Insider Selling: Centene Corp. CEO Sells 10,000 Shares of Stock (CNC)
Centene Corp. (NYSE:CNC) CEO Michael F. Neidorff sold 10,000 shares of the company’s stock on the open market in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $62.00, for a total value of $620,000.00. Following the transaction, the chief executive officer now directly owns 1,745,926 shares of the company’s stock, valued at approximately $108,247,412. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Centene Corp. (NYSE:CNC) traded down 0.40% during mid-day trading on Thursday, hitting $61.54. 625,701 shares of the company’s stock traded hands. Centene Corp. has a 1-year low of $42.14 and a 1-year high of $67.84. The stock’s 50-day moving average is $59.97 and its 200-day moving average is $59.50. The company has a market cap of $3.370 billion and a price-to-earnings ratio of 29.24.
Centene Corp. (NYSE:CNC) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.84 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.83 by $0.01. The company had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same quarter in the previous year, the company posted $0.47 earnings per share. The company’s revenue for the quarter was up 29.0% on a year-over-year basis. On average, analysts predict that Centene Corp. will post $3.59 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on CNC shares. Analysts at Leerink Swann raised their price target on shares of Centene Corp. from $68.00 to $71.00 in a research note to investors on Wednesday. Separately, analysts at Citigroup Inc. upgraded shares of Centene Corp. from a “sell” rating to a “neutral” rating in a research note to investors on Wednesday. They now have a $59.00 price target on the stock. Finally, analysts at Credit Suisse upgraded shares of Centene Corp. from a “neutral” rating to an “outperform” rating in a research note to investors on Thursday, January 23rd. They now have a $70.00 price target on the stock, down previously from $72.00. Eight research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Centene Corp. currently has a consensus rating of “Buy” and an average price target of $68.88.
Centene Corporation is a multi-line healthcare enterprise, which provides programs and services to the number of under-insured and uninsured individuals.
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