Research analysts at Stephens began coverage on shares of Centene (NYSE:CNC) in a note issued to investors on Monday, The Fly reports. The firm set an “overweight” rating on the stock.
A number of other research firms have also recently issued reports on CNC. boosted their target price on Centene from $146.00 to $158.00 and gave the company an “outperform” rating in a research note on Tuesday, October 2nd. Oppenheimer boosted their target price on Centene from $146.00 to $158.00 and gave the company an “outperform” rating in a research note on Tuesday, October 2nd. Zacks Investment Research upgraded Centene from a “sell” rating to a “hold” rating in a report on Thursday, October 4th. Mitsubishi UFJ Financial Group initiated coverage on Centene in a report on Wednesday, September 19th. They issued an “overweight” rating and a $170.00 price target on the stock. Finally, Leerink Swann upgraded Centene from a “market perform” rating to an “outperform” rating and set a $159.68 price target on the stock in a report on Wednesday, October 24th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $155.55.
NYSE:CNC opened at $119.98 on Monday. Centene has a 1 year low of $97.61 and a 1 year high of $148.98. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $24.28 billion, a price-to-earnings ratio of 23.85, a price-to-earnings-growth ratio of 0.98 and a beta of 1.27.
Centene (NYSE:CNC) last posted its earnings results on Tuesday, October 23rd. The company reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.02. Centene had a return on equity of 14.42% and a net margin of 1.58%. The firm had revenue of $16.18 billion during the quarter, compared to analysts’ expectations of $15.93 billion. During the same period in the previous year, the firm earned $1.35 earnings per share. The company’s revenue was up 36.0% on a year-over-year basis. As a group, equities research analysts anticipate that Centene will post 7.04 earnings per share for the current year.
In other news, EVP Mark J. Brooks sold 2,540 shares of the company’s stock in a transaction that occurred on Tuesday, December 18th. The stock was sold at an average price of $121.26, for a total value of $308,000.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Robert K. Ditmore sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, October 25th. The shares were sold at an average price of $129.24, for a total value of $1,938,600.00. The disclosure for this sale can be found here. 3.00% of the stock is owned by insiders.
A number of large investors have recently modified their holdings of the stock. Csenge Advisory Group bought a new position in Centene during the 3rd quarter worth $105,000. FNY Investment Advisers LLC bought a new position in Centene during the 3rd quarter worth $106,000. Capital Guardian Trust Co. bought a new position in Centene during the 3rd quarter worth $111,000. Cerebellum GP LLC bought a new position in Centene during the 4th quarter worth $147,000. Finally, Resources Management Corp CT ADV bought a new position in Centene during the 3rd quarter worth $155,000. 88.64% of the stock is currently owned by institutional investors and hedge funds.
Centene Corporation operates as a diversified and multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. It operates through two segments, Managed Care and Specialty Services. The Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term care, foster care, and dual eligible individual, as well as aged, blind, or disabled programs.
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