Centene (NYSE:CNC) Stock Rating Upgraded by StockNews.com

Centene (NYSE:CNC) was upgraded by research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Monday.

Several other research firms have also commented on CNC. 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 report on Friday, October 25th. Wells Fargo & Company reduced their price objective on shares of Centene from $91.00 to $90.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Jefferies Financial Group cut Centene from a “hold” rating to an “underperform” rating and dropped their target price for the company from $68.00 to $52.00 in a research report on Tuesday, December 10th. Barclays upped their price objective on Centene from $91.00 to $93.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Finally, UBS Group upgraded Centene from a “neutral” rating to a “buy” rating and lifted their target price for the company from $79.00 to $80.00 in a research note on Friday, December 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $80.92.

Centene Stock Up 2.0 %

Shares of CNC traded up $1.30 during midday trading on Monday, reaching $65.88. 2,877,877 shares of the stock were exchanged, compared to its average volume of 4,089,980. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.64. The company’s 50 day moving average is $60.63 and its two-hundred day moving average is $67.25. The company has a market capitalization of $33.26 billion, a P/E ratio of 11.44, a PEG ratio of 0.85 and a beta of 0.45. Centene has a 52 week low of $55.03 and a 52 week high of $81.42.

Insiders Place Their Bets

In other news, Director Thomas Greco bought 17,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was purchased at an average price of $59.75 per share, with a total value of $1,015,750.00. Following the completion of the acquisition, the director now directly owns 19,309 shares of the company’s stock, valued at $1,153,712.75. This trade represents a 736.25 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Theodore R. Samuels II purchased 5,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was acquired at an average price of $58.86 per share, for a total transaction of $294,300.00. Following the acquisition, the director now owns 23,000 shares in the company, valued at $1,353,780. This trade represents a 27.78 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 45,010 shares of company stock valued at $2,660,276. Insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Centene

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CNC. Park Place Capital Corp grew its position 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 buying an additional 357 shares during the period. Private Trust Co. NA grew 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 acquiring an additional 332 shares during the period. True Wealth Design LLC acquired a new position in Centene in the 3rd quarter worth about $66,000. Venturi Wealth Management LLC boosted its position in Centene by 77.3% during the third 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. Finally, Cromwell Holdings LLC grew its holdings in Centene by 588.0% in the third quarter. Cromwell Holdings LLC now owns 1,266 shares of the company’s stock valued at $95,000 after purchasing an additional 1,082 shares during the period. 93.63% of the stock is owned by institutional investors and hedge funds.

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.