Barclays Increases Centene (NYSE:CNC) Price Target to $93.00

Centene (NYSE:CNC) had its price objective boosted by equities research analysts at Barclays from $91.00 to $93.00 in a report released on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective points to a potential upside of 57.57% from the stock’s previous close.

A number of other research firms have also recently commented on CNC. StockNews.com cut Centene from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 28th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $90.00 price target on shares of Centene in a report on Wednesday. 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 report on Friday. Truist Financial decreased their price objective on Centene from $89.00 to $84.00 and set a “buy” rating on the stock in a report on Friday. Finally, Robert W. Baird dropped their price objective on Centene from $83.00 to $66.00 and set a “neutral” rating for the company in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $81.69.

Centene Stock Performance

Shares of NYSE:CNC traded up $1.02 during midday trading on Friday, reaching $59.02. The company had a trading volume of 586,211 shares, compared to its average volume of 4,071,592. Centene has a 52-week low of $55.03 and a 52-week high of $81.42. The company’s 50 day moving average price is $62.28 and its 200 day moving average price is $68.73. The stock has a market cap of $29.80 billion, a P/E ratio of 10.24, a P/E/G ratio of 0.78 and a beta of 0.46. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.64.

Insiders Place Their Bets

In other news, CEO Sarah London acquired 4,117 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was acquired at an average cost of $60.80 per share, with a total value 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 $40,567,523.20. The trade was a 0.62 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Andrew Lynn Asher bought 17,200 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was acquired at an average cost of $58.14 per share, for a total transaction of $1,000,008.00. Following the completion of the acquisition, the chief financial officer now directly owns 486,847 shares in the company, valued at approximately $28,305,284.58. This trade represents a 3.66 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.33% of the stock is owned by company insiders.

Institutional Investors Weigh In On Centene

Several hedge funds have recently made changes to their positions in the business. Park Place Capital Corp grew its holdings in Centene by 1,190.0% during the third quarter. Park Place Capital Corp now owns 387 shares of the company’s stock worth $29,000 after acquiring an additional 357 shares during the period. WR Wealth Planners LLC boosted its stake in shares of 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 acquiring an additional 137 shares during the last quarter. Chris Bulman Inc purchased a new position in shares of Centene during the second quarter valued at approximately $33,000. Crewe Advisors LLC boosted its holdings in shares of Centene by 174.3% during the second quarter. Crewe Advisors LLC now owns 683 shares of the company’s stock worth $45,000 after purchasing an additional 434 shares during the last quarter. Finally, Private Trust Co. NA grew its holdings in Centene by 75.3% in the 3rd quarter. Private Trust Co. NA now owns 773 shares of the company’s stock valued at $58,000 after buying an additional 332 shares during the period. Institutional investors and hedge funds 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.