This afternoon we watched Centene drop -7.5% to a price of $64.25 per share. The large-cap Medical Specialities company is now trading -24.47% below its average target price of $85.06. Analysts have set target prices ranging from $71.0 to $110.0 per share for Centene, and have given the stock an average rating of buy.
The stock has a very low short interest at 1.5%, and a short ratio of 2.69. The company's insiders own 0.65% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that a significant number of institutional investors are invested in the stock, with 97.3% of Centene's shares being owned by this investor type.
Institutions Invested in Centene
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2023-03-31 | Vanguard Group, Inc. (The) | 12% | 64,207,122 | $4,125,307,588 |
| 2023-03-31 | Capital World Investors | 10% | 53,066,930 | $3,409,550,252 |
| 2023-03-31 | Blackrock Inc. | 7% | 39,453,095 | $2,534,861,353 |
| 2023-03-31 | FMR, LLC | 6% | 33,959,390 | $2,181,890,807 |
| 2023-03-31 | State Street Corporation | 4% | 23,355,511 | $1,500,591,581 |
| 2023-03-31 | Wellington Management Group, LLP | 4% | 20,841,828 | $1,339,087,449 |
| 2023-03-31 | Politan Capital Management LP | 2% | 13,384,380 | $859,946,415 |
| 2023-03-31 | JP Morgan Chase & Company | 2% | 11,888,024 | $763,805,542 |
| 2023-03-31 | Geode Capital Management, LLC | 2% | 9,875,788 | $634,519,379 |
| 2022-12-31 | Norges Bank Investment Management | 2% | 8,696,925 | $558,777,431 |
Besides an analyst consensus of strong upside potential, other market factors point to there being positive market sentiment on Centene.
