Christopher J. Coughlin, a director at Centene Corp (NYSE:CNC), recently purchased 10,000 shares of the company's common stock. The transaction took place on December 16, 2024, at a weighted average price of $59.44 per share, totaling approximately $594,400. This insider purchase comes as the $29.19 billion healthcare provider trades near its 52-week low, with a modest P/E ratio of 9.98x. According to InvestingPro analysis, the stock appears undervalued based on its Fair Value model. This acquisition brings Coughlin's total direct ownership to 36,357.926 shares, which includes 2,916 shares of restricted stock units subject to vesting requirements.
In addition to this transaction, Coughlin holds options for 10,000 shares of common stock with an exercise price of $80.57, set to expire in 2032. These transactions reflect Coughlin's continued involvement and investment in Centene, a company known for its focus on providing healthcare services and plans.
In other recent news, Centene Corporation has been the focus of various financial analysts' adjustments. Jefferies reaffirmed its Underperform rating on Centene due to concerns about the complexities of the Health Insurance Exchange market and skepticism towards the company's guidance for steady Prescription Drug Plan margins. Meanwhile, JPMorgan (NYSE:JPM) upgraded Centene to Overweight, citing an attractive investment relative to its current market valuation. 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.
Despite potential regulatory changes that could impact the company's earnings, Stephens retained an Equal Weight rating on Centene's shares, albeit cutting the stock price target from $75.00 to $73.00. UBS upgraded Centene's rating from Neutral to Buy, adjusting the price target to $80.00 based on the company's strong financial outlook and market position.
Centene projects total revenues ranging from $166.5 billion to $169.5 billion for 2025, with an adjusted diluted earnings per share forecast for 2025 of over $7.25, exceeding the consensus estimate of $7.05. The company also reaffirmed its 2024 adjusted diluted EPS guidance of more than $6.80.
In executive changes, Sunshine Health, part of Centene Corporation, announced the appointment of Charlene Zein as its new CEO. These are among the recent developments for Centene Corporation.
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