Centene (NYSE:CNC) Given New $84.00 Price Target at Truist Financial

Centene (NYSE:CNC) had its price target cut by Truist Financial from $89.00 to $84.00 in a research note published on Friday,Benzinga reports. They currently have a buy rating on the stock.

CNC has been the topic of several other reports. Wells Fargo & Company lowered their price objective on shares of Centene from $91.00 to $90.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Barclays reduced their target price on shares of Centene from $97.00 to $91.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. UBS Group raised shares of Centene from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $79.00 to $80.00 in a research note on Friday. Jefferies Financial Group lowered Centene from a “hold” rating to an “underperform” rating and cut their target price for the company from $68.00 to $52.00 in a report on Tuesday. Finally, Sanford C. Bernstein cut their price objective on Centene from $96.00 to $88.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Centene has an average rating of “Moderate Buy” and an average price target of $81.31.

Centene Price Performance

CNC opened at $59.41 on Friday. The company has a market capitalization of $29.99 billion, a P/E ratio of 10.31, a PEG ratio of 0.78 and a beta of 0.46. The company has a 50-day moving average of $62.02 and a 200-day moving average of $68.62. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.10 and a current ratio of 1.10. Centene has a 1-year low of $55.03 and a 1-year high of $81.42.

Insider Buying and Selling at Centene

In related news, CEO Sarah London purchased 4,117 shares of Centene stock in a transaction dated Friday, November 8th. The shares were acquired at an average cost of $60.80 per share, for a total transaction of $250,313.60. Following the transaction, the chief executive officer now directly owns 667,229 shares of the company’s stock, valued at approximately $40,567,523.20. This trade represents a 0.62 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Andrew Lynn Asher purchased 17,200 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was purchased at an average price of $58.14 per share, for a total transaction of $1,000,008.00. Following the completion of the transaction, the chief financial officer now directly owns 486,847 shares in the company, valued at $28,305,284.58. This trade represents a 3.66 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.33% of the company’s stock.

Institutional Trading of Centene

Several hedge funds have recently bought and sold shares of CNC. Park Place Capital Corp lifted its position in Centene by 1,190.0% in the 3rd quarter. Park Place Capital Corp now owns 387 shares of the company’s stock valued at $29,000 after acquiring an additional 357 shares in the last quarter. WR Wealth Planners LLC boosted its holdings in Centene by 41.4% during the second quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock worth $31,000 after purchasing an additional 137 shares during the last quarter. Chris Bulman Inc bought a new position in Centene in the second quarter valued at $33,000. Crewe Advisors LLC lifted its position in Centene by 174.3% during the 2nd quarter. Crewe Advisors LLC now owns 683 shares of the company’s stock worth $45,000 after buying an additional 434 shares in the last quarter. Finally, Private Trust Co. NA boosted its stake in shares of Centene by 75.3% during the 3rd quarter. Private Trust Co. NA now owns 773 shares of the company’s stock worth $58,000 after buying an additional 332 shares during the last quarter. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Centene Company Profile

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.