This morning we watched Centene drop -5.4% to a price of $58.03 per share. The Large-Cap Medical Specialities company is now trading -26.19% below its average target price of $78.62. Analysts have set target prices ranging from $53.0 to $93.0 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 1.67. The company's insiders own 0.47% 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 99.0% of Centene's shares being owned by this investor type.
Institutions Invested in Centene
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2024-12-31 | Vanguard Group Inc | 12% | 58,114,005 | $3,372,646,271 |
| 2024-12-31 | Blackrock Inc. | 9% | 42,522,196 | $2,467,775,638 |
| 2024-12-31 | Harris Associates L.P. | 5% | 25,400,126 | $1,474,096,308 |
| 2024-12-31 | Norges Bank Investment Management | 5% | 25,357,664 | $1,471,632,026 |
| 2024-12-31 | State Street Corporation | 5% | 22,766,046 | $1,321,227,476 |
| 2024-12-31 | FMR, LLC | 4% | 21,429,162 | $1,243,641,413 |
| 2024-12-31 | Capital World Investors | 4% | 17,504,247 | $1,015,858,971 |
| 2024-12-31 | Wellington Management Group, LLP | 3% | 15,334,739 | $889,951,575 |
| 2024-12-31 | Geode Capital Management, LLC | 3% | 12,471,047 | $723,757,210 |
| 2024-12-31 | Invesco Ltd. | 2% | 10,555,456 | $612,585,887 |
Besides an analyst consensus of strong upside potential, other market factors point to there being positive market sentiment on Centene.
