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

Centene Co. (NYSE:CNC - Get Free Report) was the recipient of unusually large options trading on Tuesday. Traders acquired 17,741 call options on the stock. This represents an increase of approximately 92% compared to the typical volume of 9,244 call options.

Centene Stock Up 1.6 %

CNC traded up $0.99 during trading hours on Tuesday, reaching $64.81. 6,195,671 shares of the stock traded hands, compared to its average volume of 3,888,284. Centene has a fifty-two week low of $59.77 and a fifty-two week high of $81.42. The firm's fifty day simple moving average is $70.71 and its two-hundred day simple moving average is $71.82. 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 company has a market cap of $32.72 billion, a price-to-earnings ratio of 11.25, a PEG ratio of 0.87 and a beta of 0.49.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CNC. JPMorgan Chase & Co. lowered their price objective on shares of Centene from $85.00 to $80.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 10th. StockNews.com downgraded shares of Centene from a "strong-buy" rating to a "buy" rating in a research report on Monday, October 28th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Centene from $82.00 to $87.00 and gave the company a "hold" rating in a report on Friday, August 2nd. Oppenheimer decreased their price objective on Centene from $110.00 to $95.00 and set an "outperform" rating on the stock in a research note on Monday, July 29th. Finally, Truist Financial cut their price target on Centene from $92.00 to $89.00 and set a "buy" rating for the company in a report on Monday, July 15th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, Centene presently has a consensus rating of "Moderate Buy" and an average price target of $83.92.

Institutional Trading of Centene

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Park Place Capital Corp grew its holdings in shares of Centene by 1,190.0% during the third quarter. Park Place Capital Corp now owns 387 shares of the company's stock valued at $29,000 after purchasing an additional 357 shares during the last quarter. WR Wealth Planners LLC increased its stake 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 buying an additional 137 shares during the period. Chris Bulman Inc acquired a new stake in shares of Centene during the 2nd quarter valued at about $33,000. Riverview Trust Co lifted its stake in shares of Centene by 154.6% in the 2nd quarter. Riverview Trust Co now owns 527 shares of the company's stock valued at $35,000 after purchasing an additional 320 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Centene in the 2nd quarter worth approximately $36,000. 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.