Centene (NYSE:CNC) Stock Sees Unusually High Put Option Buying

Posted by Geri Gentry on Nov 10th, 2026

Centene Corporation (NYSE:CNC – Get Free Report) was the recipient of some unusual options trading activity on Tuesday. Traders purchased 20,544 put options on the company. This is an increase of approximately 165% compared to the average daily volume of 7,749 put options.

Centene Price Performance

Shares of CNC traded down $0.01 during midday trading on Tuesday, hitting $68.53. The company’s stock had a trading volume of 1,216,372 shares, compared to its average volume of 5,655,285. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.69. Centene has a one year low of $31.63 and a one year high of $78.08. The stock has a market capitalization of $33.93 billion, a price-to-earnings ratio of 23.43, a price-to-earnings-growth ratio of 0.45 and a beta of 1.07. The company’s fifty day simple moving average is $66.72 and its two-hundred day simple moving average is $55.99.

Centene (NYSE:CNC – Get Free Report) last announced its quarterly earnings data on Tuesday, October 27th. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.48. The business had revenue of $50.65 billion during the quarter, compared to the consensus estimate of $47.12 billion. Centene had a return on equity of 12.15% and a net margin of 0.72%. Centene’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.50 EPS. As a group, equities analysts expect that Centene will post 5.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CNC has been the subject of several recent research reports. Truist Financial reiterated a “buy” rating and issued a $82.00 price target (up from $80.00) on shares of Centene in a research note on Monday, November 2nd. Cantor Fitzgerald raised their price objective on Centene from $75.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 28th. Bank of America reiterated a “buy” rating and set a $82.00 target price (up from $80.00) on shares of Centene in a research report on Wednesday, October 28th. Wall Street Zen lowered Centene from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 31st. Finally, Sanford C. Bernstein restated an “outperform” rating and issued a $79.00 price target (up from $68.00) on shares of Centene in a research report on Monday, August 3rd. Nine equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $73.80.

Check Out Our Latest Research Report on CNC

Insider Activity

In other Centene news, General Counsel Christopher Koster sold 56,500 shares of the stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $66.90, for a total transaction of $3,779,850.00. Following the transaction, the general counsel owned 248,854 shares in the company, valued at $16,648,332.60. This represents a 18.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.37% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Citizens Financial Group Inc. RI lifted its holdings in Centene by 71.5% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 41,815 shares of the company’s stock worth $2,598,000 after buying an additional 17,429 shares during the period. Deutsche Bank AG bought a new position in Centene during the 2nd quarter worth approximately $257,279,000. Hara Capital LLC acquired a new position in shares of Centene in the 2nd quarter worth approximately $5,222,000. Paralel Advisors LLC acquired a new position in shares of Centene in the 2nd quarter worth approximately $4,531,000. Finally, Roberts Glore & Co. Inc. IL acquired a new position in shares of Centene in the 2nd quarter worth approximately $1,659,000. Institutional investors and hedge funds own 93.63% of the company’s stock.

About Centene

(Get Free Report)

Centene Corporation is a U.S. health care company that provides managed care and related services, primarily for people enrolled in government-sponsored health programs. Its offerings include Medicaid and Medicare plans, as well as health insurance sold through the Affordable Care Act marketplace.

Centene serves members through health plans and a network of health care providers. Its businesses include Ambetter, which offers marketplace health plans, and Wellcare, which provides Medicare-related coverage.