Thomas Greco, a director at Centene Corp (NYSE:CNC), recently purchased 17,000 shares of the company's common stock. This purchase aligns with broader management confidence in the $30 billion healthcare provider, which according to InvestingPro analysis, is currently trading below its Fair Value. The transaction, which took place on December 18, 2024, involved a weighted average price of $59.75 per share. The shares were acquired at prices ranging from $59.68 to $59.76, totaling approximately $1.02 million. Following this purchase, Greco now holds 19,309 shares, including 2,309 shares of restricted stock units subject to vesting requirements. Trading at a P/E ratio of 10.35, with analysts setting price targets up to $93, Centene shows promising valuation metrics. For deeper insights into Centene's valuation and 8 additional ProTips, explore the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Centene Corporation has been the focus of various analyst adjustments. Baird raised Centene's price target from $66 to $71, maintaining a neutral rating. This change is based on an estimated earnings per share (EPS) for 2025 of $7.25. Conversely, Jefferies reiterated an underperform rating on Centene shares, maintaining a price target of $52.00. The firm cited concerns over Centene's focus on the Health Insurance Exchange market and skepticism towards Centene's Prescription Drug Plan margins.
JPMorgan (NYSE:JPM) upgraded Centene to overweight, despite an anticipated decline in EPS due to the expiration of eAPTCs. The firm sees potential for positive outcomes for Centene, particularly if subsidies and Medicaid policies evolve favorably. Truist Securities adjusted Centene's stock price target to $84, maintaining a buy rating based on the company's robust long-term targets and solid initial guidance for 2025.
Stephens, however, cut Centene's stock price target from $75.00 to $73.00, retaining an equal weight rating. The firm noted Centene's strategic shift towards long-term growth, focusing on earnings potential expected to be realized in the latter half of the decade. These are the recent developments for Centene Corporation.
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