Yesterday it was reported that the Chairman & CEO of Centene Corp (CNC), Michael Neidorff, exercised options to buy 10,000 CNC shares at $57.02 a share, for a total transaction value of $570.2K.
Following Michael Neidorff’s last CNC Buy transaction on October 11, 2016, the stock climbed by 58.4%.
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Based on Centene Corp’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $16.18 billion and quarterly net profit of $19 million. In comparison, last year the company earned revenue of $11.9 billion and had a net profit of $205 million. CNC’s market cap is $24.66B and the company has a P/E ratio of 25.02. Currently, Centene Corp has an average volume of 3.04M.
Based on 10 analyst ratings, the analyst consensus is Strong Buy with an average price target of $160.78, reflecting a 33.9% upside. Eight different firms, including BMO Capital and Cantor Fitzgerald, currently also have a Buy rating on the stock. One of the top 25 analysts, according to TipRanks.com, recently recommended Buy CNC with a $145 price target.
Michael Neidorff’s trades have generated a 34.5% average return based on past transactions. DailyInsider proprietary algorithm detects trades by the most influential insiders and selects attractive trading opportunities daily. To subscribe to the DailyInsider visit this page.
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Centene Corp. engages in the provision of programs and services to government sponsored healthcare programs. It operates through the Managed Care and Specialty Services segments. The Medicaid Managed Care segment provides health plan coverage to individuals through government subsidized programs through Medicaid.
