Is Buying All-time Stock Like Centene Corporation (CNC) a Winning Strategy?

April 17, 2018 - By Mona Holcomb

Centene Corporation (NYSE:CNC) Logo

Investors sentiment increased to 1.19 in 2017 Q4. Its up 0.12, from 1.07 in 2017Q3. It improved, as 35 investors sold Centene Corporation shares while 186 reduced holdings. 85 funds opened positions while 177 raised stakes. 150.93 million shares or 0.26% more from 150.53 million shares in 2017Q3 were reported.
Etrade Management Limited Liability Corporation has 8,139 shares. Moreover, C M Bidwell And Assoc Limited has 0.01% invested in Centene Corporation (NYSE:CNC) for 55 shares. Dubuque Retail Bank has invested 0% in Centene Corporation (NYSE:CNC). First Mercantile Tru accumulated 6,260 shares. Bnp Paribas Asset Mngmt invested in 386,112 shares or 0.33% of the stock. Bancorp Of Mellon has 1.34 million shares. Comm Bank & Trust reported 7,257 shares. Moreover, Kemnay Advisory Services has 0.6% invested in Centene Corporation (NYSE:CNC) for 13,289 shares. Timessquare Cap Mgmt Lc holds 0.5% of its portfolio in Centene Corporation (NYSE:CNC) for 761,900 shares. Moreover, Bluemountain Limited Liability Co has 0.44% invested in Centene Corporation (NYSE:CNC). Comerica State Bank reported 73,310 shares. Advisor Prns Ltd Liability Corp stated it has 6,902 shares or 0.14% of all its holdings. Texas Permanent School Fund stated it has 47,085 shares or 0.06% of all its holdings. Bb&T Securities Limited Liability Company invested 0.04% of its portfolio in Centene Corporation (NYSE:CNC). Ubs Asset Mgmt Americas has 876,375 shares.

Since October 26, 2017, it had 0 insider buys, and 5 selling transactions for $3.19 million activity. Shares for $425,955 were sold by BROOKS MARK J. Hunter Jesse N sold $987,300 worth of stock or 10,000 shares. $490,896 worth of Centene Corporation (NYSE:CNC) was sold by BOWERS CHRISTOPHER D on Monday, March 12.

The stock of Centene Corporation (NYSE:CNC) reached all time high today, Apr, 17 and still has $118.23 target or 5.00 % above today’s $112.60 share price. This indicates more upside for the $19.90 billion company. This technical setup was reported by Barchart.com. If the $118.23 PT is reached, the company will be worth $995.15M more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events.

The stock increased 2.44% or $2.68 during the last trading session, reaching $112.6. About 573,475 shares traded. Centene Corporation (NYSE:CNC) has risen 44.01% since April 17, 2017 and is uptrending. It has outperformed by 32.46% the S&P500.

Analysts await Centene Corporation (NYSE:CNC) to report earnings on April, 24. They expect $1.88 earnings per share, up 67.86 % or $0.76 from last year’s $1.12 per share. CNC’s profit will be $332.31M for 14.97 P/E if the $1.88 EPS becomes a reality. After $0.97 actual earnings per share reported by Centene Corporation for the previous quarter, Wall Street now forecasts 93.81 % EPS growth.

Centene Corporation (NYSE:CNC) Ratings Coverage

Among 10 analysts covering Centene Corp (NYSE:CNC), 8 have Buy rating, 0 Sell and 2 Hold. Therefore 80% are positive. Centene Corp had 16 analyst reports since October 24, 2017 according to SRatingsIntel. The firm has “Buy” rating by Wells Fargo given on Monday, December 18. The firm earned “Buy” rating on Tuesday, February 6 by Cantor Fitzgerald. Credit Suisse initiated Centene Corporation (NYSE:CNC) rating on Friday, November 3. Credit Suisse has “Hold” rating and $102.0 target. The company was maintained on Tuesday, October 24 by Cantor Fitzgerald. Jefferies maintained the stock with “Buy” rating in Monday, December 18 report. The firm has “Buy” rating by Cantor Fitzgerald given on Thursday, December 14. The firm earned “Outperform” rating on Wednesday, October 25 by Oppenheimer. Credit Suisse maintained it with “Neutral” rating and $112 target in Wednesday, February 7 report. The firm has “Buy” rating given on Tuesday, February 6 by Jefferies. Cantor Fitzgerald maintained Centene Corporation (NYSE:CNC) rating on Thursday, March 15. Cantor Fitzgerald has “Buy” rating and $125.0 target.

Centene Corporation operates as a diversified and multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. The company has market cap of $19.90 billion. It operates through two divisions, Managed Care and Specialty Services. It has a 24.01 P/E ratio. The Managed Care segment offers Medicaid and Medicaid-related health plan coverage to individuals through government subsidized programs, including Medicaid, the State childrenÂ’s health insurance program, long-term care, foster care, and dual-eligible individual, as well as aged, blind, or disabled programs.

Centene Corporation (NYSE:CNC) Institutional Positions Chart

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