Centene Corp (NYSE:CNC) has received a consensus rating of “Buy” from the twenty analysts that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $82.92.
Several brokerages have recently commented on CNC. SunTrust Banks increased their price objective on Centene from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, April 13th. Morgan Stanley increased their price target on shares of Centene from $85.00 to $89.00 and gave the company an “overweight” rating in a research report on Monday, April 13th. Jefferies Financial Group decreased their price target on shares of Centene from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Wednesday. Bank of America reaffirmed a “buy” rating and issued a $82.00 price objective on shares of Centene in a research note on Wednesday, April 29th. Finally, Credit Suisse Group reiterated a “hold” rating and issued a $72.50 target price on shares of Centene in a research report on Wednesday, April 29th.
Shares of NYSE:CNC opened at $65.25 on Tuesday. The company’s fifty day moving average price is $64.50 and its 200-day moving average price is $63.43. The firm has a market capitalization of $37.79 billion, a price-to-earnings ratio of 13.18, a PEG ratio of 0.95 and a beta of 0.73. Centene has a one year low of $41.62 and a one year high of $74.70. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.22 and a quick ratio of 1.14.
Centene (NYSE:CNC) last announced its earnings results on Tuesday, July 28th. The company reported $2.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.43 by ($0.03). Centene had a return on equity of 14.07% and a net margin of 1.70%. The company had revenue of $27.71 billion during the quarter, compared to analysts’ expectations of $27.48 billion. During the same quarter last year, the firm posted $1.34 earnings per share. The firm’s revenue was up 51.0% on a year-over-year basis. As a group, equities research analysts expect that Centene will post 4.89 EPS for the current year.
In related news, Director Orlando Ayala sold 30,000 shares of the business’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $63.87, for a total transaction of $1,916,100.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Kenneth A. Burdick sold 35,000 shares of the stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $65.98, for a total transaction of $2,309,300.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 222,861 shares of company stock valued at $14,674,987. 1.90% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kistler Tiffany Companies LLC purchased a new stake in Centene in the second quarter worth $28,000. Evolution Wealth Advisors LLC grew its position in shares of Centene by 118.7% in the 1st quarter. Evolution Wealth Advisors LLC now owns 551 shares of the company’s stock worth $33,000 after buying an additional 299 shares during the period. Flagship Harbor Advisors LLC increased its stake in shares of Centene by 113.9% in the 1st quarter. Flagship Harbor Advisors LLC now owns 708 shares of the company’s stock worth $42,000 after acquiring an additional 377 shares in the last quarter. Wealth Quarterback LLC purchased a new position in Centene during the 4th quarter valued at about $43,000. Finally, Savior LLC lifted its position in Centene by 49.2% during the 1st quarter. Savior LLC now owns 764 shares of the company’s stock valued at $45,000 after acquiring an additional 252 shares during the period. Institutional investors own 93.58% of the company’s stock.
Centene Company Profile
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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