Centene Corp. (NYSE:CNC)‘s stock had its “buy” rating reissued by stock analysts at Jefferies Group in a research note issued to investors on Sunday. They presently have a $82.00 price target on the stock. Jefferies Group’s price objective indicates a potential upside of 36.53% from the company’s current price.
A number of other research analysts have also recently issued reports on the company. Leerink Swann cut Centene Corp. from an “outperform” rating to a “market perform” rating and set a $80.00 price objective for the company. in a report on Tuesday, September 6th. Morgan Stanley raised Centene Corp. from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $84.00 to $86.00 in a report on Wednesday, June 29th. Vetr cut Centene Corp. from a “strong-buy” rating to a “buy” rating and set a $81.00 price target for the company. in a report on Tuesday, July 12th. Barclays PLC raised Centene Corp. from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $76.00 to $82.00 in a report on Monday, June 20th. Finally, FBR & Co reaffirmed a “buy” rating on shares of Centene Corp. in a report on Thursday, September 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $80.76.
Shares of Centene Corp. (NYSE:CNC) opened at 60.06 on Friday. The firm’s 50-day moving average is $65.97 and its 200-day moving average is $65.75. Centene Corp. has a 1-year low of $47.36 and a 1-year high of $75.57. The stock has a market capitalization of $10.25 billion, a price-to-earnings ratio of 23.18 and a beta of 0.94.
Centene Corp. (NYSE:CNC) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $1.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.20. The company earned $10.90 billion during the quarter, compared to analysts’ expectations of $10.80 billion. Centene Corp. had a return on equity of 14.27% and a net margin of 1.19%. The business’s revenue was up 97.9% on a year-over-year basis. During the same period last year, the business earned $0.72 earnings per share. On average, analysts predict that Centene Corp. will post $4.37 earnings per share for the current fiscal year.
In other Centene Corp. news, VP Carol Goldman sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $66.36, for a total value of $663,600.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Kenneth Rone Baldwin sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $66.58, for a total value of $399,480.00. The disclosure for this sale can be found here. 4.50% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in CNC. Duncker Streett & Co. Inc. boosted its stake in Centene Corp. by 28.0% in the second quarter. Duncker Streett & Co. Inc. now owns 1,600 shares of the company’s stock valued at $114,000 after buying an additional 350 shares during the last quarter. Robecosam AG purchased a new stake in Centene Corp. during the first quarter valued at approximately $107,000. Quadrant Capital Group LLC boosted its stake in Centene Corp. by 11.0% in the second quarter. Quadrant Capital Group LLC now owns 2,170 shares of the company’s stock valued at $151,000 after buying an additional 215 shares during the last quarter. Tompkins Financial Corp boosted its stake in Centene Corp. by 243.8% in the second quarter. Tompkins Financial Corp now owns 2,235 shares of the company’s stock valued at $159,000 after buying an additional 1,585 shares during the last quarter. Finally, Financial Engines Advisors L.L.C. purchased a new stake in Centene Corp. during the second quarter valued at approximately $163,000. Hedge funds and other institutional investors own 92.91% of the company’s stock.
Centene Corp. Company Profile
Centene Corporation is a diversified healthcare company that provides programs and services to government sponsored healthcare programs. The Company also provides education and outreach programs to inform and assist members in accessing appropriate healthcare services. The Company operates through two segments.
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