Insider Buying: Centene Co. (NYSE:CNC) Director Acquires 5,000 Shares of Stock

Centene Co. (NYSE:CNC) Director Theodore R. Samuels II bought 5,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were acquired at an average cost of $58.86 per share, with a total value of $294,300.00. Following the completion of the transaction, the director now owns 23,000 shares of the company’s stock, valued at $1,353,780. This represents a 27.78 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link.

Centene Stock Down 2.3 %

Shares of Centene stock traded down $1.37 on Tuesday, reaching $57.81. The company’s stock had a trading volume of 7,270,655 shares, compared to its average volume of 4,120,537. The company has a market capitalization of $29.18 billion, a price-to-earnings ratio of 10.04, a P/E/G ratio of 0.78 and a beta of 0.46. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.64. Centene Co. has a 52 week low of $55.03 and a 52 week high of $81.42. The firm’s fifty day simple moving average is $61.51 and its two-hundred day simple moving average is $68.41.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CNC shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 price objective on shares of Centene in a research note on Wednesday, December 11th. Barclays increased their target price on shares of Centene from $91.00 to $93.00 and gave the company an “overweight” rating in a report on Friday. Truist Financial decreased their price target on Centene from $89.00 to $84.00 and set a “buy” rating for the company in a research report on Friday. Wells Fargo & Company cut their price objective on Centene from $91.00 to $90.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Finally, Oppenheimer lowered their target price on Centene from $95.00 to $85.00 and set an “outperform” rating on the stock in a research note on Friday. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Centene has a consensus rating of “Moderate Buy” and a consensus target price of $80.92.

Institutional Investors Weigh In On Centene

A number of hedge funds have recently added to or reduced their stakes in the stock. Harris Associates L P increased its stake in shares of Centene by 5.7% in the 3rd quarter. Harris Associates L P now owns 26,314,183 shares of the company’s stock worth $1,980,932,000 after purchasing an additional 1,420,825 shares in the last quarter. AQR Capital Management LLC increased its position in Centene by 22.9% in the second quarter. AQR Capital Management LLC now owns 4,461,517 shares of the company’s stock worth $295,799,000 after buying an additional 832,318 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Centene by 14.2% in the second quarter. Legal & General Group Plc now owns 5,113,759 shares of the company’s stock worth $339,042,000 after buying an additional 636,683 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its position in shares of Centene by 15.4% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 3,203,049 shares of the company’s stock valued at $241,126,000 after buying an additional 428,100 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ grew its stake in shares of Centene by 42.3% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 1,400,276 shares of the company’s stock valued at $92,838,000 after acquiring an additional 416,003 shares during the period. 93.63% of the stock is currently owned by hedge funds and other 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.