Centene (NYSE:CNC) Hits New 1-Year Low – Time to Sell?

Centene Co. (NYSE:CNC)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $59.47 and last traded at $59.59, with a volume of 1118631 shares trading hands. The stock had previously closed at $60.75.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CNC. Robert W. Baird cut their price target on Centene from $83.00 to $66.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Jefferies Financial Group cut shares of Centene from a “buy” rating to a “hold” rating and reduced their price target for the stock from $83.00 to $69.00 in a report on Wednesday, July 24th. Stephens reiterated an “equal weight” rating and set a $78.00 price objective on shares of Centene in a report on Monday, August 5th. Barclays dropped their price target on Centene from $97.00 to $91.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Centene from $82.00 to $87.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $83.92.

Centene Stock Down 1.0 %

The stock’s 50-day simple moving average is $68.91 and its 200-day simple moving average is $71.30. 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 firm has a market capitalization of $29.30 billion, a P/E ratio of 10.08, a P/E/G ratio of 0.80 and a beta of 0.49.

Insider Activity at Centene

In other Centene news, CFO Andrew Lynn Asher acquired 17,200 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were acquired at an average price of $58.14 per share, with a total value of $1,000,008.00. Following the completion of the transaction, the chief financial officer now owns 486,847 shares in the company, valued at approximately $28,305,284.58. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CFO Andrew Lynn Asher acquired 17,200 shares of the stock in a transaction on Wednesday, November 13th. The shares were acquired at an average price of $58.14 per share, with a total value of $1,000,008.00. Following the completion of the transaction, the chief financial officer now owns 486,847 shares in the company, valued at approximately $28,305,284.58. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sarah London bought 4,117 shares of Centene stock in a transaction dated Friday, November 8th. The shares were bought at an average cost of $60.80 per share, with a total value of $250,313.60. Following the completion of the transaction, the chief executive officer now directly owns 667,229 shares in the company, valued at approximately $40,567,523.20. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.33% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CNC. EP Wealth Advisors LLC lifted its holdings in Centene by 1.0% during the first quarter. EP Wealth Advisors LLC now owns 13,604 shares of the company’s stock valued at $1,068,000 after purchasing an additional 133 shares during the last quarter. WR Wealth Planners LLC lifted its stake in shares of Centene by 41.4% during the 2nd quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock valued at $31,000 after buying an additional 137 shares in the last quarter. Whittier Trust Co. boosted its holdings in Centene by 10.0% in the 2nd quarter. Whittier Trust Co. now owns 1,562 shares of the company’s stock worth $104,000 after buying an additional 142 shares during the period. Mount Yale Investment Advisors LLC grew its stake in Centene by 2.1% in the 3rd quarter. Mount Yale Investment Advisors LLC now owns 8,082 shares of the company’s stock valued at $608,000 after buying an additional 167 shares in the last quarter. Finally, Bleakley Financial Group LLC raised its holdings in Centene by 2.4% during the 1st quarter. Bleakley Financial Group LLC now owns 7,287 shares of the company’s stock valued at $572,000 after acquiring an additional 173 shares during the period. Hedge funds and other institutional investors own 93.63% of the company’s stock.

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.