Centene Corporation (CNC) Given Consensus Rating of “Buy” by Brokerages
Shares of Centene Corporation (NYSE:CNC) have been assigned an average recommendation of “Buy” from the twenty-two brokerages that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, seventeen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $104.21.
Several analysts recently weighed in on CNC shares. Cantor Fitzgerald reissued a “buy” rating and set a $115.00 price target on shares of Centene in a report on Monday, December 18th. Jefferies Group lifted their price target on Centene from $112.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, December 18th. Oppenheimer lifted their price target on Centene from $111.00 to $122.00 and gave the stock an “outperform” rating in a report on Wednesday, December 20th. ValuEngine raised Centene from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, Zacks Investment Research cut Centene from a “strong-buy” rating to a “hold” rating in a report on Friday, December 22nd.
In other news, Director Robert K. Ditmore sold 4,167 shares of the business’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $90.42, for a total transaction of $376,780.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Keith H. Williamson sold 5,000 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $100.11, for a total value of $500,550.00. The disclosure for this sale can be found here. Insiders sold a total of 27,917 shares of company stock valued at $2,777,255 over the last ninety days. Insiders own 3.00% of the company’s stock.
Centene (CNC) opened at $109.48 on Monday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.99 and a current ratio of 0.99. Centene has a one year low of $61.37 and a one year high of $109.70. The company has a market capitalization of $18,892.58, a P/E ratio of 22.43, a PEG ratio of 1.37 and a beta of 0.70.
Centene (NYSE:CNC) last issued its earnings results on Tuesday, October 24th. The company reported $1.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.11. The company had revenue of $11.90 billion during the quarter, compared to the consensus estimate of $11.75 billion. Centene had a return on equity of 14.79% and a net margin of 1.81%. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.12 EPS. research analysts anticipate that Centene will post 5 earnings per share for the current fiscal year.
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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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