Centene Corp. (NYSE:CNC)‘s stock had its “buy” rating restated by analysts at Cantor Fitzgerald in a research note issued on Thursday.
Several other brokerages have also recently weighed in on CNC. Zacks Investment Research cut Centene Corp. from a “buy” rating to a “hold” rating in a research note on Monday, August 1st. FBR & Co restated an “outperform” rating and set a $90.00 price objective on shares of Centene Corp. in a research note on Tuesday, July 26th. Wells Fargo & Co. restated a “buy” rating on shares of Centene Corp. in a research note on Monday, June 20th. Credit Suisse Group AG restated a “buy” rating on shares of Centene Corp. in a research note on Tuesday, June 28th. Finally, Leerink Swann cut Centene Corp. from an “outperform” rating to a “market perform” rating and set a $80.00 price objective on the stock. in a research note on Tuesday, September 6th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $80.88.
Shares of Centene Corp. (NYSE:CNC) traded down 2.16% during midday trading on Thursday, hitting $67.55. 244,657 shares of the stock were exchanged. The stock’s 50-day moving average price is $68.34 and its 200-day moving average price is $65.59. Centene Corp. has a 1-year low of $47.36 and a 1-year high of $75.57. The firm has a market capitalization of $11.53 billion, a price-to-earnings ratio of 26.07 and a beta of 1.00.
Centene Corp. (NYSE:CNC) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.20. Centene Corp. had a return on equity of 14.27% and a net margin of 1.19%. The business had revenue of $10.90 billion for the quarter, compared to analysts’ expectations of $10.80 billion. During the same period last year, the business earned $0.72 EPS. The business’s revenue was up 97.9% on a year-over-year basis. On average, 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 firm’s stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $71.00, for a total value of $426,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.50% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of CNC. Winslow Capital Management LLC bought a new position in shares of Centene Corp. during the second quarter valued at approximately $293,813,000. State Street Corp increased its position in shares of Centene Corp. by 82.3% in the first quarter. State Street Corp now owns 7,158,347 shares of the company’s stock valued at $440,733,000 after buying an additional 3,230,862 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Centene Corp. by 72.8% in the first quarter. JPMorgan Chase & Co. now owns 2,919,446 shares of the company’s stock valued at $179,748,000 after buying an additional 1,230,263 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of Centene Corp. by 30.1% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 4,534,338 shares of the company’s stock valued at $279,179,000 after buying an additional 1,048,631 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its position in shares of Centene Corp. by 186.6% in the second quarter. 1832 Asset Management L.P. now owns 1,608,591 shares of the company’s stock valued at $192,191,000 after buying an additional 1,047,361 shares in the last quarter. Institutional investors and hedge funds own 92.92% of the company’s stock.
About Centene Corp.
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.
Receive News & Ratings for Centene Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Centene Corp. and related companies with MarketBeat.com's FREE daily email newsletter.