Centene (NYSE:CNC) had its price target boosted by Jefferies Group from $112.00 to $115.00 in a research report issued to clients and investors on Monday. The brokerage presently has a “buy” rating on the stock. Jefferies Group’s price objective indicates a potential upside of 21.23% from the stock’s previous close.
CNC has been the topic of a number of other research reports. Cowen reissued an “outperform” rating and set a $105.00 price objective (up previously from $77.00) on shares of Centene in a report on Wednesday, September 13th. Oppenheimer reaffirmed a “buy” rating and issued a $111.00 price target on shares of Centene in a report on Friday. Cantor Fitzgerald upped their price target on shares of Centene to $107.00 and gave the company an “overweight” rating in a report on Wednesday, September 13th. BidaskClub raised shares of Centene from a “hold” rating to a “buy” rating in a report on Thursday, August 24th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $105.00 price target on shares of Centene in a report on Friday, September 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $101.33.
Centene (NYSE:CNC) traded down $4.16 during midday trading on Monday, reaching $94.86. 4,537,700 shares of the company’s stock were exchanged, compared to its average volume of 1,686,750. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $16,369.61, a price-to-earnings ratio of 18.07, a PEG ratio of 1.44 and a beta of 0.71. Centene has a one year low of $54.40 and a one year high of $103.15.
In related news, Director Robert K. Ditmore sold 4,167 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $90.42, for a total transaction of $376,780.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.00% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Columbus Circle Investors acquired a new position in Centene during the 3rd quarter valued at about $9,387,000. Arrowstreet Capital Limited Partnership bought a new stake in Centene during the 2nd quarter worth about $455,000. Handelsbanken Fonder AB raised its holdings in Centene by 29.0% during the 3rd quarter. Handelsbanken Fonder AB now owns 178,000 shares of the company’s stock worth $17,225,000 after purchasing an additional 40,000 shares during the last quarter. Artemis Investment Management LLP bought a new stake in Centene during the 2nd quarter worth about $15,326,000. Finally, Schwab Charles Investment Management Inc. raised its holdings in Centene by 28.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 788,573 shares of the company’s stock worth $62,992,000 after purchasing an additional 176,403 shares during the last quarter. 92.33% of the stock is owned by hedge funds and other institutional investors.
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About Centene
Centene Corporation is a healthcare company. The Company provides a portfolio of services to government sponsored healthcare programs, focusing on under-insured and uninsured individuals. The Company operates through two segments: Managed Care and Specialty Services. The Company’s Managed Care segment provides health plan coverage to individuals, through government subsidized programs, including Medicaid, the State Children’s Health Insurance Program (CHIP), Long Term Care, Foster Care, dual-eligible individuals (Duals) and the Supplemental Security Income Program, also known as the Aged, Blind or Disabled Program (ABD), Medicare, and Health Insurance Marketplace.
