It Seems Centene Corporation (CNC) Will Go Up. Formed A Few Months Double Top Chart Pattern

April 24, 2018 - By Marguerite Chambers

Centene Corporation (NYSE:CNC) Logo

Investors sentiment increased to 1.19 in 2017 Q4. Its up 0.12, from 1.07 in 2017Q3. It increased, as 35 investors sold Centene Corporation shares while 186 reduced holdings. 85 funds opened positions while 177 raised stakes. 150.93 million shares or 0.26% more from 150.53 million shares in 2017Q3 were reported.
Gulf Intll Retail Bank (Uk) Limited, a United Kingdom-based fund reported 51,917 shares. Aperio Group Ltd Com has invested 0.05% of its portfolio in Centene Corporation (NYSE:CNC). Tiaa Cref Invest Mgmt Lc has invested 0.1% of its portfolio in Centene Corporation (NYSE:CNC). Public Employees Retirement Association Of Colorado accumulated 34,496 shares. Glenmede Communication Na holds 297,712 shares. Retail Bank Of Montreal Can holds 614,186 shares. Kentucky Retirement Fund owns 0.08% invested in Centene Corporation (NYSE:CNC) for 4,580 shares. Raymond James Tru Na invested in 0.03% or 3,928 shares. Connable Office owns 3,113 shares for 0.06% of their portfolio. Sterling Mgmt Ltd Llc stated it has 0.01% in Centene Corporation (NYSE:CNC). Rampart Inv Commerce Lc owns 2,145 shares for 0.08% of their portfolio. Amer Century Cos holds 0% or 8,944 shares. Moreover, Rudman Errol M has 6.39% invested in Centene Corporation (NYSE:CNC) for 130,700 shares. National Bank Of Hawaii invested in 3,905 shares or 0.03% of the stock. Meritage Portfolio Mngmt, a Kansas-based fund reported 68,332 shares.

Since October 26, 2017, it had 0 insider buys, and 4 sales for $2.82 million activity. Another trade for 4,800 shares valued at $490,896 was sold by BOWERS CHRISTOPHER D. BROOKS MARK J had sold 4,165 shares worth $425,955. Hunter Jesse N had sold 10,000 shares worth $987,300 on Tuesday, December 19.

The chart of Centene Corporation (CNC) shows a double top with $113.09 target or 4.00 % above today’s $108.74 share price. The 9 months chart pattern indicates low risk for the $19.22 billion company. It was reported on Apr, 24 by Finviz.com. If the $113.09 price target is reached, the company will be worth $768.84M more. Double tops are rare but powerful chart patterns.

The stock decreased 1.66% or $1.83 during the last trading session, reaching $108.74. About 1.10M shares traded. Centene Corporation (NYSE:CNC) has risen 44.01% since April 24, 2017 and is uptrending. It has outperformed by 32.46% the S&P500.

Centene Corporation (NYSE:CNC) Ratings Coverage

Among 9 analysts covering Centene (NYSE:CNC), 7 have Buy rating, 0 Sell and 2 Hold. Therefore 78% are positive. Centene has $135 highest and $100 lowest target. $119.71’s average target is 10.09% above currents $108.74 stock price. Centene had 14 analyst reports since October 25, 2017 according to SRatingsIntel. The firm earned “Buy” rating on Monday, December 18 by Jefferies. The rating was maintained by Leerink Swann on Tuesday, February 13 with “Market Perform”. The stock of Centene Corporation (NYSE:CNC) has “Buy” rating given on Thursday, December 14 by Cantor Fitzgerald. The rating was maintained by Cantor Fitzgerald with “Buy” on Tuesday, February 6. The stock of Centene Corporation (NYSE:CNC) earned “Buy” rating by Jefferies on Tuesday, February 6. The rating was maintained by Cantor Fitzgerald with “Buy” on Thursday, March 15. The stock of Centene Corporation (NYSE:CNC) earned “Hold” rating by Credit Suisse on Friday, November 3. The stock of Centene Corporation (NYSE:CNC) earned “Outperform” rating by Oppenheimer on Wednesday, October 25. Credit Suisse maintained Centene Corporation (NYSE:CNC) rating on Wednesday, February 7. Credit Suisse has “Neutral” rating and $112 target. The firm earned “Overweight” rating on Wednesday, February 7 by Morgan Stanley.

Centene Corporation (NYSE:CNC) Institutional Positions Chart

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