Shares of Centene Corp (NYSE:CNC) gapped up prior to trading on Friday . The stock had previously closed at $53.43, but opened at $53.22. Centene shares last traded at $53.94, with a volume of 218,145 shares changing hands.
A number of brokerages recently weighed in on CNC. Credit Suisse Group set a GBX 6,350 ($82.97) price objective on AstraZeneca and gave the company a “buy” rating in a research note on Friday, March 29th. Morgan Stanley raised to an “overweight” rating and set a GBX 400 ($5.23) price objective on the stock in a research note on Friday. Cowen reissued a “buy” rating and issued a $77.00 price objective on shares of Centene in a research note on Sunday, March 31st. SunTrust Banks raised their price objective on Polaris Industries to $102.00 and gave the company a “hold” rating in a research note on Wednesday, April 24th. Finally, ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $75.77.
The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04. The business has a 50-day moving average of $54.12. The firm has a market capitalization of $22.53 billion, a P/E ratio of 15.40, a P/E/G ratio of 0.92 and a beta of 0.85.
Centene (NYSE:CNC) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $1.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.07. Centene had a return on equity of 14.60% and a net margin of 1.66%. The company had revenue of $18.44 billion for the quarter, compared to analyst estimates of $17.44 billion. During the same quarter last year, the firm earned $2.17 EPS. Centene’s revenue for the quarter was up 39.8% compared to the same quarter last year. On average, analysts predict that Centene Corp will post 4.37 earnings per share for the current year.
Large investors have recently made changes to their positions in the company. Bessemer Group Inc. grew its holdings in shares of Centene by 140.7% during the 4th quarter. Bessemer Group Inc. now owns 349 shares of the company’s stock worth $41,000 after purchasing an additional 204 shares in the last quarter. Huntington National Bank grew its holdings in shares of Centene by 110.7% during the 1st quarter. Huntington National Bank now owns 472 shares of the company’s stock worth $25,000 after purchasing an additional 248 shares in the last quarter. Toth Financial Advisory Corp grew its holdings in shares of Centene by 100.0% during the 1st quarter. Toth Financial Advisory Corp now owns 480 shares of the company’s stock worth $25,000 after purchasing an additional 240 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Centene during the 1st quarter worth approximately $27,000. Finally, Shamrock Asset Management LLC grew its holdings in shares of Centene by 100.0% during the 1st quarter. Shamrock Asset Management LLC now owns 522 shares of the company’s stock worth $28,000 after purchasing an additional 261 shares in the last quarter. 90.68% of the stock is currently owned by institutional investors.
Centene Company Profile (NYSE:CNC)
Centene Corporation operates as a diversified and multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. The company's Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term services and support, foster care, and medicare-medicaid plans, which covers dually eligible individuals, as well as aged, blind, or disabled programs.
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