Centene (NYSE:CNC) Given New $84.00 Price Target at Truist Financial

Centene (NYSE:CNC) had its target price reduced by Truist Financial from $89.00 to $84.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

Other analysts also recently issued research reports about the stock. Oppenheimer lowered their target price on shares of Centene from $95.00 to $85.00 and set an “outperform” rating for the company in a report on Friday. Wells Fargo & Company dropped their price target on shares of Centene from $91.00 to $90.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. StockNews.com cut shares of Centene from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 28th. Robert W. Baird cut their price target on shares of Centene from $83.00 to $66.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Finally, Barclays lowered their target price on Centene from $97.00 to $91.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Centene has a consensus rating of “Moderate Buy” and a consensus price target of $81.31.

Centene Stock Performance

CNC stock opened at $59.41 on Friday. The firm has a market cap of $29.99 billion, a PE ratio of 10.31, a price-to-earnings-growth ratio of 0.78 and a beta of 0.46. Centene has a 1-year low of $55.03 and a 1-year 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. The stock has a 50-day moving average price of $62.02 and a 200-day moving average price of $68.62.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Centene

Large investors have recently modified their holdings of the business. Park Place Capital Corp grew its stake in shares of Centene by 1,190.0% in the third quarter. Park Place Capital Corp now owns 387 shares of the company’s stock worth $29,000 after acquiring an additional 357 shares in the last quarter. WR Wealth Planners LLC raised its stake in shares of Centene by 41.4% during the second 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 last quarter. Chris Bulman Inc acquired a new stake in Centene in the second quarter valued at about $33,000. Crewe Advisors LLC grew its holdings in Centene by 174.3% during the second quarter. Crewe Advisors LLC now owns 683 shares of the company’s stock worth $45,000 after acquiring an additional 434 shares during the period. Finally, Private Trust Co. NA grew its position in Centene by 75.3% during the third quarter. Private Trust Co. NA now owns 773 shares of the company’s stock worth $58,000 after buying 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.