Andrew Lynn Asher Purchases 17,200 Shares of Centene Co. (NYSE:CNC) Stock

Centene Co. (NYSE:CNC) CFO Andrew Lynn Asher bought 17,200 shares of Centene stock in a transaction on Wednesday, November 13th. The shares were purchased at an average cost of $58.14 per share, for a total transaction of $1,000,008.00. Following the acquisition, the chief financial officer now owns 486,847 shares in the company, valued at $28,305,284.58. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Centene Stock Down 1.0 %

Shares of CNC stock traded down $0.56 on Wednesday, reaching $58.04. 6,850,071 shares of the company’s stock traded hands, compared to its average volume of 3,969,779. Centene Co. has a 12-month low of $57.56 and a 12-month high of $81.42. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.10 and a current ratio of 1.10. The company has a market capitalization of $29.30 billion, a P/E ratio of 10.08, a price-to-earnings-growth ratio of 0.80 and a beta of 0.49. The business’s 50 day moving average price is $68.91 and its two-hundred day moving average price is $71.30.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft raised their price target on Centene from $82.00 to $87.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Robert W. Baird cut their price target on Centene from $83.00 to $66.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Oppenheimer cut their target price on Centene from $110.00 to $95.00 and set an “outperform” rating on the stock in a research note on Monday, July 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $90.00 target price on shares of Centene in a research note on Tuesday, October 1st. Finally, Stephens reaffirmed an “equal weight” rating and set a $78.00 target price on shares of Centene in a research note on Monday, August 5th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Centene currently has an average rating of “Moderate Buy” and an average price target of $83.92.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CNC. Vantage Investment Partners LLC boosted its position in Centene by 17.1% during the third quarter. Vantage Investment Partners LLC now owns 683,817 shares of the company’s stock valued at $51,478,000 after purchasing an additional 99,904 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Centene by 18.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 624,944 shares of the company’s stock valued at $49,046,000 after purchasing an additional 98,298 shares during the last quarter. Diversified Trust Co boosted its position in Centene by 35.8% during the second quarter. Diversified Trust Co now owns 28,009 shares of the company’s stock valued at $1,857,000 after purchasing an additional 7,385 shares during the last quarter. Bessemer Group Inc. boosted its position in Centene by 189.6% during the first quarter. Bessemer Group Inc. now owns 24,162 shares of the company’s stock valued at $1,895,000 after purchasing an additional 15,819 shares during the last quarter. Finally, Comerica Bank boosted its position in Centene by 7.3% during the first quarter. Comerica Bank now owns 118,597 shares of the company’s stock valued at $9,307,000 after purchasing an additional 8,103 shares during the last quarter. Hedge funds and other institutional investors own 93.63% of the company’s stock.

About Centene

Centene Corporation operates as a healthcare enterprise that provides programs and services to under-insured and uninsured families, commercial organizations, and military families in the United States. The company operates through Medicaid, Medicare, Commercial, and Other segments. The Medicaid segment offers health plan coverage, including medicaid expansion, aged, blind, disabled, children’s health insurance program, foster care, medicare-medicaid plans, long-term services and support.