Centene (NYSE:CNC) Trading Down 6.1%

Centene Co. (NYSE:CNCGet Free Report) dropped 6.1% on Tuesday . The stock traded as low as $72.91 and last traded at $73.00. Approximately 1,685,133 shares were traded during trading, a decline of 43% from the average daily volume of 2,965,058 shares. The stock had previously closed at $77.75.

Wall Street Analysts Forecast Growth

CNC has been the topic of several analyst reports. Barclays initiated coverage on Centene in a research note on Wednesday, March 6th. They set an “overweight” rating and a $101.00 price objective on the stock. UBS Group boosted their price objective on Centene from $72.00 to $79.00 and gave the stock a “neutral” rating in a research note on Thursday, December 21st. StockNews.com cut Centene from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 28th. Truist Financial boosted their price objective on Centene from $83.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, December 21st. Finally, Cantor Fitzgerald boosted their target price on Centene from $82.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, December 15th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $85.46.

Read Our Latest Analysis on CNC

Centene Stock Up 0.8 %

The business has a fifty day moving average of $77.19 and a 200-day moving average of $74.32. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market cap of $39.07 billion, a PE ratio of 14.88, a price-to-earnings-growth ratio of 0.90 and a beta of 0.38.

Centene (NYSE:CNCGet Free Report) last posted its earnings results on Tuesday, February 6th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. The company had revenue of $39.46 billion during the quarter, compared to analyst estimates of $36.16 billion. Centene had a return on equity of 14.26% and a net margin of 1.75%. Centene’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.86 earnings per share. Equities research analysts anticipate that Centene Co. will post 6.75 earnings per share for the current year.

Insider Transactions at Centene

In other news, President Kenneth J. Fasola sold 12,000 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $75.07, for a total transaction of $900,840.00. Following the transaction, the president now directly owns 235,365 shares of the company’s stock, valued at $17,668,850.55. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Lori Jean Robinson sold 10,000 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $77.41, for a total transaction of $774,100.00. Following the transaction, the director now directly owns 11,455 shares of the company’s stock, valued at $886,731.55. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, President Kenneth J. Fasola sold 12,000 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $75.07, for a total value of $900,840.00. Following the completion of the transaction, the president now directly owns 235,365 shares in the company, valued at $17,668,850.55. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Centene

Several hedge funds have recently made changes to their positions in the company. Hohimer Wealth Management LLC increased its position in shares of Centene by 1.1% in the 4th quarter. Hohimer Wealth Management LLC now owns 12,020 shares of the company’s stock valued at $892,000 after acquiring an additional 131 shares during the period. Sandy Spring Bank increased its position in shares of Centene by 10.1% in the 4th quarter. Sandy Spring Bank now owns 1,629 shares of the company’s stock valued at $121,000 after acquiring an additional 150 shares during the period. Signaturefd LLC increased its position in shares of Centene by 1.5% in the 3rd quarter. Signaturefd LLC now owns 10,456 shares of the company’s stock valued at $720,000 after acquiring an additional 158 shares during the period. First Bank & Trust increased its position in shares of Centene by 4.1% in the 4th quarter. First Bank & Trust now owns 4,154 shares of the company’s stock valued at $308,000 after acquiring an additional 162 shares during the period. Finally, Blue Trust Inc. grew its position in Centene by 7.2% during the 4th quarter. Blue Trust Inc. now owns 2,454 shares of the company’s stock worth $169,000 after purchasing an additional 164 shares during the period. 93.63% of the stock is owned by institutional investors and hedge funds.

Centene Company Profile

(Get Free Report)

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.

Further Reading

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