Centene Corporation (NYSE:CNC) – Stock analysts at Oppenheimer increased their Q4 2018 earnings estimates for Centene in a research note issued to investors on Tuesday. Oppenheimer analyst M. Wiederhorn now anticipates that the company will post earnings of $1.38 per share for the quarter, up from their prior estimate of $1.36. Oppenheimer has a “Outperform” rating and a $122.00 price target on the stock. Oppenheimer also issued estimates for Centene’s Q4 2019 earnings at $1.61 EPS.
Other analysts also recently issued research reports about the stock. Morgan Stanley raised their price target on shares of Centene from $118.00 to $126.00 and gave the stock an “overweight” rating in a report on Wednesday. ValuEngine upgraded shares of Centene from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Cowen restated a “buy” rating and set a $115.00 price target on shares of Centene in a report on Tuesday, October 24th. Credit Suisse Group raised their price target on shares of Centene from $110.00 to $112.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Jefferies Group raised their price target on shares of Centene from $112.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, December 18th. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. Centene currently has a consensus rating of “Buy” and a consensus price target of $108.63.
Centene (NYSE:CNC) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.03. The business had revenue of $12.81 billion during the quarter, compared to the consensus estimate of $12.25 billion. Centene had a net margin of 1.71% and a return on equity of 13.68%. The business’s revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.19 EPS.
A number of hedge funds have recently modified their holdings of CNC. GSA Capital Partners LLP purchased a new position in Centene in the 2nd quarter valued at approximately $283,000. Janus Henderson Group PLC boosted its position in Centene by 320.5% in the 2nd quarter. Janus Henderson Group PLC now owns 102,870 shares of the company’s stock valued at $8,216,000 after buying an additional 78,409 shares during the period. Gotham Asset Management LLC boosted its position in Centene by 3.4% in the 2nd quarter. Gotham Asset Management LLC now owns 26,192 shares of the company’s stock valued at $2,092,000 after buying an additional 857 shares during the period. State Street Corp boosted its position in Centene by 0.5% in the 2nd quarter. State Street Corp now owns 7,154,348 shares of the company’s stock valued at $571,504,000 after buying an additional 35,040 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Centene in the 2nd quarter valued at approximately $455,000. 92.41% of the stock is owned by institutional investors.
In other Centene news, EVP Keith H. Williamson sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $100.11, for a total value of $500,550.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jesse N. Hunter sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $98.73, for a total transaction of $987,300.00. The disclosure for this sale can be found here. Insiders have sold a total of 23,750 shares of company stock valued at $2,400,475 in the last ninety days. 3.00% of the stock is currently owned by corporate insiders.
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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