Cantor Fitzgerald Reiterates “Buy” Rating for Centene Corp. (CNC)
Centene Corp. (NYSE:CNC)‘s stock had its “buy” rating reissued by equities researchers at Cantor Fitzgerald in a note issued to investors on Thursday.
CNC has been the subject of several other research reports. FBR & Co reaffirmed a “buy” rating on shares of Centene Corp. in a research note on Monday, June 20th. Morgan Stanley raised shares of Centene Corp. from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $84.00 to $86.00 in a research note on Wednesday, June 29th. Wedbush reaffirmed an “outperform” rating and set a $85.00 price objective on shares of Centene Corp. in a research note on Wednesday, September 7th. Leerink Swann reiterated an “outperform” rating and set a $80.00 target price (up from $78.00) on shares of Centene Corp. in a research report on Monday, June 20th. Finally, Barclays PLC upgraded shares of Centene Corp. from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $76.00 to $82.00 in a research report on Monday, June 20th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $80.88.
Centene Corp. (NYSE:CNC) opened at 66.96 on Thursday. Centene Corp. has a 12 month low of $47.36 and a 12 month high of $75.57. The firm has a 50-day moving average of $68.20 and a 200 day moving average of $65.65. The firm has a market capitalization of $11.43 billion, a PE ratio of 25.84 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 EPS for the quarter, beating the 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 net margin of 1.19% and a return on equity of 14.27%. Centene Corp.’s revenue for the quarter was up 97.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.72 earnings per share. Equities research analysts forecast that Centene Corp. will post $4.37 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of CNC. Robecosam AG bought a new position in shares of Centene Corp. during the first quarter worth about $107,000. Duncker Streett & Co. Inc. increased its position in shares of Centene Corp. by 28.0% in the second quarter. Duncker Streett & Co. Inc. now owns 1,600 shares of the company’s stock worth $114,000 after buying an additional 350 shares during the last quarter. IFP Advisors Inc increased its position in shares of Centene Corp. by 6.9% in the first quarter. IFP Advisors Inc now owns 1,960 shares of the company’s stock worth $121,000 after buying an additional 127 shares during the last quarter. Quadrant Capital Group LLC increased its position in shares of Centene Corp. by 11.0% in the second quarter. Quadrant Capital Group LLC now owns 2,170 shares of the company’s stock worth $151,000 after buying an additional 215 shares during the last quarter. Finally, Tompkins Financial Corp increased 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 worth $159,000 after buying an additional 1,585 shares in the last quarter. 92.92% of the stock is currently owned by institutional investors and hedge funds.
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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