Large Outflow of Money Witnessed in Centene Corporation

Centene Corporation (CNC) jumped 0.93 points or 1.47% on strong buying and was last priced at $64.2 per share. The shares saw huge fund flow intraday; a massive $22.1 million made their way in through the upticks but an even bigger $27.05 million made their way out through downticks. As per the last observation, the net money flow stood at $(-4.96) million and the up/down ratio was found to be 0.82. The shares have seen a weekly value change of 0.63% .A block trade was recorded in the company shares with a net money flow of $(-5.45) million. The composite value of the funds in upticks was $7.33 million and the total value of funds in downticks was $12.77. As can be seen from the data, the block transaction had the up/down ratio of 0.57.Block trades are executed by Investment Banking firms or Wealth Managers shifting positions or Day traders taking advantage of trading signals.

Centene Corporation has dropped 0.43% in the last five trading days, however, the shares have posted positive gains of 13.61% in the last 4 weeks. Centene Corporation is up 2.75% in the last 3-month period. Year-to-Date the stock performance stands at 13.61%. Centene Corporation (NYSE:CNC) rose 1.47% or 0.93 points on Wednesday and made its way into the gainers of the day. After trading began at $63.31 the stock was seen hitting $64.89 as a peak level and $63.31 as the lowest level. The stock ended up at $64.2. The daily volume was measured at 1,866,111 shares. The 52-week high of the share price is $75.57 and the 52-week low is $47.36. The company has a market cap of $10,971 million.

Company has reported several Insider transactions to the SEC, on Dec 5, 2016, Mark J Brooks (SVP, Chief Information Officer) sold 1,099 shares at 58.00 per share price.On Nov 8, 2016, Jesse N Hunter (EVP, Products) sold 5,000 shares at 65.00 per share price.On Oct 4, 2016, Carol Goldman (Exec VP Chief Admin Officer) sold 10,000 shares at 66.36 per share price.

Centene Corp Last issued its quarterly earnings results on Oct 25, 2016. The company reported $1.11 EPS for the quarter, missing the analyst consensus estimate by $ -0.04. Analyst had a consensus of $1.15. The company had revenue of $10846.00 million for the quarter, compared to analysts expectations of $10989.11 million. The companys revenue was up 86.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.84 EPS.

Several Stock Research Financial Advisors from Investment Banking firms have advised their client and investors on the stock.Centene Corp was Initiated by Piper Jaffray to Overweight on Jan 4, 2017. Centene Corp was Initiated by JP Morgan to Overweight on Dec 21, 2016. Centene Corp was Upgraded by Goldman to Neutral on Dec 13, 2016. Centene Corp was Upgraded by Bernstein to Outperform on Nov 14, 2016. Centene Corp was Downgraded by Credit Suisse to Neutral on Nov 11, 2016.

Centene Corporation provides managed care programs and related services to individuals receiving benefits under Medicaid, including Supplemental Security Income, and the State Childrens Health Insurance Program.


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