Centene Corporation (CNC) Given Average Recommendation of “Buy” by Analysts
Shares of Centene Corporation (NYSE:CNC) have been given an average rating of “Buy” by the twenty-two analysts that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $87.33.
A number of brokerages have recently commented on CNC. Zacks Investment Research lowered shares of Centene Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 4th. BidaskClub lowered shares of Centene Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Jefferies Group LLC reiterated a “buy” rating and set a $98.00 price target on shares of Centene Corporation in a report on Thursday, July 27th. Piper Jaffray Companies reiterated a “buy” rating and set a $105.00 price target on shares of Centene Corporation in a report on Thursday, July 27th. Finally, ValuEngine upgraded shares of Centene Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 27th.
In related news, Director Robert K. Ditmore sold 4,167 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $82.59, for a total transaction of $344,152.53. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Christopher D. Bowers sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $79.43, for a total transaction of $317,720.00. The disclosure for this sale can be found here. Insiders have sold a total of 53,578 shares of company stock worth $4,264,757 over the last 90 days. 3.00% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of CNC. Mn Services Vermogensbeheer B.V. raised its stake in Centene Corporation by 3.7% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 4,530 shares of the company’s stock worth $302,000 after buying an additional 160 shares during the period. Candriam Luxembourg S.C.A. raised its stake in Centene Corporation by 19.2% in the first quarter. Candriam Luxembourg S.C.A. now owns 36,167 shares of the company’s stock worth $2,577,000 after buying an additional 5,836 shares during the period. V Wealth Management LLC raised its stake in Centene Corporation by 40.0% in the first quarter. V Wealth Management LLC now owns 5,344 shares of the company’s stock worth $380,000 after buying an additional 1,527 shares during the period. State of Alaska Department of Revenue purchased a new stake in Centene Corporation during the first quarter worth $409,000. Finally, Oakbrook Investments LLC purchased a new stake in Centene Corporation during the first quarter worth $1,040,000. 93.09% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Centene Corporation (NYSE CNC) traded down 0.11% on Friday, hitting $83.53. The stock had a trading volume of 129,132 shares. Centene Corporation has a 12-month low of $50.00 and a 12-month high of $87.94. The firm has a market capitalization of $14.41 billion, a P/E ratio of 18.33 and a beta of 0.66. The company has a 50 day moving average of $82.33 and a 200-day moving average of $75.05.
Centene Corporation (NYSE:CNC) last issued its quarterly earnings results on Tuesday, July 25th. The company reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.29. The company had revenue of $11.95 billion for the quarter, compared to analyst estimates of $11.69 billion. Centene Corporation had a net margin of 1.72% and a return on equity of 14.62%. Centene Corporation’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.29 earnings per share. Equities analysts predict that Centene Corporation will post $4.92 EPS for the current fiscal year.
Centene Corporation Company Profile
Centene Corporation is a healthcare company. The Company provides a portfolio of services to government sponsored healthcare programs, focusing on under-insured and uninsured individuals. The Company operates through two segments: Managed Care and Specialty Services. The Company’s Managed Care segment provides health plan coverage to individuals, through government subsidized programs, including Medicaid, the State Children’s Health Insurance Program (CHIP), Long Term Care, Foster Care, dual-eligible individuals (Duals) and the Supplemental Security Income Program, also known as the Aged, Blind or Disabled Program (ABD), Medicare, and Health Insurance Marketplace.
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