According to Zacks, “Centene Corporation provides managed care programs and related services to individuals receiving benefits under Medicaid, including Supplemental Security Income, and the State Children’s Health Insurance Program. “
Other research analysts have also recently issued reports about the stock. Oppenheimer Holdings Inc. restated an outperform rating and set a $89.00 price target on shares of Centene Corp. in a report on Monday, June 20th. Sanford C. Bernstein assumed coverage on shares of Centene Corp. in a report on Thursday, June 16th. They set a market perform rating and a $76.00 price target on the stock. Cowen and Company restated a buy rating on shares of Centene Corp. in a report on Monday, June 20th. Morgan Stanley upgraded shares of Centene Corp. from an equal weight rating to an overweight rating and boosted their price target for the stock from $84.00 to $86.00 in a report on Wednesday, June 29th. Finally, Vetr cut shares of Centene Corp. from a strong-buy rating to a buy rating and set a $81.00 price target on the stock. in a report on Tuesday, July 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the company. The stock has an average rating of Buy and an average target price of $80.76.
Centene Corp. (NYSE:CNC) opened at 60.06 on Tuesday. The firm’s 50 day moving average is $65.97 and its 200-day moving average is $65.75. Centene Corp. has a 12 month low of $47.36 and a 12 month high of $75.57. The firm has a market cap of $10.25 billion, a price-to-earnings ratio of 23.18 and a beta of 0.95.
Centene Corp. (NYSE:CNC) last released its quarterly earnings results on Tuesday, July 26th. The company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.20. Centene Corp. had a net margin of 1.19% and a return on equity of 14.27%. The business had revenue of $10.90 billion for the quarter, compared to analysts’ expectations of $10.80 billion. During the same period in the previous year, the company earned $0.72 earnings per share. The firm’s revenue for the quarter was up 97.9% compared to the same quarter last year. On average, equities analysts forecast that Centene Corp. will post $4.37 EPS for the current year.
In other Centene Corp. news, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $663,600.00. The disclosure for this sale can be found here. 4.50% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the company. National Pension Service boosted its position in Centene Corp. by 9.1% in the third quarter. National Pension Service now owns 146,418 shares of the company’s stock worth $9,804,000 after buying an additional 12,198 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Centene Corp. by 8.6% in the third quarter. Nisa Investment Advisors LLC now owns 101,278 shares of the company’s stock worth $6,782,000 after buying an additional 8,000 shares in the last quarter. Capstone Asset Management Co. boosted its position in Centene Corp. by 4.3% in the third quarter. Capstone Asset Management Co. now owns 33,317 shares of the company’s stock worth $2,231,000 after buying an additional 1,360 shares in the last quarter. Raymond James Trust N.A. boosted its position in Centene Corp. by 10.0% in the third quarter. Raymond James Trust N.A. now owns 11,526 shares of the company’s stock worth $772,000 after buying an additional 1,048 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its position in Centene Corp. by 38.8% in the third quarter. Oregon Public Employees Retirement Fund now owns 43,388 shares of the company’s stock worth $2,905,000 after buying an additional 12,128 shares in the last quarter. 92.90% of the stock is owned by institutional investors and hedge funds.
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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