Centene Corporation (NYSE:CNC) – Cantor Fitzgerald issued their FY2019 EPS estimates for shares of Centene in a report released on Wednesday. Cantor Fitzgerald analyst S. Halper forecasts that the company will post earnings per share of $8.50 for the year. Cantor Fitzgerald has a “Overweight” rating and a $125.00 price objective on the stock.
Centene (NYSE:CNC) last posted its earnings results on Tuesday, February 6th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.03. Centene had a net margin of 1.71% and a return on equity of 13.68%. The business had revenue of $12.81 billion for the quarter, compared to analyst estimates of $12.25 billion. During the same period in the prior year, the company posted $1.19 EPS. The company’s revenue for the quarter was up 7.5% on a year-over-year basis.
Centene (NYSE CNC) traded up $1.30 during mid-day trading on Friday, hitting $101.66. 2,648,588 shares of the stock traded hands, compared to its average volume of 1,429,018. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.99 and a current ratio of 0.93. Centene has a twelve month low of $65.03 and a twelve month high of $112.42. The stock has a market cap of $17,540.00, a price-to-earnings ratio of 21.68, a P/E/G ratio of 1.04 and a beta of 0.71.
In other Centene news, EVP Jesse N. Hunter sold 10,000 shares of the stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $98.73, for a total value of $987,300.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Keith H. Williamson sold 5,000 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $100.11, for a total transaction of $500,550.00. The disclosure for this sale can be found here. Insiders sold a total of 23,750 shares of company stock worth $2,400,475 over the last ninety days. 3.00% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in CNC. Ameriprise Financial Inc. raised its holdings in Centene by 47.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 5,181,047 shares of the company’s stock valued at $502,999,000 after acquiring an additional 1,676,688 shares during the last quarter. Epoch Investment Partners Inc. raised its holdings in Centene by 298.0% in the 3rd quarter. Epoch Investment Partners Inc. now owns 997,346 shares of the company’s stock valued at $96,513,000 after acquiring an additional 746,783 shares during the last quarter. BlackRock Inc. raised its holdings in Centene by 4.6% in the 4th quarter. BlackRock Inc. now owns 13,939,406 shares of the company’s stock valued at $1,406,209,000 after acquiring an additional 616,914 shares during the last quarter. Acadian Asset Management LLC raised its holdings in Centene by 68.2% in the 4th quarter. Acadian Asset Management LLC now owns 1,239,278 shares of the company’s stock valued at $125,021,000 after acquiring an additional 502,329 shares during the last quarter. Finally, AGF Investments Inc. acquired a new stake in Centene in the 4th quarter valued at about $49,577,000. Institutional investors own 92.41% of the company’s stock.
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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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