Centene Corp. (NYSE:CNC) Receives Consensus Recommendation of “Buy” from Analysts
Centene Corp. (NYSE:CNC) has been assigned a consensus recommendation of “Buy” from the eighteen analysts that are covering the stock. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $81.08.
Several analysts have weighed in on CNC shares. Zacks Investment Research downgraded Centene Corp. from a “buy” rating to a “hold” rating in a research note on Monday, August 1st. FBR & Co reiterated an “outperform” rating and set a $90.00 price target on shares of Centene Corp. in a research report on Tuesday, July 26th. Wells Fargo & Co. reiterated a “buy” rating on shares of Centene Corp. in a research report on Monday, June 20th. Credit Suisse Group AG reiterated a “buy” rating on shares of Centene Corp. in a research report 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 target on the stock. in a research report on Tuesday, September 6th.
Hedge funds have recently added to or reduced their stakes in the stock. Duncker Streett & Co. Inc. boosted its stake 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 in the last quarter. Robecosam AG bought a new stake in shares of Centene Corp. during the first quarter worth $107,000. IFP Advisors Inc boosted its stake 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 in the last quarter. Quadrant Capital Group LLC boosted its stake 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 in the last quarter. Finally, Tompkins Financial Corp boosted its stake in shares of 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 owned by hedge funds and other institutional investors.
Centene Corp. (NYSE:CNC) traded down 4.39% during trading on Monday, reaching $64.02. The company had a trading volume of 1,476,934 shares. Centene Corp. has a 12 month low of $47.36 and a 12 month high of $75.57. The stock has a 50 day moving average price of $68.20 and a 200 day moving average price of $65.65. The firm has a market capitalization of $10.93 billion, a price-to-earnings ratio of 24.71 and a beta of 0.95.
Centene Corp. (NYSE:CNC) last announced its earnings results 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. The firm had revenue of $10.90 billion for the quarter, compared to the consensus estimate of $10.80 billion. Centene Corp. had a return on equity of 14.27% and a net margin of 1.19%. The firm’s revenue for the quarter was up 97.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.72 EPS. On average, equities research analysts predict that Centene Corp. will post $4.37 earnings per share for the current year.
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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