Centene Corporation (NYSE: CNC) recently received a number of ratings updates from brokerages and research firms:

  • 9/29/2017 – Centene Corporation had its “buy” rating reaffirmed by analysts at Oppenheimer Holdings Inc.. They now have a $105.00 price target on the stock.
  • 9/21/2017 – Centene Corporation had its price target raised by analysts at Morgan Stanley from $94.00 to $103.00. They now have an “overweight” rating on the stock.
  • 9/15/2017 – Centene Corporation was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $107.00 price target on the stock. According to Zacks, “Year to date, Centene’s shares have outperformed the industry. The company’s strong and consistent performance is likely to have generated confidence among the investors. It has seen substantial inorganic growth in the last five years. The acquisition of Health Net in 2016 bolstered the company’s growth, expansion and asset base. Its solid financial position provides a major boost to its capital deployment initiatives. The company’s strong Managed care segment also contributes to its strong results. The stock has seen the Zacks Consensus Estimate for the current year being revised upward by 3.4% in the last 60 days.”
  • 9/14/2017 – Centene Corporation had its “buy” rating reaffirmed by analysts at Deutsche Bank AG. They now have a $111.00 price target on the stock, up previously from $95.00.
  • 9/13/2017 – Centene Corporation had its price target raised by analysts at Cantor Fitzgerald to $107.00. They now have an “overweight” rating on the stock.
  • 9/13/2017 – Centene Corporation had its “outperform” rating reaffirmed by analysts at Cowen and Company. They now have a $105.00 price target on the stock, up previously from $77.00.
  • 9/13/2017 – Centene Corporation had its “market perform” rating reaffirmed by analysts at Leerink Swann. They now have a $90.00 price target on the stock, up previously from $78.00.
  • 9/1/2017 – Centene Corporation had its “buy” rating reaffirmed by analysts at Piper Jaffray Companies. They now have a $105.00 price target on the stock.
  • 8/24/2017 – Centene Corporation was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 8/4/2017 – Centene Corporation was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Year to date, Centene’s shares have outperformed the industry. The company’s strong and consistent performance is likely to have generated confidence among the investors. It has seen substantial inorganic growth in the last five years. The acquisition of Health Net in 2016 bolstered the company’s growth, expansion and asset base. Its solid financial position provides a major boost to its capital deployment initiatives. The company’s strong Managed care segment also contributes to its strong results. Its second-quarter 2017 earnings per share surpassed the Zacks Consensus Estimate and improved year over year on the back of higher revenues. However, it suffers from rising level of debt and increasing borrowing cost that keeps draining the bottom-line. Growing  acquisition related expenses also continue to bother.”

Centene Corporation (NYSE CNC) traded up 0.01% during mid-day trading on Tuesday, hitting $96.97. 971,292 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $89.47 and a 200 day moving average of $79.98. Centene Corporation has a 52 week low of $50.00 and a 52 week high of $98.72. The stock has a market capitalization of $16.72 billion, a P/E ratio of 21.28 and a beta of 0.68.

Centene Corporation (NYSE:CNC) last released its quarterly earnings results on Tuesday, July 25th. The company reported $1.59 EPS for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.29. Centene Corporation had a return on equity of 14.62% and a net margin of 1.72%. The business had revenue of $11.95 billion for the quarter, compared to analyst estimates of $11.69 billion. During the same period in the prior year, the company earned $1.29 EPS. Centene Corporation’s revenue for the quarter was up 9.7% on a year-over-year basis. Equities analysts forecast that Centene Corporation will post $4.92 earnings per share for the current fiscal year.

In other Centene Corporation news, Chairman Michael F. Neidorff sold 35,000 shares of the business’s stock in a transaction dated Thursday, July 6th. The shares were sold at an average price of $80.26, for a total value of $2,809,100.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert K. Ditmore sold 4,167 shares of the business’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $82.59, for a total transaction of $344,152.53. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,167 shares of company stock valued at $3,470,973. Corporate insiders own 3.00% of the company’s stock.

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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