Centene Corp. (NYSE:CNC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

According to Zacks, “Centene Corporation provides managed care programs and related services to individuals receiving benefits under Medicaid, including Supplemental Security Income, and the State Children’s Health Insurance Program. “

Other equities analysts have also issued research reports about the company. Cowen and Company restated a “buy” rating on shares of Centene Corp. in a research note on Monday, June 20th. Wells Fargo & Co. restated a “buy” rating on shares of Centene Corp. in a research note on Monday, June 20th. FBR & Co restated a “buy” rating on shares of Centene Corp. in a research note on Monday, June 20th. Vetr lowered Centene Corp. from a “strong-buy” rating to a “buy” rating and set a $81.00 price objective on the stock. in a research note on Wednesday, July 20th. Finally, Credit Suisse Group AG restated a “buy” rating on shares of Centene Corp. in a research note on Tuesday, June 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $80.76.

Analyst Recommendations for Centene Corp. (NYSE:CNC)

Centene Corp. (NYSE:CNC) opened at 60.83 on Tuesday. The firm has a market cap of $10.39 billion, a price-to-earnings ratio of 23.48 and a beta of 0.94. Centene Corp. has a 1-year low of $47.36 and a 1-year high of $75.57. The firm has a 50-day moving average price of $66.43 and a 200-day moving average price of $65.80.

Centene Corp. (NYSE:CNC) last announced its earnings results on Tuesday, July 26th. The company reported $1.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.09 by $0.20. The company had revenue of $10.90 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the company earned $0.72 earnings per share. On average, analysts expect that Centene Corp. will post $4.37 earnings per share for the current fiscal year.

In other news, EVP Kenneth Rone Baldwin sold 6,000 shares of Centene Corp. stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $66.58, for a total value of $399,480.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Carol Goldman sold 10,000 shares of Centene Corp. stock in a transaction dated 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. Company insiders own 4.50% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of CNC. Menta Capital LLC acquired a new position in Centene Corp. during the first quarter valued at $757,000. Advisor Partners LLC raised its position in Centene Corp. by 32.9% in the first quarter. Advisor Partners LLC now owns 4,309 shares of the company’s stock valued at $265,000 after buying an additional 1,066 shares during the period. NN Investment Partners Holdings N.V. acquired a new position in Centene Corp. during the first quarter valued at $1,073,000. Acrospire Investment Management LLC acquired a new position in Centene Corp. during the first quarter valued at $237,000. Finally, JPMorgan Chase & Co. raised its position in 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 during the period. 92.91% 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.

5 Day Chart for NYSE:CNC

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