Price Action Report: Centene Corp’s Stock Is Sell After Today’s Huge Decline

Price Action Report: Centene Corp's Stock Is Sell After Today's Huge Decline

The stock of Centene Corp (NYSE:CNC) is a huge mover today! The stock decreased 5.45% or $3.65 during the last trading session, hitting $63.31. About 3.14M shares traded hands or 168.38% up from the average. Centene Corp (NYSE:CNC) has risen 17.56% since February 29, 2016 and is uptrending. It has outperformed by 5.34% the S&P500.
The move comes after 6 months negative chart setup for the $10.70 billion company. It was reported on Oct, 4 by We have $59.51 PT which if reached, will make NYSE:CNC worth $642.00M less.

Analysts await Centene Corp (NYSE:CNC) to report earnings on October, 25 before the open. They expect $1.17 earnings per share, up 39.29% or $0.33 from last year’s $0.84 per share. CNC’s profit will be $197.74M for 13.53 P/E if the $1.17 EPS becomes a reality. After $1.29 actual earnings per share reported by Centene Corp for the previous quarter, Wall Street now forecasts -9.30% negative EPS growth.

Centene Corp (NYSE:CNC) Ratings Coverage

Out of 12 analysts covering Centene Corporation (NYSE:CNC), 9 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 75% are positive. Centene Corporation has been the topic of 15 analyst reports since July 22, 2015 according to StockzIntelligence Inc. As per Thursday, June 16, the company rating was initiated by Bernstein. On Friday, October 2 the stock rating was initiated by Citigroup with “Buy”. Jefferies maintained Centene Corp (NYSE:CNC) rating on Wednesday, July 27. Jefferies has “Buy” rating and $82 price target. The firm earned “Overweight” rating on Monday, June 20 by Barclays Capital. The rating was maintained by Barclays Capital with “Equal-Weight” on Wednesday, January 6. The firm has “Mkt Perform” rating given on Tuesday, September 6 by Leerink Swann. The firm has “Outperform” rating by Credit Suisse given on Wednesday, December 16. As per Thursday, May 26, the company rating was upgraded by Stifel Nicolaus. Morgan Stanley upgraded Centene Corp (NYSE:CNC) on Wednesday, June 29 to “Overweight” rating. Jefferies maintained Centene Corp (NYSE:CNC) rating on Friday, January 8. Jefferies has “Buy” rating and $80 price target.

According to Zacks Investment Research, “Centene Corporation provides managed care programs and related services to individuals receiving benefits under Medicaid, including Supplemental Security Income, and the State Children’s Health Insurance Program.”

Insitutional Activity: The institutional sentiment decreased to 0.83 in 2016 Q2. Its down 1.08, from 1.91 in 2016Q1. The ratio turned negative, as 77 funds sold all Centene Corp shares owned while 185 reduced positions. 64 funds bought stakes while 154 increased positions. They now own 147.39 million shares or 7.12% less from 158.68 million shares in 2016Q1.
Tcw Grp has 0.01% invested in the company for 12,500 shares. Tributary Ltd Liability Corp has invested 0.43% of its portfolio in Centene Corp (NYSE:CNC). Synovus Finance owns 38,320 shares or 0.06% of their US portfolio. The United Kingdom-based Aberdeen Asset Mgmt Public Ltd Uk has invested 0.01% in Centene Corp (NYSE:CNC). Southernsun Asset Mngmt Limited Liability last reported 6.15% of its portfolio in the stock. The Massachusetts-based Acadian Asset Mngmt Limited Liability Corp has invested 0% in Centene Corp (NYSE:CNC). Lpl Limited Liability Company accumulated 0.03% or 50,093 shares. Gmt Cap Corp accumulated 723,900 shares or 1.25% of the stock. Archford Cap Strategies Lc last reported 0.01% of its portfolio in the stock. Mirae Asset Glob has 22,794 shares for 0.04% of their US portfolio. Price T Rowe Assocs Inc Md holds 0.17% or 11.54 million shares in its portfolio. Parkside Retail Bank Trust accumulated 2,055 shares or 0.07% of the stock. Wells Fargo And Communication Mn accumulated 3.30M shares or 0.09% of the stock. New York State Common Retirement Fund has 907,245 shares for 0.09% of their US portfolio. Earnest Prns Limited Liability Corporation accumulated 1.47% or 1.90M shares.

Insider Transactions: Since April 28, 2016, the stock had 1 insider purchase, and 4 insider sales for $2.42 million net activity. Hunter Jesse N sold $651,700 worth of Centene Corp (NYSE:CNC) on Thursday, April 28. The insider BROOKS MARK J sold 3,914 shares worth $254,449. On Tuesday, June 28 GEPHARDT Richard A sold $1.10 million worth of the stock or 15,910 shares. 6,000 shares were sold by Baldwin Kenneth Rone, worth $426,000 on Friday, July 1. DITMORE ROBERT K also bought $10,050 worth of Centene Corp (NYSE:CNC) on Wednesday, September 7.

More news for Centene Corp (NYSE:CNC) were recently published by:, which released: “SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation …” on September 09, 2016.‘s article titled: “Centene Corporation To Present At BAML Global Healthcare Conference 2016 In London” and published on September 12, 2016 is yet another important article.

CNC Company Profile

Centene Corporation, incorporated on September 26, 2001, is a diversified healthcare firm that provides programs and services to government sponsored healthcare programs. The Firm offers member-focused services by assisting in accessing care, coordinating referrals to related health and social services, and addressing member concerns and questions. It also provides education and outreach programs to inform and assist members in accessing appropriate healthcare services. The Firm operates through two divisions: Managed Care and Specialty Services. The Managed Care segment consists of the Company’s health plans, including all of the functions needed to operate them. The Specialty Services segment consists of the Company’s specialty companies offering auxiliary healthcare services and products.

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