Centene Corporation (NYSE:CNC)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $105.45 and last traded at $102.50, with a volume of 1037600 shares traded. The stock had previously closed at $104.43.
CNC has been the topic of a number of recent research reports. Cantor Fitzgerald raised their target price on shares of Centene to $107.00 and gave the stock an “overweight” rating in a report on Wednesday, September 13th. Cowen reissued an “outperform” rating and issued a $105.00 target price (up previously from $77.00) on shares of Centene in a report on Wednesday, September 13th. Leerink Swann reissued a “market perform” rating and issued a $90.00 target price (up previously from $78.00) on shares of Centene in a report on Wednesday, September 13th. Deutsche Bank reissued a “buy” rating and issued a $111.00 target price (up previously from $95.00) on shares of Centene in a report on Thursday, September 14th. Finally, Zacks Investment Research raised shares of Centene from a “hold” rating to a “buy” rating and set a $107.00 target price on the stock in a report on Friday, September 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $104.21.
The stock has a market capitalization of $18,200.00, a price-to-earnings ratio of 21.80, a price-to-earnings-growth ratio of 1.28 and a beta of 0.70. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.71.
In related news, Director Robert K. Ditmore sold 4,167 shares of the business’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $90.42, for a total transaction of $376,780.14. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Jesse N. Hunter sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $98.73, for a total value of $987,300.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,167 shares of company stock worth $1,864,630. Corporate insiders own 3.00% of the company’s stock.
A number of large investors have recently made changes to their positions in CNC. Pacer Advisors Inc. raised its holdings in Centene by 8.2% during the second quarter. Pacer Advisors Inc. now owns 3,769 shares of the company’s stock worth $301,000 after purchasing an additional 287 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in Centene during the second quarter worth approximately $496,000. Keybank National Association OH raised its holdings in Centene by 1.1% during the second quarter. Keybank National Association OH now owns 3,180 shares of the company’s stock worth $254,000 after purchasing an additional 36 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Centene by 3.9% during the second quarter. Principal Financial Group Inc. now owns 283,890 shares of the company’s stock worth $22,677,000 after purchasing an additional 10,590 shares in the last quarter. Finally, Eagle Asset Management Inc. raised its holdings in Centene by 39.1% during the second quarter. Eagle Asset Management Inc. now owns 67,527 shares of the company’s stock worth $5,394,000 after purchasing an additional 18,964 shares in the last quarter. 91.84% of the stock is currently owned by hedge funds and other institutional investors.
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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.
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