Oppenheimer Issues Pessimistic Forecast for Centene (NYSE:CNC) Stock Price

Centene (NYSE:CNC) had its target price reduced by investment analysts at Oppenheimer from $95.00 to $85.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s price target points to a potential upside of 43.05% from the stock’s current price.

CNC has been the subject of several other research reports. UBS Group raised shares of Centene from a “neutral” rating to a “buy” rating and raised their price target for the company from $79.00 to $80.00 in a research report on Friday. Wells Fargo & Company lowered their target price on Centene from $91.00 to $90.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Robert W. Baird decreased their price objective on Centene from $83.00 to $66.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Barclays cut their target price on shares of Centene from $97.00 to $91.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $90.00 price target on shares of Centene in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $81.31.

Centene Stock Performance

Shares of Centene stock opened at $59.42 on Friday. The stock has a market capitalization of $30.00 billion, a price-to-earnings ratio of 10.32, a price-to-earnings-growth ratio of 0.78 and a beta of 0.46. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.10 and a quick ratio of 1.10. The business has a 50-day moving average of $62.02 and a 200 day moving average of $68.59. Centene has a 12 month low of $55.03 and a 12 month high of $81.42.

Insider Activity at Centene

In other news, CEO Sarah London acquired 4,117 shares of Centene stock in a transaction on Friday, November 8th. The stock was bought at an average price of $60.80 per share, for a total transaction of $250,313.60. Following the completion of the purchase, the chief executive officer now owns 667,229 shares in the company, valued at $40,567,523.20. This represents a 0.62 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Andrew Lynn Asher bought 17,200 shares of the stock in a transaction dated Wednesday, November 13th. The shares were acquired at an average price 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. The trade was a 3.66 % increase in their position. The disclosure for this purchase can be found here. 0.33% of the stock is owned by corporate insiders.

Institutional Trading of Centene

A number of large investors have recently bought and sold shares of the business. WR Wealth Planners LLC raised its holdings in shares of Centene by 41.4% in 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. Whittier Trust Co. raised its stake in Centene by 10.0% during the 2nd quarter. Whittier Trust Co. now owns 1,562 shares of the company’s stock valued at $104,000 after acquiring an additional 142 shares during the last quarter. Mount Yale Investment Advisors LLC lifted its position in Centene by 2.1% during the 3rd quarter. Mount Yale Investment Advisors LLC now owns 8,082 shares of the company’s stock worth $608,000 after acquiring an additional 167 shares during the period. Meridian Management Co. increased its holdings in shares of Centene by 0.3% in the second quarter. Meridian Management Co. now owns 64,721 shares of the company’s stock valued at $4,291,000 after purchasing an additional 189 shares during the period. Finally, E Fund Management Co. Ltd. raised its stake in shares of Centene by 6.4% during the second quarter. E Fund Management Co. Ltd. now owns 3,309 shares of the company’s stock worth $219,000 after purchasing an additional 199 shares during the last quarter. Institutional investors and hedge funds own 93.63% of the company’s stock.

Centene Company Profile

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.