Centene (NYSE:CNC) Sees Unusually-High Trading Volume - Should You Buy?

Centene Co. (NYSE:CNC - Get Free Report) shares saw unusually-strong trading volume on Thursday . Approximately 12,482,341 shares changed hands during mid-day trading, an increase of 203% from the previous session's volume of 4,119,916 shares.The stock last traded at $59.47 and had previously closed at $59.49.

Wall Street Analyst Weigh In

CNC has been the subject of several analyst reports. StockNews.com cut Centene from a "strong-buy" rating to a "buy" rating in a research note on Monday, October 28th. JPMorgan Chase & Co. reissued an "overweight" rating and set a $75.00 price objective (down from $80.00) on shares of Centene in a research report on Tuesday. Sanford C. Bernstein decreased their price target on shares of Centene from $96.00 to $88.00 and set an "outperform" rating for the company in a research note on Wednesday, October 30th. Oppenheimer dropped their price objective on shares of Centene from $95.00 to $85.00 and set an "outperform" rating on the stock in a research report on Friday, December 13th. Finally, Robert W. Baird lowered their target price on shares of Centene from $83.00 to $66.00 and set a "neutral" rating for the company in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $80.92.

Centene Price Performance

The firm has a market capitalization of $30.15 billion, a PE ratio of 10.37, a P/E/G ratio of 0.78 and a beta of 0.46. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.64. The company has a fifty day moving average price of $61.01 and a two-hundred day moving average price of $68.29.

Insider Buying and Selling at Centene

In related news, Director Theodore R. Samuels II acquired 5,000 shares of the firm's stock in a transaction on Friday, December 13th. The stock was bought at an average cost of $58.86 per share, with a total value of $294,300.00. Following the transaction, the director now owns 23,000 shares of the company's stock, valued at $1,353,780. The trade was a 27.78 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director H James Dallas bought 1,693 shares of the company's stock in a transaction dated Monday, December 16th. The stock was bought at an average cost of $59.01 per share, for a total transaction of $99,903.93. Following the acquisition, the director now owns 1,693 shares of the company's stock, valued at approximately $99,903.93. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 45,010 shares of company stock worth $2,660,276. 0.33% of the stock is owned by insiders.

Hedge Funds Weigh In On Centene

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

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.