Centene (NYSE:CNC) Given New $93.00 Price Target at Barclays

Centene (NYSE:CNC) had its price objective upped by Barclays from $91.00 to $93.00 in a research note issued to investors on Friday,Benzinga reports. Barclays currently has an overweight rating on the stock.

Other research analysts have also issued reports about the company. Truist Financial cut their price target on Centene from $89.00 to $84.00 and set a “buy” rating for the company in a report on Friday. Wells Fargo & Company cut their target price on shares of Centene from $91.00 to $90.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. StockNews.com lowered shares of Centene from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 28th. Sanford C. Bernstein cut their price objective on shares of Centene from $96.00 to $88.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Finally, Jefferies Financial Group downgraded Centene from a “hold” rating to an “underperform” rating and decreased their target price for the stock from $68.00 to $52.00 in a research report on Tuesday. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $81.31.

Centene Trading Up 2.4 %

Shares of NYSE:CNC opened at $59.41 on Friday. Centene has a 52-week low of $55.03 and a 52-week high of $81.42. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.10 and a current ratio of 1.10. The company has a market cap of $29.99 billion, a P/E ratio of 10.31, a P/E/G ratio of 0.78 and a beta of 0.46. The stock’s 50-day moving average is $62.02 and its 200-day moving average is $68.62.

Insider Activity

In other Centene news, CFO Andrew Lynn Asher purchased 17,200 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was 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 in the company, 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 bought 4,117 shares of the company’s stock in a transaction on Friday, November 8th. The shares were acquired at an average price of $60.80 per share, with a total value of $250,313.60. Following the transaction, the chief executive officer now directly 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.

Hedge Funds Weigh In On Centene

Several hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its stake in Centene by 47.9% during the 2nd quarter. Blue Trust Inc. now owns 4,716 shares of the company’s stock worth $313,000 after acquiring an additional 1,527 shares during the last quarter. Grove Bank & Trust increased its stake in shares of Centene by 17.9% during the 2nd quarter. Grove Bank & Trust now owns 8,602 shares of the company’s stock worth $570,000 after purchasing an additional 1,307 shares during the last quarter. Independence Bank of Kentucky raised its holdings in shares of Centene by 459.2% in the 2nd quarter. Independence Bank of Kentucky now owns 1,096 shares of the company’s stock valued at $73,000 after purchasing an additional 900 shares during the period. Cypress Capital Group increased its stake in shares of Centene by 192.8% during the second quarter. Cypress Capital Group now owns 13,610 shares of the company’s stock worth $902,000 after purchasing an additional 8,962 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Centene by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,491,968 shares of the company’s stock worth $364,117,000 after buying an additional 25,595 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.