The stock of Centene Corp (NYSE:CNC) is a huge mover today! About 3.60 million shares traded hands or 76.47% up from the average. Centene Corp (NYSE:CNC) has declined 13.65% since April 13, 2016 and is downtrending. It has underperformed by 17.57% the S&P500.
The move comes after 6 months positive chart setup for the $9.60B company. It was reported on Nov, 15 by Barchart.com. We have $82.82 PT which if reached, will make NYSE:CNC worth $4.80B more.
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 18 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The stock has “Sell” rating given by Goldman Sachs on Wednesday, July 22. UBS upgraded the stock to “Buy” rating in Monday, July 27 report. The stock has “Outperform” rating given by Bernstein on Monday, November 14. Credit Suisse initiated Centene Corp (NYSE:CNC) on Wednesday, December 16 with “Outperform” rating. The company was downgraded on Tuesday, September 6 by Leerink Swann. The stock has “Buy” rating given by Evercore on Friday, September 23. The rating was maintained by Barclays Capital with “Equal-Weight” on Wednesday, January 6. The firm earned “Neutral” rating on Friday, November 11 by Credit Suisse. The firm earned “Market Perform” rating on Thursday, June 16 by Bernstein. The firm has “Buy” rating by Jefferies given on Wednesday, July 27.
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 worsened, 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.
Nuveen Asset Mngmt Ltd has 0.17% invested in the company for 378,669 shares. United Automobile Association reported 157,358 shares or 0.04% of all its holdings. The Maine-based Schroder Invest Mngmt has invested 0.12% in Centene Corp (NYSE:CNC). California Public Employees Retirement Sys holds 0.04% of its portfolio in Centene Corp (NYSE:CNC) for 349,970 shares. Morgens Waterfall Vintiadis & Communications Incorporated holds 32,000 shares or 2.11% of its portfolio. Genesee Valley holds 3,595 shares or 0.17% of its portfolio. Moreover, Fulton Natl Bank Na has 0.12% invested in Centene Corp (NYSE:CNC) for 17,160 shares. Dekabank Deutsche Girozentrale owns 166,718 shares or 0.13% of their US portfolio. Globeflex Lp last reported 19,946 shares in the company. Royal London Asset Limited reported 47,567 shares or 0.06% of all its holdings. Honeywell Inc has 0.24% invested in the company for 134,300 shares. Oakbrook has invested 0.07% of its portfolio in Centene Corp (NYSE:CNC). New Mexico Educational Retirement Board holds 0.06% or 19,900 shares in its portfolio. Cue Finance Grp Inc has 20,870 shares for 1.28% of their US portfolio. State Bank Of Montreal Can holds 0.01% or 126,424 shares in its portfolio.
Insider Transactions: Since June 6, 2016, the stock had 1 buy, and 6 sales for $3.15 million net activity. GEPHARDT Richard A also sold $1.10 million worth of Centene Corp (NYSE:CNC) on Tuesday, June 28. $663,600 worth of Centene Corp (NYSE:CNC) shares were sold by GOLDMAN CAROL. On Monday, November 7 Hunter Jesse N sold $325,000 worth of the stock or 5,000 shares. $399,480 worth of shares were sold by Baldwin Kenneth Rone on Monday, October 3. Shares for $254,449 were sold by BROOKS MARK J on Monday, June 6. 150 Centene Corp (NYSE:CNC) shares with value of $10,050 were bought by DITMORE ROBERT K.
More notable recent Centene Corp (NYSE:CNC) news were published by: Businesswire.com which released: “Glancy Prongay & Murray LLP Files Securities Class Action Lawsuit against …” on November 15, 2016, also Prnewswire.com with their article: “Centene Corporation To Present At Credit Suisse And Stifel Healthcare …” published on October 31, 2016, Forbes.com published: “Despite Obamacare Woes, Centene Grows From Medicaid Expansion” on October 25, 2016. More interesting news about Centene Corp (NYSE:CNC) were released by: Investorplace.com and their article: “Why Coty Inc (COTY), Centene Corp (CNC) and Cemex SAB de CV (ADR) (CX) Are 3 …” published on November 09, 2016 as well as Prnewswire.com‘s news article titled: “Centene Corporation Announces Successful Award Of Expanded, Statewide Managed …” with publication date: October 18, 2016.
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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