Centene (NYSE:CNC) Shares Down 4.3%

Centene Co. (NYSE:CNC)’s stock price was down 4.3% during mid-day trading on Friday . The stock traded as low as $71.25 and last traded at $72.44. Approximately 1,528,776 shares traded hands during trading, a decline of 50% from the average daily volume of 3,030,802 shares. The stock had previously closed at $75.68.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CNC shares. Stephens restated an “equal weight” rating and set a $85.00 target price (down previously from $92.00) on shares of Centene in a research report on Thursday, March 21st. Wells Fargo & Company lifted their price target on shares of Centene from $89.00 to $93.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $90.00 price target on shares of Centene in a research note on Thursday, April 4th. Barclays assumed coverage on shares of Centene in a research note on Wednesday, March 6th. They set an “overweight” rating and a $101.00 price target for the company. Finally, StockNews.com downgraded shares of Centene from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 28th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $85.25.

Centene Stock Down 2.2 %

The company has a debt-to-equity ratio of 0.68, a current ratio of 1.11 and a quick ratio of 1.11. The business’s fifty day moving average price is $76.32 and its two-hundred day moving average price is $74.80. The stock has a market capitalization of $39.58 billion, a PE ratio of 15.07, a price-to-earnings-growth ratio of 0.94 and a beta of 0.38.

Centene (NYSE:CNC) last posted its quarterly earnings results on Friday, April 26th. The company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.09 by $0.17. The firm had revenue of $40.41 billion during the quarter, compared to analysts’ expectations of $36.43 billion. Centene had a return on equity of 14.26% and a net margin of 1.75%. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the firm earned $2.11 earnings per share. On average, equities research analysts forecast that Centene Co. will post 6.75 EPS for the current fiscal year.

Insider Transactions at Centene

In related news, Director Lori Jean Robinson sold 10,000 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $77.41, for a total value of $774,100.00. Following the completion of the sale, the director now owns 11,455 shares of the company’s stock, valued at $886,731.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Centene news, President Kenneth J. Fasola sold 12,000 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $75.07, for a total value of $900,840.00. Following the transaction, the president now directly owns 235,365 shares in the company, valued at approximately $17,668,850.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lori Jean Robinson sold 10,000 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $77.41, for a total transaction of $774,100.00. Following the completion of the transaction, the director now owns 11,455 shares in the company, valued at $886,731.55. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Centene

Several large investors have recently made changes to their positions in the stock. Caprock Group LLC increased its stake in Centene by 16.9% during the 3rd quarter. Caprock Group LLC now owns 4,738 shares of the company’s stock worth $326,000 after buying an additional 684 shares during the period. Handelsbanken Fonder AB increased its stake in Centene by 6.2% during the 3rd quarter. Handelsbanken Fonder AB now owns 243,087 shares of the company’s stock worth $16,744,000 after buying an additional 14,209 shares during the period. Simplicity Solutions LLC increased its stake in Centene by 43.2% during the 3rd quarter. Simplicity Solutions LLC now owns 13,239 shares of the company’s stock worth $912,000 after buying an additional 3,995 shares during the period. Clarius Group LLC increased its position in shares of Centene by 4.5% in the 3rd quarter. Clarius Group LLC now owns 4,327 shares of the company’s stock valued at $298,000 after purchasing an additional 187 shares during the last quarter. Finally, Ellsworth Advisors LLC purchased a new stake in shares of Centene in the 3rd quarter valued at approximately $4,402,000. 93.63% of the stock is currently owned by institutional investors and hedge funds.

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.