Centene Target of Unusually Large Options Trading (NYSE:CNC)

Centene Co. (NYSE:CNC - Get Free Report) was the recipient of unusually large options trading on Friday. Stock investors bought 15,556 put options on the stock. This is an increase of 62% compared to the typical volume of 9,617 put options.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CNC shares. Sanford C. Bernstein lowered their target price on shares of Centene from $96.00 to $88.00 and set an "outperform" rating on the stock in a report on Wednesday, October 30th. UBS Group raised shares of Centene from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $79.00 to $80.00 in a research note on Friday. Wells Fargo & Company reduced their target price on Centene from $91.00 to $90.00 and set an "overweight" rating on the stock in a report on Monday, November 4th. Stephens dropped their price target on Centene from $75.00 to $73.00 and set an "equal weight" rating for the company in a report on Friday. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $90.00 target price on shares of Centene in a report on Wednesday. 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. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $81.31.

Centene Trading Up 2.4 %

Shares of Centene stock traded up $1.42 on Friday, hitting $59.42. 7,063,954 shares of the company's stock traded hands, compared to its average volume of 4,099,720. Centene has a one year low of $55.03 and a one year high of $81.42. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.10 and a quick ratio of 1.10. The stock has a market capitalization of $30.00 billion, a PE ratio of 10.32, a price-to-earnings-growth ratio of 0.78 and a beta of 0.46. The firm's 50-day moving average price is $62.02 and its two-hundred day moving average price is $68.59.

Insider Buying and Selling

In other Centene news, CFO Andrew Lynn Asher purchased 17,200 shares of the company's stock in a transaction that occurred on Wednesday, November 13th. The stock was purchased at an average price of $58.14 per share, with a total value of $1,000,008.00. Following the completion of the transaction, the chief financial officer now directly owns 486,847 shares of the company's stock, valued at approximately $28,305,284.58. This trade represents a 3.66 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sarah London acquired 4,117 shares of the firm's stock in a transaction on Friday, November 8th. The shares were bought at an average cost of $60.80 per share, for a total transaction of $250,313.60. Following the completion of the acquisition, the chief executive officer now directly owns 667,229 shares of the company's stock, valued at approximately $40,567,523.20. This represents a 0.62 % increase in their position. The disclosure for this purchase can be found here. 0.33% of the stock is owned by company insiders.

Institutional Trading of Centene

A number of hedge funds have recently modified their holdings of CNC. Park Place Capital Corp raised its holdings in Centene by 1,190.0% in the third quarter. Park Place Capital Corp now owns 387 shares of the company's stock worth $29,000 after purchasing an additional 357 shares during the period. WR Wealth Planners LLC grew its stake in Centene by 41.4% in the second quarter. WR Wealth Planners LLC now owns 468 shares of the company's stock valued at $31,000 after acquiring an additional 137 shares during the period. Chris Bulman Inc bought a new stake in shares of Centene in the second quarter worth about $33,000. Crewe Advisors LLC raised its position in shares of Centene by 174.3% during the second quarter. Crewe Advisors LLC now owns 683 shares of the company's stock worth $45,000 after purchasing an additional 434 shares during the period. Finally, Private Trust Co. NA lifted its holdings in shares of Centene by 75.3% during the 3rd quarter. Private Trust Co. NA now owns 773 shares of the company's stock valued at $58,000 after purchasing an additional 332 shares in 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.