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

Centene (NYSE:CNC) had its target price cut by investment analysts at Truist Financial from $89.00 to $84.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price target would suggest a potential upside of 42.32% from the stock’s previous close.

Several other research analysts also recently commented on CNC. UBS Group raised shares of Centene from a “neutral” rating to a “buy” rating and raised their price target for the company from $79.00 to $80.00 in a report on Friday. Oppenheimer reduced their target price on Centene from $95.00 to $85.00 and set an “outperform” rating for the company in a research report on Friday. Wells Fargo & Company dropped their price target on Centene from $91.00 to $90.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Sanford C. Bernstein decreased their price objective on shares of Centene from $96.00 to $88.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Finally, StockNews.com cut shares of Centene from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Centene presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.69.

Centene Price Performance

CNC stock traded up $1.02 during mid-day trading on Friday, reaching $59.02. 586,211 shares of the company traded hands, compared to its average volume of 4,071,592. Centene has a 52-week low of $55.03 and a 52-week high of $81.42. The company has a market capitalization of $29.80 billion, a P/E ratio of 10.24, a P/E/G ratio of 0.78 and a beta of 0.46. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.10 and a quick ratio of 1.10. The company has a fifty day moving average price of $62.28 and a 200-day moving average price of $68.73.

Insider Activity

In other news, CFO Andrew Lynn Asher purchased 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 transaction, the chief financial officer now directly 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sarah London acquired 4,117 shares of the firm’s 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 transaction, the chief executive officer now directly owns 667,229 shares of the company’s stock, valued at approximately $40,567,523.20. This trade represents a 0.62 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Centene

A number of hedge funds and other institutional investors have recently made changes to their positions in CNC. Park Place Capital Corp increased its position in Centene by 1,190.0% during the 3rd quarter. Park Place Capital Corp now owns 387 shares of the company’s stock valued at $29,000 after purchasing an additional 357 shares during the period. WR Wealth Planners LLC increased its position in shares of 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 bought a new position in Centene in the second quarter worth about $33,000. Crewe Advisors LLC boosted its position in Centene by 174.3% during the 2nd quarter. Crewe Advisors LLC now owns 683 shares of the company’s stock valued at $45,000 after acquiring an additional 434 shares in the last quarter. Finally, Private Trust Co. NA grew its holdings in shares of Centene by 75.3% during the 3rd quarter. Private Trust Co. NA now owns 773 shares of the company’s stock worth $58,000 after acquiring an additional 332 shares during the period. Institutional investors 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.