This afternoon we watched Centene drop -2.5% to a price of $73.61 per share. The large-cap Medical Specialities company is now trading -14.01% below its average target price of $85.6. Analysts have set target prices ranging from $72.0 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 2.38. The company's insiders own 0.45% 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 96.4% of Centene's shares being owned by this investor type.
Institutions Invested in Centene
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2023-09-30 | Vanguard Group Inc | 12% | 62,179,435 | $4,577,028,248 |
| 2023-09-30 | Blackrock Inc. | 7% | 39,000,832 | $2,870,851,267 |
| 2023-09-30 | Capital World Investors | 7% | 35,276,885 | $2,596,731,526 |
| 2023-09-30 | FMR, LLC | 6% | 33,315,931 | $2,452,385,701 |
| 2023-09-30 | State Street Corporation | 4% | 22,810,864 | $1,679,107,712 |
| 2023-09-30 | Wellington Management Group, LLP | 4% | 20,210,844 | $1,487,720,239 |
| 2023-09-30 | JP Morgan Chase & Company | 3% | 13,467,834 | $991,367,268 |
| 2023-09-30 | Politan Capital Management LP | 2% | 12,137,283 | $893,425,409 |
| 2023-09-30 | Geode Capital Management, LLC | 2% | 10,147,633 | $746,967,271 |
| 2023-09-30 | Invesco Ltd. | 2% | 8,788,485 | $646,920,386 |
Besides an analyst consensus of some upside potential, other market factors point to there being mixed market sentiment on Centene.
