Centene Target of Unusually High Options Trading (NYSE:CNC)

Centene Co. (NYSE:CNC - Get Free Report) was the recipient of unusually large options trading on Tuesday. Stock investors purchased 11,689 put options on the company. This is an increase of 57% compared to the average volume of 7,432 put options.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Jefferies Financial Group raised Centene from an "underperform" rating to a "hold" rating and increased their price objective for the company from $53.00 to $64.00 in a research note on Tuesday, April 8th. Guggenheim began coverage on shares of Centene in a research note on Wednesday, April 9th. They issued a "neutral" rating on the stock. StockNews.com raised Centene from a "buy" rating to a "strong-buy" rating in a research note on Friday, April 11th. Argus cut shares of Centene from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Finally, Robert W. Baird reduced their price target on shares of Centene from $71.00 to $69.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $80.69.

Hedge Funds Weigh In On Centene

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Ameriflex Group Inc. purchased a new stake in shares of Centene in the fourth quarter valued at about $26,000. Pinney & Scofield Inc. acquired a new stake in Centene in the fourth quarter valued at about $25,000. Capital Advisors Ltd. LLC increased its position in Centene by 75.3% during the 4th quarter. Capital Advisors Ltd. LLC now owns 412 shares of the company's stock worth $25,000 after purchasing an additional 177 shares during the period. Hurley Capital LLC purchased a new position in shares of Centene during the 4th quarter worth approximately $26,000. Finally, Rialto Wealth Management LLC acquired a new stake in shares of Centene in the 4th quarter valued at approximately $30,000. 93.63% of the stock is currently owned by hedge funds and other institutional investors.

Centene Stock Performance

Shares of CNC traded down $1.28 during midday trading on Friday, reaching $60.70. 5,758,979 shares of the stock were exchanged, compared to its average volume of 4,702,012. The company has a market capitalization of $30.11 billion, a price-to-earnings ratio of 9.73, a PEG ratio of 0.80 and a beta of 0.53. Centene has a twelve month low of $55.03 and a twelve month high of $80.59. The business's 50-day moving average price is $59.77 and its 200 day moving average price is $61.31. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.11 and a quick ratio of 1.10.

Centene (NYSE:CNC - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.31. Centene had a net margin of 2.03% and a return on equity of 13.85%. The company had revenue of $40.81 billion for the quarter, compared to the consensus estimate of $38.78 billion. During the same period last year, the firm posted $0.45 EPS. Centene's revenue for the quarter was up 3.4% on a year-over-year basis. On average, sell-side analysts expect that Centene will post 6.86 EPS for the current fiscal year.

Centene Company Profile

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.