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

Cantor Fitzgerald reaffirmed their overweight rating on shares of Centene (NYSE:CNC) in a research report released on Wednesday morning,Benzinga reports. The firm currently has a $90.00 price objective on the stock.

Other equities analysts also recently issued reports about the stock. StockNews.com downgraded shares of Centene from a “strong-buy” rating to a “buy” rating in a report on Monday, October 28th. Robert W. Baird cut their target price on Centene from $83.00 to $66.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Jefferies Financial Group lowered shares of Centene from a “hold” rating to an “underperform” rating and reduced their price target for the company from $68.00 to $52.00 in a research report on Tuesday. Barclays decreased their target price on shares of Centene from $97.00 to $91.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. Finally, Wells Fargo & Company dropped their price objective on Centene from $91.00 to $90.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. 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 company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $81.31.

Centene Price Performance

Shares of Centene stock opened at $59.41 on Wednesday. The firm has a market cap of $29.99 billion, a PE ratio of 10.31, a P/E/G ratio of 0.78 and a beta of 0.46. The business has a 50-day moving average price of $62.28 and a 200 day moving average price of $68.73. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.64. Centene has a twelve month low of $55.03 and a twelve month high of $81.42.

Insider Activity at Centene

In other Centene news, CFO Andrew Lynn Asher bought 17,200 shares of the business’s stock in a transaction dated 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 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sarah London purchased 4,117 shares of the stock in a transaction that occurred on 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 directly owns 667,229 shares of the company’s stock, valued at $40,567,523.20. This represents a 0.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.33% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Park Place Capital Corp lifted its position in Centene by 1,190.0% in the third quarter. Park Place Capital Corp now owns 387 shares of the company’s stock valued at $29,000 after acquiring an additional 357 shares during the last quarter. WR Wealth Planners LLC lifted its holdings in shares of Centene by 41.4% in the 2nd quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock valued at $31,000 after purchasing an additional 137 shares during the last quarter. Chris Bulman Inc acquired a new stake in shares of Centene in the 2nd quarter valued at about $33,000. Crewe Advisors LLC increased its position in Centene by 174.3% during the second quarter. Crewe Advisors LLC now owns 683 shares of the company’s stock worth $45,000 after buying an additional 434 shares during the period. Finally, Private Trust Co. NA lifted its stake 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 buying an additional 332 shares during 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.