Wasatch Advisors LP Takes Position in Centene Co. (NYSE:CNC)

Wasatch Advisors LP bought a new stake in Centene Co. (NYSE:CNC - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 38,000 shares of the company's stock, valued at approximately $2,861,000.

Several other hedge funds also recently bought and sold shares of the company. Park Place Capital Corp lifted its stake in Centene by 1,190.0% in the third quarter. Park Place Capital Corp now owns 387 shares of the company's stock valued at $29,000 after buying an additional 357 shares in the last quarter. WR Wealth Planners LLC boosted its stake in Centene by 41.4% in the 2nd quarter. WR Wealth Planners LLC now owns 468 shares of the company's stock worth $31,000 after purchasing an additional 137 shares during the period. Chris Bulman Inc bought a new position in Centene during the 2nd quarter worth about $33,000. Riverview Trust Co raised 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 period. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Centene in the second quarter valued at about $36,000. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Centene Stock Performance

CNC traded up $0.06 during trading on Monday, hitting $60.06. 3,895,481 shares of the company traded hands, compared to its average volume of 4,043,780. Centene Co. has a one year low of $57.20 and a one year high of $81.42. The stock's fifty day moving average is $64.81 and its 200 day moving average is $69.70. 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 firm has a market cap of $30.32 billion, a P/E ratio of 10.43, a price-to-earnings-growth ratio of 0.82 and a beta of 0.49.

Wall Street Analyst Weigh In

Several research firms have commented on CNC. Wells Fargo & Company cut their target price on Centene from $91.00 to $90.00 and set an "overweight" rating on the stock in a research note on Monday, November 4th. Barclays reduced their target price 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. Robert W. Baird lowered their price target on shares of Centene from $83.00 to $66.00 and set a "neutral" rating on the stock in a research note on Friday, October 25th. Sanford C. Bernstein decreased their price objective on Centene from $96.00 to $88.00 and set an "outperform" rating for the company in a report on Wednesday, October 30th. Finally, Stephens reiterated an "equal weight" rating and set a $78.00 target price on shares of Centene in a report on Monday, August 5th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $83.92.

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.