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Centene Corp. (CNC) gets rating Downgrade from Jefferies

Centene Corp.’s recent filing unveils that its Director COUGHLIN CHRISTOPHER J unloaded Company’s shares for reported $67382.0 on May 14 ’24. In the deal valued at $76.75 per share,878 shares were sold. As a result of this transaction, COUGHLIN CHRISTOPHER J now holds 0 shares worth roughly $0.0.

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Then, FASOLA KENNETH J sold 8,000 shares, generating $620,960 in total proceeds. Upon selling the shares at $77.62, the President now owns 300,357 shares.

Before that, Robinson Lori Jean sold 10,000 shares. Centene Corp. shares valued at $774,100 were divested by the Director at a price of $77.41 per share. As a result of the transaction, Robinson Lori Jean now holds 11,455 shares, worth roughly $0.85 million.

Jefferies downgraded its Centene Corp. [CNC] rating to a Hold from a a Buy in a research note published on July 24, 2024; the price target was decreased to $69 from $83. A number of analysts have revised their coverage, including Robert W. Baird’s analysts, who began to cover the stock in late May with a ‘”a Neutral”‘ rating. Stephens also remained covering CNC and has decreased its forecast on March 21, 2024 with a “an Equal-weight” recommendation from previously “an Overweight” rating. Barclays started covering the stock on March 06, 2024. It rated CNC as “an Overweight”.

Price Performance Review of CNC

On Tuesday, Centene Corp. [NYSE:CNC] saw its stock fall -1.78% to $73.94. Over the last five days, the stock has lost -0.62%. Centene Corp. shares have fallen nearly -0.36% since the year began. Nevertheless, the stocks have risen 7.35% over the past one year. While a 52-week high of $81.42 was reached on 02/26/24, a 52-week low of $63.45 was recorded on 07/23/24. SMA at 50 days reached $75.32, while 200 days put it at $74.35.

Levels Of Support And Resistance For CNC Stock

The 24-hour chart illustrates a support level at 73.45, which if violated will result in even more drops to 72.97. On the upside, there is a resistance level at 74.85. A further resistance level may holdings at 75.77. The Relative Strength Index (RSI) on the 14-day chart is 45.86, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.48, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 72.04%. Stochastics %K at 49.60% indicates the stock is a holding.

How much short interest is there in Centene Corp.?

A steep rise in short interest was recorded in Centene Corp. stocks on 2024-09-13, dropping by -0.15 million shares to a total of 9.62 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-15 was 9.77 million shares. There was a decline of -1.54%, which implies that there is a negative sentiment for the stock.

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