Andrew Lynn Asher Buys 17,200 Shares of Centene Co. (NYSE:CNC) Stock

Centene Co. (NYSE:CNC) CFO Andrew Lynn Asher purchased 17,200 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 486,847 shares in the company, valued at $28,305,284.58. This trade represents a 3.66 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Centene Trading Up 1.1 %

NYSE:CNC opened at $58.69 on Friday. Centene Co. has a 12-month low of $57.56 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. The stock’s 50 day simple moving average is $68.61 and its 200-day simple moving average is $71.21. The firm has a market cap of $29.63 billion, a P/E ratio of 10.19, a PEG ratio of 0.80 and a beta of 0.49.

Analysts Set New Price Targets

CNC has been the topic of several recent research reports. StockNews.com downgraded Centene from a “strong-buy” rating to a “buy” rating in a report on Monday, October 28th. Stephens reiterated an “equal weight” rating and set a $78.00 price target on shares of Centene in a report on Monday, August 5th. Oppenheimer reduced their price objective on shares of Centene from $110.00 to $95.00 and set an “outperform” rating on the stock in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Centene from $82.00 to $87.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Finally, TD Cowen raised their price target on Centene from $80.00 to $89.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $83.92.

Hedge Funds Weigh In On Centene

A number of large investors have recently bought and sold shares of CNC. EP Wealth Advisors LLC raised its holdings in Centene by 1.0% during the first quarter. EP Wealth Advisors LLC now owns 13,604 shares of the company’s stock worth $1,068,000 after purchasing an additional 133 shares in the last quarter. WR Wealth Planners LLC lifted its holdings in shares of Centene by 41.4% in the 2nd 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. Whittier Trust Co. grew its holdings in Centene by 10.0% during the second quarter. Whittier Trust Co. now owns 1,562 shares of the company’s stock worth $104,000 after acquiring an additional 142 shares during the period. Mount Yale Investment Advisors LLC raised its position in Centene by 2.1% in the third quarter. Mount Yale Investment Advisors LLC now owns 8,082 shares of the company’s stock worth $608,000 after acquiring an additional 167 shares in the last quarter. Finally, Bleakley Financial Group LLC grew its stake in shares of Centene by 2.4% during the 1st quarter. Bleakley Financial Group LLC now owns 7,287 shares of the company’s stock worth $572,000 after purchasing an additional 173 shares during the period. Hedge funds and other 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.