On March 29, 2023 at 11:10:48 ET an unusually large
$182.50K block of Call contracts in Centene
(CNC) was bought,
with a strike price of $62.50 / share, expiring in 51 days (on May 19, 2023).
Fintel tracks all large options trades, and the premium spent on this trade was 1.47 sigmas above the mean, placing it in the 95.38 percentile of all recent large trades made in CNC options.
This trade was first picked up on Fintel’s real time Unusual Option Trades
tool, where unusual option trades are highlighted.
Analyst Price Forecast Suggests 44.54% Upside
As of March 29, 2023,
the average one-year price target for Centene is $91.23.
The forecasts range from a low of $71.71 to a high of $115.50.
The average price target represents an increase of 44.54% from its latest reported closing price of $63.12.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Centene
is $145,909MM, an increase of 7.29%.
The projected annual non-GAAP EPS
is $6.41.
What is the Fund Sentiment?
There are 1842 funds or institutions reporting positions in Centene.
This is an increase
of
35
owner(s) or 1.94% in the last quarter.
Average portfolio weight of all funds dedicated to CNC is 0.44%,
a decrease
of 6.48%.
Total shares owned by institutions decreased
in the last three months by 4.31% to 590,878K shares.
The put/call ratio of CNC is 1.02, indicating a
bearish
outlook.
What are Large Shareholders Doing?
Capital World Investors
holds 49,805K shares
representing 9.04% ownership of the company.
In it’s prior filing, the firm reported owning 48,666K shares, representing
an increase
of 2.29%.
The firm
increased
its portfolio allocation in CNC by 2.41% over the last quarter.
Price T Rowe Associates
holds 23,370K shares
representing 4.24% ownership of the company.
In it’s prior filing, the firm reported owning 31,271K shares, representing
a decrease
of 33.81%.
The firm
decreased
its portfolio allocation in CNC by 22.66% over the last quarter.
ANCFX – AMERICAN FUNDS FUNDAMENTAL INVESTORS
holds 22,096K shares
representing 4.01% ownership of the company.
In it’s prior filing, the firm reported owning 22,857K shares, representing
a decrease
of 3.44%.
The firm
decreased
its portfolio allocation in CNC by 5.80% over the last quarter.
Wellington Management Group Llp
holds 20,368K shares
representing 3.70% ownership of the company.
In it’s prior filing, the firm reported owning 19,121K shares, representing
an increase
of 6.12%.
The firm
decreased
its portfolio allocation in CNC by 99.99% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares
holds 17,214K shares
representing 3.13% ownership of the company.
In it’s prior filing, the firm reported owning 17,036K shares, representing
an increase
of 1.04%.
The firm
decreased
its portfolio allocation in CNC by 1.65% over the last quarter.
Centene Background Information
(This description is provided by the company.)
Centene Corporation, a Fortune 50 company, is a leading multi-national healthcare enterprise that is committed to helping people live healthier lives. The Company takes a local approach – with local brands and local teams – to provide fully integrated, high-quality, and cost-effective services to government-sponsored and commercial healthcare programs, focusing on under-insured and uninsured individuals. Centene offers affordable and high-quality products to nearly 1 in 15 individuals across the nation, including Medicaid and Medicare members (including Medicare Prescription Drug Plans) as well as individuals and families served by the Health Insurance Marketplace, the TRICARE program, and individuals in correctional facilities. The Company also serves several international markets, and contracts with other healthcare and commercial organizations to provide a variety of specialty services focused on treating the whole person. Centene focuses on long-term growth and the development of its people, systems and capabilities so that it can better serve its members, providers, local communities, and government partners.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
