Centene Corp. (CNC) Stock Rating Reaffirmed by Jefferies Group
Centene Corp. (NYSE:CNC)‘s stock had its “buy” rating restated by Jefferies Group in a research report issued on Sunday. They currently have a $82.00 price objective on the stock. Jefferies Group’s price objective points to a potential upside of 36.53% from the stock’s previous close.
Several other research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Centene Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, October 11th. Leerink Swann reaffirmed a “hold” rating on shares of Centene Corp. in a report on Tuesday, October 4th. Credit Suisse Group AG cut their price target on shares of Centene Corp. from $78.00 to $76.00 and set an “outperform” rating on the stock in a report on Wednesday, October 5th. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Centene Corp. in a report on Thursday, September 29th. Finally, Evercore ISI initiated coverage on shares of Centene Corp. in a report on Thursday, September 22nd. They issued a “buy” rating and a $79.00 price target on the stock. One research 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. Centene Corp. presently has a consensus rating of “Buy” and an average target price of $80.76.
Shares of Centene Corp. (NYSE:CNC) opened at 60.06 on Friday. The stock has a 50 day moving average of $65.97 and a 200 day moving average of $65.75. The stock has a market cap of $10.25 billion, a P/E ratio of 23.18 and a beta of 0.94. Centene Corp. has a one year low of $47.36 and a one year high of $75.57.
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 business earned $10.90 billion during the quarter, compared to the consensus estimate of $10.80 billion. Centene Corp. had a net margin of 1.19% and a return on equity of 14.27%. The business’s quarterly revenue was up 97.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.72 earnings per share. Equities analysts expect that Centene Corp. will post $4.37 EPS for the current fiscal year.
In other news, EVP Kenneth Rone Baldwin sold 6,000 shares of the firm’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $66.58, for a total transaction of $399,480.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Carol Goldman sold 10,000 shares of the firm’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $66.36, for a total transaction of $663,600.00. The disclosure for this sale can be found here. 4.50% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the stock. Duncker Streett & Co. Inc. raised its position in 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 during the period. Robecosam AG purchased a new stake in Centene Corp. during the first quarter worth approximately $107,000. Quadrant Capital Group LLC raised its stake in 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. Tompkins Financial Corp raised 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. Finally, Financial Engines Advisors L.L.C. purchased a new stake in Centene Corp. during the second quarter worth approximately $163,000. Institutional investors own 92.91% of the company’s stock.
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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