Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Centene Corp shares valued at $1,000,008 were purchased by Asher Andrew Lynn on Nov 13 ’24. At $58.14 per share, Asher Andrew Lynn acquired 17,200 shares. The insider’s holdings grew to 486,847 shares worth approximately $28.77 million following the completion of this transaction.
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Also, LONDON SARAH purchased 4,117 shares, netting a total of over 250,314 in proceeds. Following the buying of shares at $60.80 each, the insider now holds 667,229 shares.
Before that, COUGHLIN CHRISTOPHER J had sold 878 shares from its account. In a trade valued at $67,382, the Director traded Centene Corp shares for $76.75 each. Upon closing the transaction, the insider’s holdings decreased to 878 shares, worth approximately $0.0.
As published in a research note from Jefferies on July 24, 2024, Centene Corp [CNC] has been rated down from a Buy to a Hold and the price target has been revised to $69 from $83. Analysts at Robert W. Baird started covering the stock with ‘”a Neutral”‘ outlook in a report released in late May. As of March 21, 2024, Stephens has decreased its “an Overweight” rating to a “an Equal-weight” for CNC. Earlier on March 06, 2024, Barclays initiated its rating. Their recommendation was “an Overweight” for CNC stock.
Analyzing CNC Stock Performance
During the last five days, there has been a surge of approximately 1.83%. Over the course of the year, Centene Corp shares have dropped approximately -20.36%. Shares of the company reached a 52-week high of $81.42 on 02/26/24 and a 52-week low of $57.20 on 11/18/24. A 50-day SMA is recorded $67.27, while a 200-day SMA reached $72.33. Nevertheless, trading volume fell to 4.56 million shares from 7.43 million shares the previous day.
Support And Resistance Levels for Centene Corp (CNC)
According to the 24-hour chart, there is a support level at 58.25, which, if violated, would cause prices to drop to 57.41. In the upper region, resistance lies at 59.69. The next price resistance is at 60.29. RSI (Relative Strength Index) is 39.96 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.89, which suggests the price will decrease in the coming days. Percent R is at 76.83%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
