Large Outflow of Money Witnessed in Centene Corporation

Centene Corporation (NYSE:CNC) During the most recent session, the shares traded at 0.05 points or 0.07% higher at $67.97. The money flow data is unimpressive with the net money flow value of $(-3) million. As per the intraday data, the upticks measured $21.75 million and the downticks measured $24.75 million. As a result, the up/down ratio registered a value of 0.88. The shares have seen 4.46% price change for the week.A block trade also made an entry with $1.24 million flowing in through upticks while $1.73 million flew out through downticks. The block tradeoff had the up/down ratio of 0.71. The net money flow for this big transaction was $(-0.49) million.


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%. On the companys insider trading activities,The officer (SVP, Chief Information Officer) of Centene Corp, Brooks Mark J sold 3,914 shares at $65.01 on June 6, 2016. The Insider selling transaction had a total value worth of $254,449. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

Centene Corporation (NYSE:CNC) stock ended Monday session in the red zone in a volatile trading. The stock closed down 0.62 points or 0.91% at $67.3 with 2,372,157 shares getting traded. Post opening the session at $67.38, the shares hit an intraday low of $67.27 and an intraday high of $68.52 and the price was in this range throughout the day. The company has a market cap of $11,473 million and the number of outstanding shares have been calculated to be 170,473,020 shares. The 52-week high of Centene Corporation (NYSE:CNC) is $83 and the 52-week low is $47.36.

Many analysts have stated their opinion on the company shares. Major Brokerage house, Stifel Nicolaus upgrades its ratings on Centene Corporation (NYSE:CNC). According to the latest information available, the shares are now rated Buy by the analysts at the agency. Previously, the analysts had a Hold rating on the shares. The rating by the firm was issued on May 26, 2016.

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.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.