Centene Corp.’s (CNC) “Hold” Rating Reaffirmed at Leerink Swann
A number of other research analysts have also recently commented on CNC. Jefferies Group reaffirmed a buy rating and issued a $80.00 target price on shares of Centene Corp. in a research report on Wednesday, June 8th. Sanford C. Bernstein assumed coverage on shares of Centene Corp. in a research note on Thursday, June 16th. They set a market perform rating and a $76.00 price target on the stock. Barclays PLC upgraded shares of Centene Corp. from an equal weight rating to an overweight rating and boosted their price target for the stock from $76.00 to $82.00 in a research note on Monday, June 20th. FBR & Co reiterated a buy rating on shares of Centene Corp. in a research note on Monday, June 20th. Finally, Oppenheimer Holdings Inc. reiterated an outperform rating and set a $89.00 price target on shares of Centene Corp. in a research note on Monday, June 20th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $80.76.
Centene Corp. (NYSE:CNC) traded down 0.313% during mid-day trading on Tuesday, reaching $62.105. 1,258,617 shares of the company were exchanged. The stock has a 50-day moving average of $67.76 and a 200 day moving average of $65.84. 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 $10.60 billion, a P/E ratio of 23.970 and a beta of 0.94.
Centene Corp. (NYSE:CNC) last posted its earnings results on Tuesday, July 26th. The company reported $1.29 EPS for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.20. Centene Corp. had a net margin of 1.19% and a return on equity of 14.27%. The company had revenue of $10.90 billion for the quarter, compared to analysts’ expectations of $10.80 billion. During the same quarter in the prior year, the company posted $0.72 earnings per share. Centene Corp.’s revenue for the quarter was up 97.9% compared to the same quarter last year. Equities research analysts forecast that Centene Corp. will post $4.37 earnings per share for the current year.
In related news, EVP Kenneth Rone Baldwin sold 6,000 shares of the stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $66.58, for a total transaction of $399,480.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Carol Goldman sold 10,000 shares of the stock in a transaction on Monday, October 3rd. The stock was 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.
Several large investors have recently modified their holdings of CNC. Duncker Streett & Co. Inc. increased 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 valued at $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 valued at $107,000. IFP Advisors Inc increased 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 valued at $121,000 after buying an additional 127 shares in the last quarter. Quadrant Capital Group LLC increased 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 valued at $151,000 after buying an additional 215 shares in the last quarter. Finally, Tompkins Financial Corp increased 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 valued at $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. 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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