Centene (NYSE:CNC) Lowered to “Underperform” Rating by Jefferies Financial Group

Jefferies Financial Group cut shares of Centene (NYSE:CNC) from a hold rating to an underperform rating in a research report released on Tuesday morning, Marketbeat.com reports. Jefferies Financial Group currently has $52.00 target price on the stock, down from their prior target price of $68.00.

Other analysts also recently issued research reports about the stock. Barclays reduced their target price on shares of Centene from $97.00 to $91.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $90.00 target price on shares of Centene in a research note on Tuesday, October 1st. StockNews.com downgraded shares of Centene from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 28th. Robert W. Baird reduced their target price 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, Wells Fargo & Company reduced 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. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $82.62.

Centene Stock Down 3.0 %

CNC opened at $56.71 on Tuesday. 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’s 50-day moving average is $63.22 and its 200 day moving average is $69.01. Centene has a fifty-two week low of $55.03 and a fifty-two week high of $81.42. The firm has a market capitalization of $28.63 billion, a P/E ratio of 9.85, a PEG ratio of 0.78 and a beta of 0.46.

Insider Transactions at Centene

In other news, CFO Andrew Lynn Asher bought 17,200 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were bought 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 $28,305,284.58. This represents a 3.66 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sarah London bought 4,117 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was purchased at an average cost of $60.80 per share, for a total transaction of $250,313.60. Following the completion of the purchase, the chief executive officer now owns 667,229 shares of the company’s stock, valued at $40,567,523.20. This trade represents a 0.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.29% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. 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 Centene by 41.4% during the 2nd quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock valued at $31,000 after purchasing an additional 137 shares during the period. Chris Bulman Inc purchased a new position in Centene during the 2nd quarter valued at $33,000. Crewe Advisors LLC grew its position in shares of Centene by 174.3% in the 2nd quarter. Crewe Advisors LLC now owns 683 shares of the company’s stock worth $45,000 after buying an additional 434 shares during the period. Finally, Private Trust Co. NA grew its position in shares of Centene by 75.3% in the 3rd 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. 93.63% of the stock is owned by hedge funds and other institutional investors.

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.