Insider Selling: Centene Corp EVP Sells 5,000 Shares of Stock (CNC)
Centene Corp (NYSE:CNC) EVP Donald G. Imholz sold 5,000 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $77.32, for a total value of $386,600.00. Following the completion of the transaction, the executive vice president now directly owns 79,057 shares of the company’s stock, valued at approximately $6,112,687. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
CNC has been the subject of a number of recent research reports. Analysts at Zacks downgraded shares of Centene Corp from an “outperform” rating to a “neutral” rating in a research note on Monday, August 25th. They now have a $84.00 price target on the stock. Separately, analysts at Cantor Fitzgerald raised their price target on shares of Centene Corp from $80.00 to $85.00 in a research note on Thursday, July 31st. They now have a “buy” rating on the stock. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Centene Corp from $71.00 to $78.00 in a research note on Tuesday, July 29th. They now have a “neutral” rating on the stock. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $83.89.
Shares of Centene Corp (NYSE:CNC) traded down 1.01% on Tuesday, hitting $77.34. 445,952 shares of the company’s stock traded hands. Centene Corp has a 52 week low of $54.12 and a 52 week high of $81.98. The stock has a 50-day moving average of $75.22 and a 200-day moving average of $69.42. The company has a market cap of $4.531 billion and a price-to-earnings ratio of 24.70.
Centene Corp (NYSE:CNC) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.09. The company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter in the previous year, the company posted $0.70 earnings per share. The company’s revenue for the quarter was up 48.5% on a year-over-year basis. On average, analysts predict that Centene Corp will post $3.83 earnings per share for the current fiscal year.
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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