Centene Co. (NYSE:CNC) reached a new 52-week high and low during trading on Tuesday . The stock traded as low as $112.67 and last traded at $112.60, with a volume of 573783 shares. The stock had previously closed at $109.92.
Several research firms have commented on CNC. Morgan Stanley boosted their price objective on Centene from $118.00 to $126.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. ValuEngine upgraded Centene from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Zacks Investment Research cut Centene from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 10th. Credit Suisse Group boosted their target price on Centene from $110.00 to $112.00 and gave the stock a “neutral” rating in a report on Wednesday, February 7th. Finally, Goldman Sachs started coverage on Centene in a report on Wednesday, January 3rd. They set a “buy” rating and a $135.00 target price on the stock. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $110.28.
The firm has a market cap of $18,691.07, a P/E ratio of 21.85, a P/E/G ratio of 1.02 and a beta of 0.75. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.93 and a quick ratio of 0.93.
In related news, EVP Christopher D. Bowers sold 4,800 shares of the company’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $102.27, for a total value of $490,896.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert K. Ditmore sold 8,750 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $104.13, for a total value of $911,137.50. The disclosure for this sale can be found here. Corporate insiders own 3.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in CNC. BlackRock Inc. raised its position in Centene by 4.6% in the fourth quarter. BlackRock Inc. now owns 13,939,406 shares of the company’s stock valued at $1,406,209,000 after purchasing an additional 616,914 shares during the period. Acadian Asset Management LLC raised its position in Centene by 68.2% in the fourth quarter. Acadian Asset Management LLC now owns 1,239,278 shares of the company’s stock valued at $125,021,000 after purchasing an additional 502,329 shares during the period. AGF Investments Inc. purchased a new stake in Centene in the fourth quarter valued at approximately $49,577,000. Arrowstreet Capital Limited Partnership raised its position in Centene by 2,219.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 500,937 shares of the company’s stock valued at $50,535,000 after purchasing an additional 479,337 shares during the period. Finally, Element Capital Management LLC purchased a new stake in Centene in the fourth quarter valued at approximately $44,066,000. 90.58% of the stock is currently owned by institutional investors.
Centene Corporation operates as a diversified and multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. It operates through two segments, Managed Care and Specialty Services. The Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term care, foster care, and dual eligible individual, as well as aged, blind, or disabled programs.
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