Centene Co. (NYSE:CNC) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Centene Co. (NYSE:CNC) have been given a consensus rating of “Moderate Buy” by the fourteen analysts that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $80.92.

A number of research analysts have recently weighed in on the company. Oppenheimer dropped their price target on Centene from $95.00 to $85.00 and set an “outperform” rating for the company in a research report on Friday, December 13th. Jefferies Financial Group downgraded shares of 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 report on Tuesday, December 10th. Barclays increased their price target on shares of Centene from $91.00 to $93.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Truist Financial reduced their target price on Centene from $89.00 to $84.00 and set a “buy” rating on the stock in a research note on Friday, December 13th. Finally, Robert W. Baird dropped their price target on Centene from $83.00 to $66.00 and set a “neutral” rating for the company in a research report on Friday, October 25th.

Centene Stock Performance

CNC opened at $59.58 on Friday. The stock’s 50 day simple moving average is $60.75 and its 200 day simple moving average is $68.21. The stock has a market cap of $30.08 billion, a P/E ratio of 10.34, a P/E/G ratio of 0.78 and a beta of 0.46. Centene has a 1-year low of $55.03 and a 1-year high of $81.42. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.10 and a quick ratio of 1.10.

Insider Activity

In related news, CFO Andrew Lynn Asher acquired 17,200 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were bought at an average cost 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 directly owns 486,847 shares of the company’s stock, valued at $28,305,284.58. This trade represents a 3.66 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director H James Dallas bought 1,693 shares of the stock in a transaction dated Monday, December 16th. The stock was bought at an average price of $59.01 per share, with a total value of $99,903.93. Following the purchase, the director now owns 1,693 shares of the company’s stock, valued at approximately $99,903.93. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders purchased 45,010 shares of company stock valued at $2,660,276 in the last ninety days. Company insiders own 0.33% of the company’s stock.

Institutional Trading of Centene

Large investors have recently bought and sold shares of the company. Harris Associates L P increased its stake in Centene by 5.7% during the 3rd quarter. Harris Associates L P now owns 26,314,183 shares of the company’s stock worth $1,980,932,000 after buying an additional 1,420,825 shares during the period. State Street Corp boosted its holdings in Centene by 0.5% in the third quarter. State Street Corp now owns 23,468,159 shares of the company’s stock valued at $1,766,683,000 after purchasing an additional 111,654 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Centene by 3.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,768,534 shares of the company’s stock valued at $434,255,000 after purchasing an additional 194,566 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Centene by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 5,491,968 shares of the company’s stock worth $364,117,000 after buying an additional 25,595 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in Centene by 14.2% in the second quarter. Legal & General Group Plc now owns 5,113,759 shares of the company’s stock valued at $339,042,000 after acquiring an additional 636,683 shares in the last quarter. 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.