CNC has been the topic of several other reports. Zacks Investment Research lowered Centene Corp. from a hold rating to a sell rating in a research report on Tuesday, October 11th. Leerink Swann reaffirmed a hold rating on shares of Centene Corp. in a research report on Tuesday, October 4th. Cantor Fitzgerald reaffirmed a buy rating on shares of Centene Corp. in a research report on Thursday, September 29th. FBR & Co reaffirmed a buy rating on shares of Centene Corp. in a research report on Thursday, September 1st. Finally, Credit Suisse Group AG reaffirmed a buy rating and set a $78.00 target price on shares of Centene Corp. in a research report on Tuesday, September 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. 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 Friday. The stock has a market capitalization of $10.25 billion, a PE ratio of 23.18 and a beta of 0.94. Centene Corp. has a 52-week low of $47.36 and a 52-week high of $75.57. The stock’s 50 day moving average price is $65.97 and its 200-day moving average price is $65.75.
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, topping analysts’ consensus estimates of $1.09 by $0.20. The firm 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 firm’s quarterly revenue was up 97.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.72 EPS. On average, equities analysts expect that Centene Corp. will post $4.37 EPS for the current fiscal year.
In other news, VP Carol Goldman sold 10,000 shares of the firm’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 filing with the SEC, which is available at the SEC website. Also, EVP Kenneth Rone Baldwin sold 6,000 shares of the firm’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. Company insiders own 4.50% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. State Street Corp increased its position in 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 during the period. William Blair Investment Management LLC increased its position in Centene Corp. by 1.9% in the second quarter. William Blair Investment Management LLC now owns 4,192,605 shares of the company’s stock valued at $299,226,000 after buying an additional 78,481 shares during the period. Winslow Capital Management LLC purchased a new position in Centene Corp. during the second quarter valued at $293,813,000. Jennison Associates LLC increased its position in Centene Corp. by 1.2% in the second quarter. Jennison Associates LLC now owns 3,806,765 shares of the company’s stock valued at $271,689,000 after buying an additional 43,675 shares during the period. Finally, BlackRock Fund Advisors increased its position in Centene Corp. by 1.4% in the second quarter. BlackRock Fund Advisors now owns 3,134,865 shares of the company’s stock valued at $223,735,000 after buying an additional 43,115 shares during the period. Institutional investors and hedge funds own 92.91% 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.
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