Wasatch Advisors LP Invests $2.86 Million in Centene Co. (NYSE:CNC)

Wasatch Advisors LP purchased a new position in Centene Co. (NYSE:CNC) in the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 38,000 shares of the company’s stock, valued at approximately $2,861,000.

A number of other institutional investors also recently made changes to their positions in the stock. Park Place Capital Corp lifted its stake in Centene by 1,190.0% during the third 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 last quarter. WR Wealth Planners LLC lifted its stake in Centene by 41.4% during 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 last quarter. Chris Bulman Inc acquired a new stake in Centene during the second quarter valued at approximately $33,000. Riverview Trust Co lifted its stake in Centene by 154.6% during the second quarter. Riverview Trust Co now owns 527 shares of the company’s stock valued at $35,000 after purchasing an additional 320 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Centene during the second quarter valued at approximately $36,000. 93.63% of the stock is owned by institutional investors and hedge funds.

Centene Stock Performance

Shares of CNC opened at $60.00 on Monday. The company’s fifty day moving average is $65.11 and its 200-day moving average is $69.82. Centene Co. has a 12 month low of $57.20 and a 12 month high of $81.42. The firm has a market cap of $30.29 billion, a price-to-earnings ratio of 10.42, a price-to-earnings-growth ratio of 0.82 and a beta of 0.49. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.64.

Insider Transactions at Centene

In other Centene news, CEO Sarah London purchased 4,117 shares of the company’s stock in a transaction dated 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 purchase, 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 position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Andrew Lynn Asher acquired 17,200 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were purchased at an average cost of $58.14 per share, with a total value of $1,000,008.00. Following the completion of the acquisition, the chief financial officer now owns 486,847 shares in the company, valued at $28,305,284.58. This trade represents a 3.66 % increase in their position. The disclosure for this purchase can be found here. 0.33% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Stephens restated an “equal weight” rating and issued a $78.00 price target on shares of Centene in a research report on Monday, August 5th. Robert W. Baird reduced their price target on shares of Centene from $83.00 to $66.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Barclays reduced their price target on shares of Centene from $97.00 to $91.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. Cantor Fitzgerald restated an “overweight” rating and issued a $90.00 price target on shares of Centene in a research report on Tuesday, October 1st. Finally, Wells Fargo & Company reduced their price target on shares of Centene from $91.00 to $90.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $83.92.

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.