Large Outflow of Money Witnessed in Centene Corporation

Centene Corporation (CNC): The stock had negative money flow to the tune of ($4.29 million) on Friday, which shows that the traders are selling the stock on the price strength. The inflow of money on upticks was $20.75 million, whereas, the outflow of money on downticks was $25.04 million and the ratio between the two was 0.83. The block trade had a negative net money flow of ($4.27 million). On the other hand, downticks amounted to $4.27 million of the traded value, which shows distribution in the stock by traders. Centene Corporation (CNC) closed with marginal gains of 239 cents to end the day at $75.39, an increase of 3.27% over the previous days close. The stock recorded 5.69% for the week.


Centene Corporation (CNC) : 13 investment research analysts covering Centene Corporation (CNC) have an average price target of $84.92 for the near short term. The highest target price given by the Brokerage Firm to the stock is $93 and the lowest target is $75 for the short term. Analysts expect the variance to be within $5.62 of the average price.

Centene Corporation (NYSE:CNC): stock turned positive on Friday. Though the stock opened at $73.64, the bulls momentum made the stock top out at $75.57 level for the day. The stock recorded a low of $73.42 and closed the trading day at $75.39, in the green by 3.27%. The total traded volume for the day was 1,747,267. The stock had closed at $73 in the previous days trading.

In a related news, Baldwin Kenneth Rone, officer (EVP, Markets) of Centene Corp, unloaded 6,000 shares at an average price of $71 on July 1, 2016. The total amount of the transaction was worth $426,000, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.

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.

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