Centene (NYSE:CNC) Given New $73.00 Price Target at Stephens

Centene (NYSE:CNC - Get Free Report) had its target price dropped by research analysts at Stephens from $75.00 to $73.00 in a report issued on Friday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Stephens' price target indicates a potential upside of 22.85% from the stock's current price.

A number of other analysts also recently weighed in on the company. Robert W. Baird dropped their target price on Centene from $83.00 to $66.00 and set a "neutral" rating for the company in a research report on Friday, October 25th. Sanford C. Bernstein lowered their price objective on shares of Centene from $96.00 to $88.00 and set an "outperform" rating for the company in a report on Wednesday, October 30th. Oppenheimer reduced their target price on shares of Centene from $95.00 to $85.00 and set an "outperform" rating on the stock in a report on Friday. Cantor Fitzgerald reissued an "overweight" rating and issued a $90.00 price target on shares of Centene in a research note on Wednesday. Finally, Truist Financial decreased their price objective on Centene from $89.00 to $84.00 and set a "buy" rating on the stock in a report on Friday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $81.31.

Centene Price Performance

NYSE:CNC traded up $1.42 during midday trading on Friday, hitting $59.42. The company had a trading volume of 7,063,954 shares, compared to its average volume of 4,099,720. The stock's fifty day moving average price is $62.02 and its 200-day moving average price is $68.62. Centene has a 52-week low of $55.03 and a 52-week high of $81.42. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $30.00 billion, a PE ratio of 10.32, a P/E/G ratio of 0.78 and a beta of 0.46.

Insider Buying and Selling at Centene

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

Institutional Investors Weigh In On Centene

A number of large investors have recently made changes to their positions in CNC. Blue Trust Inc. lifted its position in Centene by 47.9% during the second quarter. Blue Trust Inc. now owns 4,716 shares of the company's stock valued at $313,000 after purchasing an additional 1,527 shares in the last quarter. Grove Bank & Trust increased its holdings in Centene by 17.9% in the 2nd quarter. Grove Bank & Trust now owns 8,602 shares of the company's stock worth $570,000 after acquiring an additional 1,307 shares in the last quarter. Independence Bank of Kentucky raised its stake in Centene by 459.2% during the 2nd quarter. Independence Bank of Kentucky now owns 1,096 shares of the company's stock worth $73,000 after acquiring an additional 900 shares during the period. Cypress Capital Group boosted its position in shares of Centene by 192.8% in the second quarter. Cypress Capital Group now owns 13,610 shares of the company's stock worth $902,000 after purchasing an additional 8,962 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Centene by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 5,491,968 shares of the company's stock worth $364,117,000 after purchasing an additional 25,595 shares in the last quarter. 93.63% of the stock is currently owned by 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.