Centene Corporation (NYSE:CNC) has tumbled 1.34% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 17.07% in the last four weeks. The stocks have underperformed the S&P 500 by 0.16% during the past week but Centene Corporation (NYSE:CNC) it has outperformed the index in 4 weeks by 16%.
Centene Corporation (NYSE:CNC): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $67.00 and $66.30 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $67.04. The buying momentum continued till the end and the stock did not give up its gains. It closed at $67.01, notching a gain of 0.10% for the day. The total traded volume was 2,328,422 . The stock had closed at $66.94 on the previous day.
The company shares have dropped -16.58% from its 1 Year high price. On Jul 2, 2015, the shares registered one year high at $83.00 and the one year low was seen on Feb 9, 2016. The 50-Day Moving Average price is $62.05 and the 200 Day Moving Average price is recorded at $60.78.
On the companys insider trading activities, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (SVP, Chief Information Officer) of Centene Corp, Brooks Mark J had sold 3,914 shares worth of $254,449 in a transaction dated June 6, 2016. In this transaction, 3,914 shares were sold at $65.01 per share.
Many analysts have stated their opinion on the company shares. Bernstein initiates coverage on Centene Corporation (NYSE:CNC).The analysts at the brokerage house have a current rating of Market Perform on the shares. The rating by the firm was issued on June 16, 2016. Currently the company Insiders own 4.5% of Centene Corporation shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -5.1% . Institutional Investors own 93.87% of Centene Corporation shares. During last six month period, the net percent change held by insiders has seen a change of -9.54%.
Centene Corporation is a healthcare company. The Company provides programs and services to Government sponsored healthcare programs. It 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 healthcare services. The Company operates in two segments: Managed Care and Specialty Services. The Managed Care segment provides health plan coverage to individuals through Government subsidized programs, including Medicaid, the State Childrens Health Insurance Program (CHIP), Long Term Care (LTC), Foster Care, dual-eligible individuals (Duals) and the Supplemental Security Income Program, also known as the Aged, Blind or Disabled Program (ABD). The Specialty Services segment consists of the Companys specialty companies offering auxiliary healthcare services and products.