Centene Corp (NYSE:CNC) has been assigned an average recommendation of “Buy” from the twenty ratings firms that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation, fourteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $78.50.
A number of analysts have issued reports on the stock. TheStreet downgraded shares of Centene from a “b” rating to a “c+” rating in a report on Monday. Wolfe Research upgraded shares of Centene from a “peer perform” rating to an “outperform” rating and set a $72.00 price target on the stock in a report on Monday, January 6th. Evercore ISI assumed coverage on shares of Centene in a report on Monday, February 3rd. They issued an “outperform” rating and a $90.00 price target on the stock. Citigroup lifted their price target on shares of Centene from $65.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, February 5th. Finally, ValuEngine raised shares of Centene from a “strong sell” rating to a “sell” rating in a research note on Tuesday, March 17th.
NYSE CNC traded up $1.73 on Wednesday, reaching $50.46. The company had a trading volume of 125,889 shares, compared to its average volume of 8,641,486. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 1.08. The stock has a market capitalization of $29.15 billion, a PE ratio of 16.12, a price-to-earnings-growth ratio of 0.67 and a beta of 1.01. The firm’s 50 day moving average price is $59.61 and its 200 day moving average price is $56.23. Centene has a 12 month low of $41.62 and a 12 month high of $68.64.
Centene (NYSE:CNC) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.73 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.73. The company had revenue of $18.86 billion for the quarter, compared to the consensus estimate of $18.45 billion. Centene had a net margin of 1.77% and a return on equity of 15.18%. Centene’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.69 EPS. On average, research analysts expect that Centene will post 4.72 EPS for the current year.
In other Centene news, Director Tommy G. Thompson sold 500 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $62.98, for a total value of $31,490.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert K. Ditmore sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $65.31, for a total value of $1,959,300.00. The disclosure for this sale can be found here. 1.90% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the company. Savior LLC acquired a new position in shares of Centene during the 4th quarter worth about $32,000. Shine Investment Advisory Services Inc. lifted its stake in Centene by 44.9% in the 4th quarter. Shine Investment Advisory Services Inc. now owns 549 shares of the company’s stock valued at $35,000 after buying an additional 170 shares in the last quarter. Penserra Capital Management LLC boosted its holdings in Centene by 104.2% in the 4th quarter. Penserra Capital Management LLC now owns 582 shares of the company’s stock worth $36,000 after buying an additional 297 shares during the last quarter. Meeder Asset Management Inc. boosted its holdings in Centene by 43.0% in the 4th quarter. Meeder Asset Management Inc. now owns 609 shares of the company’s stock worth $38,000 after buying an additional 183 shares during the last quarter. Finally, Valeo Financial Advisors LLC raised its holdings in shares of Centene by 31.5% during the fourth quarter. Valeo Financial Advisors LLC now owns 639 shares of the company’s stock valued at $40,000 after acquiring an additional 153 shares during the last quarter. 74.89% of the stock is owned by hedge funds and other institutional investors.
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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