their target price on Centene from $91.00 to $90.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Barclays decreased their price objective on shares of Centene from $97.00 to $91.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. Jefferies Financial Group cut shares of Centene from a “hold” rating to an “underperform” rating and cut their target price for the stock from $68.00 to $52.00 in a research note on Tuesday, December 10th. Cantor Fitzgerald restated an “overweight” rating and set a $90.00 price objective on shares of Centene in a report on Wednesday, December 11th. Finally, StockNews.com cut Centene from a “strong-buy” rating to a “buy” rating in a report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Centene has an average rating of “Moderate Buy” and an average price target of $81.31.

Centene Stock Performance

Shares of CNC opened at $59.42 on Friday. 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 firm has a 50-day moving average of $62.02 and a 200-day moving average of $68.58. Centene has a one year low of $55.03 and a one year high of $81.42. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.10 and a quick ratio of 1.10.

Insiders Place Their Bets

In other news, CFO Andrew Lynn Asher acquired 17,200 shares of Centene stock in a transaction that occurred on Wednesday, November 13th. The shares were acquired at an average price of $58.14 per share, for a total transaction of $1,000,008.00. Following 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sarah London purchased 4,117 shares of Centene stock in a transaction dated 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 completion of the acquisition, the chief executive officer now owns 667,229 shares of the company’s stock, valued at approximately $40,567,523.20. The trade was a 0.62 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Centene

Hedge funds have recently made changes to their positions in the stock. Park Place Capital Corp increased its position 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 purchasing an additional 357 shares during the period. WR Wealth Planners LLC lifted 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 buying an additional 137 shares during the period. Chris Bulman Inc bought a new stake in Centene during the second quarter valued at $33,000. Crewe Advisors LLC raised its position in shares of Centene by 174.3% in the 2nd quarter. Crewe Advisors LLC now owns 683 shares of the company’s stock worth $45,000 after acquiring an additional 434 shares in the last quarter. Finally, Private Trust Co. NA boosted its position in shares of Centene by 75.3% during the 3rd quarter. Private Trust Co. NA now owns 773 shares of the company’s stock valued at $58,000 after purchasing an additional 332 shares in the last quarter. 93.63% of the stock is currently 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.