What’s in Centene Corp After Today’s Bullish Options Activity?

 What's in Centene Corp After Today's Bullish Options Activity?

In today’s session Centene Corp (CNC) registered an unusually high (1,200) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the December, 2016 call, expecting serious CNC increase. With 1,200 contracts traded and 1824 open interest for the Dec, 16 contract, it seems this is a quite bullish bet. The option with symbol: CNC161216C00067500 closed last at: $1.25 or 16.7% down. About 790,333 shares traded hands. Centene Corp (NYSE:CNC) has risen 0.86% since March 29, 2016 and is uptrending. It has underperformed by 2.61% the S&P500.

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 25.83% above today’s ($61.99) stock price. Centene Corporation has been the topic of 16 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The company was upgraded on Thursday, May 26 by Stifel Nicolaus. The firm has “Buy” rating given on Wednesday, July 27 by Jefferies. Barclays Capital maintained the stock with “Equal-Weight” rating in Wednesday, January 6 report. The firm earned “Buy” rating on Friday, January 8 by Jefferies. The rating was initiated by Credit Suisse with “Outperform” on Wednesday, December 16. The rating was downgraded by Leerink Swann to “Mkt Perform” on Tuesday, September 6. The stock has “Outperform” rating given by Credit Suisse on Wednesday, October 5. Citigroup initiated the stock with “Buy” rating in Friday, October 2 report. Barclays Capital upgraded it to “Overweight” rating and $82 target price in Monday, June 20 report. The firm has “Buy” rating by UBS given on Monday, July 27.

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 Q2 2016. Its down 1.08, from 1.91 in 2016Q1. The ratio is negative, 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.
Osborne Prns Mngmt Limited Company has invested 1.1% of its portfolio in Centene Corp (NYSE:CNC). Old Mutual Customised Solutions (Proprietary) last reported 5,412 shares in the company. Federated Inc Pa has invested 0.01% of its portfolio in Centene Corp (NYSE:CNC). Century holds 0% or 5,872 shares in its portfolio. Sg Americas Securities Limited Liability Company holds 0.02% of its portfolio in Centene Corp (NYSE:CNC) for 44,101 shares. Cibc Asset Mngmt accumulated 0.01% or 17,051 shares. Texas Permanent School Fund holds 0.05% of its portfolio in Centene Corp (NYSE:CNC) for 55,308 shares. Eqis Cap Management last reported 0.13% of its portfolio in the stock. Jaffetilchin Investment Prns Ltd Limited Liability Company last reported 0.13% of its portfolio in the stock. Calvert Investment Mngmt accumulated 62,609 shares or 0.23% of the stock. Robeco Institutional Asset Mgmt Bv holds 8,247 shares or 0% of its portfolio. Regions Fincl holds 0.01% of its portfolio in Centene Corp (NYSE:CNC) for 9,827 shares. Next Century Growth Invsts Lc holds 0.99% of its portfolio in Centene Corp (NYSE:CNC) for 297,571 shares. Morgan Stanley accumulated 251,123 shares or 0.01% of the stock. Eagle Asset owns 2.13M shares or 1.05% of their US portfolio.

Insider Transactions: Since June 6, 2016, the stock had 1 insider purchase, and 5 sales for $2.83 million net activity. Baldwin Kenneth Rone also sold $399,480 worth of Centene Corp (NYSE:CNC) shares. Another trade for 15,910 shares valued at $1.10 million was sold by GEPHARDT Richard A. The insider GOLDMAN CAROL sold $663,600. BROOKS MARK J sold 3,914 shares worth $254,449. DITMORE ROBERT K bought $10,050 worth of stock or 150 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 $10.55 billion. The Firm also provides education and outreach programs to inform and assist members in accessing appropriate healthcare services. It has a 23.89 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 recent Centene Corp (NYSE:CNC) news were published by: Forbes.com which released: “Despite Obamacare Woes, Centene Grows From Medicaid Expansion” on October 25, 2016. Also Prnewswire.com published the news titled: “Centene Corporation Announces Successful Award Of Expanded, Statewide Managed …” on October 18, 2016. Prnewswire.com‘s news article titled: “Lifshitz & Miller Law Firm Announces Investigation of Centene Corp., Misonix …” with publication date: October 27, 2016 was also an interesting one.

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