Centene (CNC) Given “Market Perform” Rating at Leerink Swann

Centene (NYSE:CNC)‘s stock had its “market perform” rating reissued by investment analysts at Leerink Swann in a report issued on Tuesday. They presently have a $90.00 price objective on the stock, down from their prior price objective of $100.00. Leerink Swann’s price objective points to a potential downside of 12.62% from the stock’s previous close.

CNC has been the topic of a number of other research reports. Credit Suisse Group initiated coverage on shares of Centene in a report on Thursday, November 2nd. They set a “neutral” rating and a $102.00 price target on the stock. Oppenheimer lifted their price target on shares of Centene from $111.00 to $122.00 and gave the stock an “outperform” rating in a report on Wednesday, December 20th. BMO Capital Markets initiated coverage on shares of Centene in a report on Tuesday, October 17th. They set an “outperform” rating and a $120.00 price target on the stock. Cantor Fitzgerald reiterated a “buy” rating and set a $107.00 price target on shares of Centene in a report on Tuesday, October 24th. Finally, ValuEngine upgraded shares of Centene from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $110.28.

Shares of Centene (NYSE CNC) traded down $0.09 during trading hours on Tuesday, hitting $103.00. 1,291,114 shares of the stock were exchanged, compared to its average volume of 1,410,000. The firm has a market capitalization of $17,770.00, a price-to-earnings ratio of 21.96, a PEG ratio of 0.96 and a beta of 0.71. The company has a current ratio of 0.93, a quick ratio of 0.99 and a debt-to-equity ratio of 0.68. Centene has a 52 week low of $65.03 and a 52 week high of $112.42.

Centene (NYSE:CNC) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.03. The company had revenue of $12.81 billion for the quarter, compared to analyst estimates of $12.25 billion. Centene had a net margin of 1.71% and a return on equity of 13.68%. Centene’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.19 earnings per share. research analysts anticipate that Centene will post 7.23 earnings per share for the current fiscal year.

In other Centene news, Director Robert K. Ditmore sold 8,750 shares of Centene stock in a transaction on Monday, January 8th. The shares were sold at an average price of $104.30, for a total value of $912,625.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Keith H. Williamson sold 5,000 shares of Centene stock in a transaction on 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. Over the last ninety days, insiders sold 32,500 shares of company stock valued at $3,311,613. Insiders own 3.00% of the company’s stock.

Several large investors have recently bought and sold shares of CNC. Ameriprise Financial Inc. increased its position in shares of Centene by 47.8% during the third quarter. Ameriprise Financial Inc. now owns 5,181,047 shares of the company’s stock worth $502,999,000 after acquiring an additional 1,676,688 shares in the last quarter. Epoch Investment Partners Inc. increased its position in shares of Centene by 298.0% during the third quarter. Epoch Investment Partners Inc. now owns 997,346 shares of the company’s stock worth $96,513,000 after acquiring an additional 746,783 shares in the last quarter. BlackRock Inc. increased its position in shares of Centene by 4.6% during the fourth quarter. BlackRock Inc. now owns 13,939,406 shares of the company’s stock worth $1,406,209,000 after acquiring an additional 616,914 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of Centene by 68.2% during the fourth quarter. Acadian Asset Management LLC now owns 1,239,278 shares of the company’s stock worth $125,021,000 after acquiring an additional 502,329 shares in the last quarter. Finally, AGF Investments Inc. bought a new stake in shares of Centene during the fourth quarter worth about $49,577,000. 92.03% of the stock is owned by institutional investors.

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About Centene

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.

Analyst Recommendations for Centene (NYSE:CNC)

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