Investors Purchase High Volume of Centene Call Options (NYSE:CNC)

Centene Co. (NYSE:CNC) saw some unusual options trading activity on Tuesday. Investors purchased 17,741 call options on the stock. This represents an increase of 92% compared to the typical volume of 9,244 call options.

Centene Stock Performance

Shares of NYSE CNC opened at $64.81 on Wednesday. The company has a market cap of $32.72 billion, a P/E ratio of 11.25, a P/E/G ratio of 0.87 and a beta of 0.49. Centene has a 52-week low of $59.77 and a 52-week high of $81.42. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.10 and a current ratio of 1.10. The firm’s fifty day moving average is $70.71 and its two-hundred day moving average is $71.82.

Wall Street Analysts Forecast Growth

CNC has been the topic of several recent research reports. Sanford C. Bernstein decreased their price target on shares of Centene from $96.00 to $88.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Stephens reaffirmed an “equal weight” rating and issued a $78.00 target price on shares of Centene in a report on Monday, August 5th. Wells Fargo & Company cut their price target on Centene from $91.00 to $90.00 and set an “overweight” rating for the company in a report on Monday. Oppenheimer decreased their price objective on Centene from $110.00 to $95.00 and set an “outperform” rating on the stock in a research note on Monday, July 29th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $90.00 price objective on shares of Centene in a research note on Tuesday, October 1st. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $83.92.

Institutional Investors Weigh In On Centene

Large investors have recently made changes to their positions in the company. EP Wealth Advisors LLC raised its holdings in shares of Centene by 1.0% during the 1st quarter. EP Wealth Advisors LLC now owns 13,604 shares of the company’s stock worth $1,068,000 after acquiring an additional 133 shares in the last quarter. WR Wealth Planners LLC lifted its position in Centene by 41.4% during the second quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock valued at $31,000 after purchasing an additional 137 shares during the last quarter. Whittier Trust Co. grew its stake in shares of Centene by 10.0% in the 2nd quarter. Whittier Trust Co. now owns 1,562 shares of the company’s stock worth $104,000 after buying an additional 142 shares in the last quarter. Mount Yale Investment Advisors LLC increased its holdings in shares of Centene by 2.1% in the 3rd quarter. Mount Yale Investment Advisors LLC now owns 8,082 shares of the company’s stock worth $608,000 after buying an additional 167 shares during the last quarter. Finally, Bleakley Financial Group LLC raised its position in shares of Centene by 2.4% during the 1st quarter. Bleakley Financial Group LLC now owns 7,287 shares of the company’s stock valued at $572,000 after buying an additional 173 shares in the last quarter. 93.63% of the stock is owned by institutional investors.

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.