Centene Sees Unusually High Options Volume (NYSE:CNC)

Centene Corporation (NYSE:CNC - Get Free Report) was the target of unusually large options trading on Thursday. Stock investors purchased 18,448 call options on the company. This is an increase of approximately 206% compared to the typical daily volume of 6,033 call options.

Institutional Investors Weigh In On Centene

Large investors have recently modified their holdings of the stock. Pinney & Scofield Inc. bought a new stake in Centene during the 4th quarter valued at approximately $25,000. Hurley Capital LLC bought a new stake in shares of Centene during the fourth quarter valued at approximately $26,000. Ameriflex Group Inc. purchased a new stake in Centene in the fourth quarter worth $26,000. Quarry LP purchased a new position in Centene during the first quarter valued at $26,000. Finally, Rialto Wealth Management LLC bought a new stake in shares of Centene during the 4th quarter valued at $30,000. Institutional investors own 93.63% of the company's stock.

Centene Trading Down 1.5%

NYSE:CNC traded down $0.51 during midday trading on Thursday, reaching $33.28. 33,741,422 shares of the stock traded hands, compared to its average volume of 5,446,665. The stock has a market capitalization of $16.56 billion, a P/E ratio of 4.96, a PEG ratio of 0.40 and a beta of 0.44. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.11 and a current ratio of 1.11. The company has a fifty day moving average of $56.98 and a 200 day moving average of $59.39. Centene has a 12 month low of $33.12 and a 12 month high of $80.59.

Centene (NYSE:CNC - Get Free Report) last posted its earnings results on Friday, April 25th. The company reported $2.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.52 by $0.38. Centene had a return on equity of 14.56% and a net margin of 2.04%. The company had revenue of $46.62 billion for the quarter, compared to analysts' expectations of $43.16 billion. During the same period last year, the firm earned $2.26 earnings per share. Centene's quarterly revenue was up 15.4% on a year-over-year basis. On average, research analysts predict that Centene will post 6.86 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Robert W. Baird reduced their target price on Centene from $71.00 to $69.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Cantor Fitzgerald reduced their price objective on shares of Centene from $90.00 to $65.00 and set an "overweight" rating for the company in a research note on Wednesday. Bank of America cut their price target on shares of Centene from $65.00 to $52.00 and set a "neutral" rating for the company in a report on Wednesday. UBS Group reaffirmed a "neutral" rating and issued a $45.00 price target (down previously from $80.00) on shares of Centene in a report on Wednesday. Finally, Guggenheim reissued a "neutral" rating on shares of Centene in a research note on Tuesday, April 29th. Ten research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, Centene presently has an average rating of "Hold" and an average price target of $68.87.

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.