Centene Corp's (NYSE:CNC) director, Christopher J. Coughlin, has sold a total of $67,382 worth of company stock, according to a recent SEC filing. The transaction involved 878 shares of Centene's common stock at a price of $76.745 each.
The sale took place on May 14, 2024, and following the transaction, Coughlin's directly owned stock in the company was reduced to zero. However, it's important to note that his indirect ownership through family trusts, where he serves as the sole trustee, remains significant. The filing also revealed that Coughlin's overall holdings include 25,503.926 shares, which accounts for shares of restricted stock units that are subject to vesting requirements.
Investors often keep a close eye on insider transactions as they can provide insights into the executives' perspectives on the company's current valuation and future prospects. In the case of Centene, a leading provider of hospital and medical service plans, such transactions are of particular interest given the company's impact on the healthcare sector.
Centene Corp has not provided any public comments regarding the transaction at this time. The details of the sale are publicly available through the SEC's filing system for those interested in the specifics of the transaction.
InvestingPro Insights
In light of the recent insider sale by Centene Corp's (NYSE:CNC) director Christopher J. Coughlin, it's noteworthy to consider current metrics and insights that could influence investor perception of the company's stock. According to InvestingPro data, Centene boasts a market capitalization of $39.82 billion and operates with a moderate level of debt. The company's Price/Earnings (P/E) ratio stands at 14.71, which adjusts to an even more attractive 13.04 when considering the last twelve months as of Q1 2024. This could signal that the stock is trading at a low valuation relative to near-term earnings growth, an InvestingPro Tip that suggests the company's shares might be undervalued.
Additionally, Centene's revenue for the last twelve months as of Q1 2024 is reported at $142.8 billion, reflecting a steady growth rate of 4.28%. Another InvestingPro Tip highlights that 8 analysts have revised their earnings upwards for the upcoming period, which may indicate positive sentiment about the company's future performance. Moreover, the company's stock is known for low price volatility, which could appeal to investors looking for stability in the Healthcare Providers & Services industry.
For those considering a deeper dive into Centene's financials and future outlook, InvestingPro offers a wealth of detailed analysis and additional tips. There are 9 more InvestingPro Tips available for Centene, which can be accessed at https://www.investing.com/pro/CNC. Interested investors can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, providing an opportunity to leverage advanced tools and insights for informed investment decisions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.