Centene Corp Could Rise a Lot According to The Today’s Call Option Activity

 Centene Corp Could Rise a Lot According to The Today's Call Option Activity

In today’s session Centene Corp (CNC) registered an unusually high (455) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the November, 2016 call, expecting serious CNC increase. With 455 contracts traded and 1434 open interest for the Nov, 16 contract, it seems this is a quite bullish bet. The option with symbol: CNC161118C00065000 closed last at: $1.8 or 2.9% up. About 141,170 shares traded hands. Centene Corp (NYSE:CNC) has risen 6.01% since March 7, 2016 and is uptrending. It has underperformed by 1.58% the S&P500.

Analysts await Centene Corp (NYSE:CNC) to report earnings on October, 25 before the open. They expect $1.17 earnings per share, up 39.29% or $0.33 from last year’s $0.84 per share. CNC’s profit will be $199.27 million for 13.46 P/E if the $1.17 EPS becomes a reality. After $1.29 actual earnings per share reported by Centene Corp for the previous quarter, Wall Street now forecasts -9.30% negative EPS growth.

Centene Corp (NYSE:CNC) Ratings Coverage

Out of 12 analysts covering Centene Corporation (NYSE:CNC), 9 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 75% are positive. $86 is the highest target while $69 is the lowest. The $78 average target is 23.81% above today’s ($63) stock price. Centene Corporation has been the topic of 16 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The rating was upgraded by Morgan Stanley to “Overweight” on Wednesday, June 29. The rating was downgraded by Leerink Swann on Tuesday, September 6 to “Mkt Perform”. On Wednesday, October 5 the stock rating was maintained by Credit Suisse with “Outperform”. The stock of Centene Corp (NYSE:CNC) has “Buy” rating given on Thursday, May 26 by Stifel Nicolaus. Citigroup initiated the shares of CNC in a report on Friday, October 2 with “Buy” rating. The firm has “Buy” rating given on Friday, September 23 by Evercore. As per Wednesday, December 16, the company rating was initiated by Credit Suisse. Cowen & Co initiated Centene Corp (NYSE:CNC) rating on Monday, April 25. Cowen & Co has “Outperform” rating and $70 price target. UBS upgraded Centene Corp (NYSE:CNC) on Monday, July 27 to “Buy” rating. As per Friday, January 8, the company rating was maintained by Jefferies.

According to Zacks Investment Research, “Centene Corporation provides managed care programs and related services to individuals receiving benefits under Medicaid, including Supplemental Security Income, and the State Children’s Health Insurance Program.”

Insitutional Activity: The institutional sentiment decreased to 0.83 in 2016 Q2. Its down 1.08, from 1.91 in 2016Q1. The ratio worsened, as 77 funds sold all Centene Corp shares owned while 185 reduced positions. 64 funds bought stakes while 154 increased positions. They now own 147.39 million shares or 7.12% less from 158.68 million shares in 2016Q1.
Cornerstone Advisors has invested 0.05% of its portfolio in Centene Corp (NYSE:CNC). Moreover, Arizona State Retirement Systems has 0.04% invested in Centene Corp (NYSE:CNC) for 41,800 shares. State Of New Jersey Common Pension Fund D has 0.01% invested in the company for 15,550 shares. Homrich And Berg has 35,230 shares for 0.24% of their US portfolio. The Norway-based Dnb Asset Mngmt As has invested 0% in Centene Corp (NYSE:CNC). Rfg Advisory Grp Incorporated Limited Liability Co has 5,900 shares for 0.37% of their US portfolio. Fort Ltd Partnership holds 52,537 shares or 1.53% of its portfolio. Aperio Gru Limited Com has 0.02% invested in the company for 41,054 shares. Manufacturers Life Insur Communications The has 168,457 shares for 0.02% of their US portfolio. Zurcher Kantonalbank (Zurich Cantonalbank) last reported 0.13% of its portfolio in the stock. Raymond James & last reported 413,307 shares in the company. Legal & General Group Plc holds 0.06% or 738,041 shares in its portfolio. Bridger Management Limited Liability Corporation last reported 3.5% of its portfolio in the stock. Orinda Asset Management Limited Com, a California-based fund reported 2,967 shares. Plante Moran Advsr Ltd Llc has 0.03% invested in the company for 600 shares.

Insider Transactions: Since April 28, 2016, the stock had 1 buying transaction, and 6 sales for $3.48 million net activity. 3,914 Centene Corp (NYSE:CNC) shares with value of $254,449 were sold by BROOKS MARK J. The insider Hunter Jesse N sold $651,700. Baldwin Kenneth Rone sold $399,480 worth of stock. 15,910 Centene Corp (NYSE:CNC) shares with value of $1.10 million were sold by GEPHARDT Richard A. 150 shares with value of $10,050 were bought by DITMORE ROBERT K on Wednesday, September 7. GOLDMAN CAROL also sold $663,600 worth of Centene Corp (NYSE:CNC) shares.

Centene Corporation is a diversified healthcare firm that provides programs and services to government sponsored healthcare programs. The company has a market cap of $10.73 billion. The Firm also provides education and outreach programs to inform and assist members in accessing appropriate healthcare services. It has a 25.15 P/E ratio. The Firm operates through two divisions.

CNC Company Profile

Centene Corporation, incorporated on September 26, 2001, is a diversified healthcare firm that provides programs and services to government sponsored healthcare programs. The Firm 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 appropriate healthcare services. The Firm operates through two divisions: Managed Care and Specialty Services. The Managed Care segment consists of the Company’s health plans, including all of the functions needed to operate them. The Specialty Services segment consists of the Company’s specialty companies offering auxiliary healthcare services and products.

More important recent Centene Corp (NYSE:CNC) news were published by: Businesswire.com which released: “INVESTOR ALERT: Investigation of Centene Corp. Announced by The Wagner Firm” on October 07, 2016, also Prnewswire.com published article titled: “Centene Corporation To Present At BAML Global Healthcare Conference 2016 In London”, Businesswire.com published: “IMPORTANT SHAREHOLDER ALERT: Lundin Law PC Announces an Investigation of …” on October 06, 2016. More interesting news about Centene Corp (NYSE:CNC) was released by: Businesswire.com and their article: “Glancy Prongay & Murray LLP Commences Investigation on Behalf of Centene Corp …” with publication date: October 04, 2016.

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