Centene’s (CNC) “Overweight” Rating Reiterated at Cantor Fitzgerald

Centene (NYSE:CNC)‘s stock had its “overweight” rating restated by research analysts at Cantor Fitzgerald in a note issued to investors on Wednesday,Benzinga reports. They presently have a $90.00 price target on the stock. Cantor Fitzgerald’s price target would indicate a potential upside of 55.17% from the stock’s current price.

Other analysts have also recently issued reports about the stock. Jefferies Financial Group cut shares of Centene from a “hold” rating to an “underperform” rating and reduced their target price for the company from $68.00 to $52.00 in a report on Tuesday. StockNews.com lowered shares of Centene from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 28th. Sanford C. Bernstein dropped their price target on shares of Centene from $96.00 to $88.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Robert W. Baird dropped 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. Finally, Barclays lowered their target price on shares of Centene from $97.00 to $91.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $82.62.

Centene Stock Up 1.9 %

Shares of Centene stock opened at $58.00 on Wednesday. The company has a market cap of $29.28 billion, a price-to-earnings ratio of 10.03, a price-to-earnings-growth ratio of 0.78 and a beta of 0.46. The company’s 50 day moving average is $62.56 and its 200 day moving average is $68.80. Centene has a twelve month low of $55.03 and a twelve month high of $81.42. 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 Centene stock in a transaction dated Friday, November 8th. The shares were acquired 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 owns 667,229 shares in the company, valued at approximately $40,567,523.20. This trade represents a 0.62 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Andrew Lynn Asher purchased 17,200 shares of Centene stock in a transaction dated Wednesday, November 13th. The shares were acquired at an average cost of $58.14 per share, for a total transaction of $1,000,008.00. Following the completion of the transaction, the chief financial officer now owns 486,847 shares of the company’s stock, valued at approximately $28,305,284.58. This represents a 3.66 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Centene

Large investors have recently made changes to their positions in the business. Park Place Capital Corp grew its holdings in shares of 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 last quarter. WR Wealth Planners LLC grew its holdings 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 buying an additional 137 shares during the last quarter. Chris Bulman Inc purchased a new stake in shares of Centene during the second quarter valued at $33,000. Crewe Advisors LLC grew 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 valued at $45,000 after buying an additional 434 shares during the last quarter. Finally, Private Trust Co. NA boosted its holdings in Centene by 75.3% in the third quarter. Private Trust Co. NA now owns 773 shares of the company’s stock valued at $58,000 after purchasing an additional 332 shares during the last quarter. 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.