Centene (NYSE:CNC) Price Target Lowered to $84.00 at Truist Financial

Centene (NYSE:CNC - Free Report) had its price target reduced by Truist Financial from $89.00 to $84.00 in a report released on Friday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Several other equities research analysts have also recently weighed in on CNC. UBS Group upgraded Centene from a "neutral" rating to a "buy" rating and upped their target price for the stock from $79.00 to $80.00 in a report on Friday. Jefferies Financial Group cut shares of Centene from a "hold" rating to an "underperform" rating and dropped their target price for the stock from $68.00 to $52.00 in a report on Tuesday. Barclays reduced their price target on shares of Centene from $97.00 to $91.00 and set an "overweight" rating for the company in a report on Tuesday, October 29th. StockNews.com downgraded shares of Centene from a "strong-buy" rating to a "buy" rating in a research note on Monday, October 28th. Finally, Wells Fargo & Company reduced their price objective on shares of Centene from $91.00 to $90.00 and set an "overweight" rating for the company in a research note on Monday, November 4th. One investment 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. According to data from MarketBeat.com, Centene has an average rating of "Moderate Buy" and an average price target of $81.31.

Centene Trading Up 2.4 %

Shares of NYSE:CNC traded up $1.42 during trading on Friday, reaching $59.42. 7,063,954 shares of the company were exchanged, compared to its average volume of 4,099,720. 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 firm 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. The business's fifty day simple moving average is $62.02 and its 200-day simple moving average is $68.62. Centene has a 12-month low of $55.03 and a 12-month high of $81.42.

Insider Buying and Selling at Centene

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

Institutional Trading of Centene

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Park Place Capital Corp boosted its holdings 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 valued at $29,000 after acquiring an additional 357 shares during the last quarter. WR Wealth Planners LLC lifted its holdings in shares of 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 Centene during the second quarter worth about $33,000. Crewe Advisors LLC raised its position in Centene by 174.3% during the second quarter. Crewe Advisors LLC now owns 683 shares of the company's stock valued at $45,000 after acquiring an additional 434 shares in the last quarter. Finally, Private Trust Co. NA lifted its holdings in Centene by 75.3% in the third quarter. Private Trust Co. NA now owns 773 shares of the company's stock valued at $58,000 after acquiring an additional 332 shares during the period. Institutional investors and hedge funds own 93.63% of the company's stock.

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.