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. “
CNC has been the subject of a number of other research reports. FBR & Co reissued a buy rating on shares of Centene Corp. in a research note on Monday, June 20th. Morgan Stanley raised Centene Corp. from an equal weight rating to an overweight rating and boosted their target price for the company from $84.00 to $86.00 in a research note on Wednesday, June 29th. Wedbush reissued an outperform rating and issued a $85.00 target price on shares of Centene Corp. in a research note on Wednesday, September 7th. Leerink Swann reissued an outperform rating and issued a $80.00 target price (up previously from $78.00) on shares of Centene Corp. in a research note on Monday, June 20th. Finally, Barclays PLC upgraded Centene Corp. from an equal weight rating to an overweight rating and boosted their price target for the company from $76.00 to $82.00 in a report on Monday, June 20th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the company. The company has an average rating of Buy and an average price target of $80.76.
Shares of Centene Corp. (NYSE:CNC) traded down 0.21% on Tuesday, reaching $61.57. The company’s stock had a trading volume of 79,580 shares. Centene Corp. has a 12-month low of $47.36 and a 12-month high of $75.57. The company has a market cap of $10.51 billion, a P/E ratio of 23.76 and a beta of 0.94. The company’s 50 day moving average price is $66.69 and its 200 day moving average price is $65.84.
Centene Corp. (NYSE:CNC) last released its earnings results on Tuesday, July 26th. The company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.20. Centene Corp. had a return on equity of 14.27% and a net margin of 1.19%. The company earned $10.90 billion during the quarter, compared to analyst estimates of $10.80 billion. During the same quarter in the previous year, the company posted $0.72 EPS. Centene Corp.’s revenue for the quarter was up 97.9% on a year-over-year basis. Analysts forecast that Centene Corp. will post $4.37 EPS for the current fiscal year.
In related news, EVP Kenneth Rone Baldwin sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, October 3rd. The stock was 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 SEC, which is available through the SEC website. Also, VP Carol Goldman sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $66.36, for a total value of $663,600.00. The disclosure for this sale can be found here. 4.50% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Duncker Streett & Co. Inc. boosted its position 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 period. Robecosam AG acquired a new position in Centene Corp. during the first quarter valued at about $107,000. IFP Advisors Inc boosted its position in Centene Corp. by 6.9% in the first quarter. IFP Advisors Inc now owns 1,960 shares of the company’s stock valued at $121,000 after buying an additional 127 shares during the period. Quadrant Capital Group LLC boosted its position 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 period. Finally, Tompkins Financial Corp boosted its position 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 period. 92.91% of the stock is currently 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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