Centene (NYSE:CNC) Reaches New 12-Month Low – Here’s Why

Centene Co. (NYSE:CNC) hit a new 52-week low during trading on Tuesday . The stock traded as low as $59.47 and last traded at $59.59, with a volume of 1118631 shares. The stock had previously closed at $60.75.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CNC. Oppenheimer reduced their target price on Centene from $110.00 to $95.00 and set an “outperform” rating for the company in a report on Monday, July 29th. TD Cowen upped their target price on shares of Centene from $80.00 to $89.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Stephens reissued an “equal weight” rating and issued a $78.00 price target on shares of Centene in a report on Monday, August 5th. Barclays decreased their price target on shares of Centene from $97.00 to $91.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. Finally, StockNews.com lowered Centene from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 28th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Centene currently has an average rating of “Moderate Buy” and an average price target of $83.92.

Centene Stock Performance

The firm has a market cap of $29.30 billion, a PE ratio of 10.08, a price-to-earnings-growth ratio of 0.80 and a beta of 0.49. The company has a 50 day simple moving average of $68.91 and a 200-day simple moving average of $71.30. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.10 and a quick ratio of 1.10.

Insiders Place Their Bets

In related news, CEO Sarah London acquired 4,117 shares of the stock in a transaction on Friday, November 8th. The stock was purchased at an average price of $60.80 per share, for a total transaction of $250,313.60. Following the completion of the transaction, the chief executive officer now owns 667,229 shares of the company’s stock, valued at $40,567,523.20. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Sarah London acquired 4,117 shares of the stock in a transaction dated 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 completion of the purchase, the chief executive officer now owns 667,229 shares in the company, valued at approximately $40,567,523.20. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Andrew Lynn Asher acquired 17,200 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was acquired at an average price of $58.14 per share, with a total value of $1,000,008.00. Following the acquisition, the chief financial officer now owns 486,847 shares in the company, valued at approximately $28,305,284.58. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.33% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Centene

Institutional investors have recently bought and sold shares of the stock. Park Place Capital Corp grew its holdings in shares of Centene by 1,190.0% during the 3rd quarter. Park Place Capital Corp now owns 387 shares of the company’s stock worth $29,000 after acquiring an additional 357 shares during the period. WR Wealth Planners LLC lifted its position in Centene by 41.4% during the second 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 purchased a new stake in shares of Centene in the 2nd quarter worth about $33,000. Riverview Trust Co increased 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 worth $35,000 after acquiring an additional 320 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in Centene during the second quarter worth about $36,000. 93.63% of the stock is owned by institutional investors.

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.