Centene (NYSE:CNC) Price Target Raised to $93.00 at Barclays

Centene (NYSE:CNC) had its price target hoisted by equities research analysts at Barclays from $91.00 to $93.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 57.57% from the company’s previous close.

CNC has been the topic of a number of other reports. Oppenheimer dropped their price target on Centene from $95.00 to $85.00 and set an “outperform” rating on the stock in a research report on Friday. StockNews.com downgraded shares of Centene from a “strong-buy” rating to a “buy” rating in a report on Monday, October 28th. Truist Financial reduced their target price on shares of Centene from $89.00 to $84.00 and set a “buy” rating for the company in a research note on Friday. UBS Group upgraded Centene from a “neutral” rating to a “buy” rating and raised their target price for the company from $79.00 to $80.00 in a research report on Friday. Finally, Robert W. Baird decreased their target price on shares of Centene from $83.00 to $66.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $81.69.

Centene Stock Up 1.8 %

NYSE CNC traded up $1.02 during trading hours on Friday, reaching $59.02. 586,211 shares of the company traded hands, compared to its average volume of 4,071,592. The company has a 50 day moving average of $62.28 and a two-hundred day moving average of $68.73. The stock has a market capitalization of $29.80 billion, a PE ratio of 10.24, a PEG ratio of 0.78 and a beta of 0.46. Centene has a 12 month low of $55.03 and a 12 month high of $81.42. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.64.

Insider Activity at Centene

In other news, CFO Andrew Lynn Asher acquired 17,200 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were acquired at an average cost of $58.14 per share, with a total value of $1,000,008.00. Following the completion of the purchase, the chief financial officer now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sarah London purchased 4,117 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was acquired at an average price of $60.80 per share, for a total transaction of $250,313.60. Following 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 0.62 % increase in their position. The disclosure for this purchase can be found here. 0.33% of the stock is currently owned by corporate insiders.

Institutional Trading of Centene

Several institutional investors have recently modified their holdings of the business. Vantage Investment Partners LLC increased its stake in Centene by 17.1% in the third quarter. Vantage Investment Partners LLC now owns 683,817 shares of the company’s stock valued at $51,478,000 after purchasing an additional 99,904 shares in the last quarter. State Street Corp increased its position in Centene by 0.5% in the 3rd quarter. State Street Corp now owns 23,468,159 shares of the company’s stock valued at $1,766,683,000 after buying an additional 111,654 shares in the last quarter. National Pension Service boosted its holdings in Centene by 15.4% in the third quarter. National Pension Service now owns 1,435,482 shares of the company’s stock worth $108,063,000 after acquiring an additional 191,768 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in Centene by 31.1% in the third quarter. Daiwa Securities Group Inc. now owns 118,810 shares of the company’s stock valued at $8,944,000 after acquiring an additional 28,175 shares during the period. Finally, Investment Management Corp of Ontario raised its position in shares of Centene by 273.5% during the third quarter. Investment Management Corp of Ontario now owns 44,285 shares of the company’s stock worth $3,334,000 after purchasing an additional 32,428 shares during the period. 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.