Centene Corporation (CNC) Research Coverage Started at Credit Suisse Group AG
Investment analysts at Credit Suisse Group AG initiated coverage on shares of Centene Corporation (NYSE:CNC) in a research note issued on Thursday. The brokerage set a “neutral” rating and a $102.00 price target on the stock. Credit Suisse Group AG’s target price indicates a potential upside of 8.89% from the company’s current price.
CNC has been the topic of several other reports. Jefferies Group LLC restated a “buy” rating and set a $94.00 price target on shares of Centene Corporation in a research note on Friday, July 14th. Deutsche Bank AG restated a “buy” rating and set a $111.00 price target (up from $95.00) on shares of Centene Corporation in a research note on Thursday, September 14th. Citigroup Inc. boosted their price target on Centene Corporation from $80.00 to $89.00 and gave the company a “sell” rating in a research note on Wednesday, July 26th. UBS AG restated a “buy” rating and set a $95.00 price target (up from $88.00) on shares of Centene Corporation in a research note on Wednesday, July 26th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of Centene Corporation in a research note on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $97.53.
Centene Corporation (NYSE:CNC) last posted its quarterly earnings data on Tuesday, October 24th. The company reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.11. Centene Corporation had a return on equity of 14.79% and a net margin of 1.81%. The business had revenue of $11.90 billion during the quarter, compared to analysts’ expectations of $11.75 billion. During the same quarter in the previous year, the firm earned $1.12 EPS. The firm’s revenue was up 9.7% compared to the same quarter last year.
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In other news, Director Robert K. Ditmore sold 4,167 shares of the business’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $90.42, for a total value of $376,780.14. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 3.00% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Centene Corporation by 4.9% in the 2nd quarter. Vanguard Group Inc. now owns 16,726,500 shares of the company’s stock worth $1,336,113,000 after acquiring an additional 774,474 shares in the last quarter. State Street Corp boosted its holdings in shares of Centene Corporation by 0.5% in the 2nd quarter. State Street Corp now owns 7,154,348 shares of the company’s stock worth $571,504,000 after acquiring an additional 35,040 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Centene Corporation by 12.4% in the 2nd quarter. Wells Fargo & Company MN now owns 4,193,466 shares of the company’s stock worth $334,973,000 after acquiring an additional 462,936 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Centene Corporation by 318.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 3,504,359 shares of the company’s stock worth $279,882,000 after acquiring an additional 2,667,189 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Centene Corporation by 13.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,249,254 shares of the company’s stock worth $179,673,000 after acquiring an additional 259,662 shares in the last quarter. 92.86% of the stock is currently owned by institutional investors and hedge funds.
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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