Analysts at Deutsche Bank began coverage on shares of Centene (NYSE:CNC) in a report issued on Thursday, BenzingaRatingsTable reports. The firm set a “buy” rating and a $62.00 price target on the stock. Deutsche Bank’s price target points to a potential upside of 32.54% from the company’s previous close.
Other research analysts have also recently issued research reports about the stock. ValuEngine cut shares of Centene from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 2nd. Zacks Investment Research downgraded shares of Centene from a “buy” rating to a “hold” rating and set a $49.00 price target on the stock. in a report on Monday, September 2nd. Finally, Morgan Stanley lowered their price target on shares of Centene from $71.00 to $64.00 and set an “overweight” rating for the company in a research report on Friday, August 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have given a buy rating to the stock. Centene presently has a consensus rating of “Buy” and an average target price of $73.10.
Centene stock opened at $46.78 on Thursday. The stock has a market cap of $19.12 billion, a P/E ratio of 13.21, a PEG ratio of 0.74 and a beta of 0.85. Centene has a fifty-two week low of $44.50 and a fifty-two week high of $74.49. The firm’s fifty day moving average price is $48.36 and its 200-day moving average price is $53.23. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.07 and a current ratio of 1.07.
Centene (NYSE:CNC) last posted its earnings results on Tuesday, July 23rd. The company reported $1.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.10. Centene had a net margin of 1.84% and a return on equity of 15.87%. The company had revenue of $18.36 billion during the quarter, compared to analyst estimates of $18.02 billion. During the same period in the prior year, the business posted $0.90 earnings per share. Centene’s revenue for the quarter was up 29.4% on a year-over-year basis. Sell-side analysts predict that Centene will post 4.42 earnings per share for the current year.
In related news, Director Jessica L. Blume acquired 2,850 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was acquired at an average price of $52.99 per share, for a total transaction of $151,021.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.50% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Compagnie Lombard Odier SCmA bought a new position in shares of Centene in the 2nd quarter valued at $30,000. Zions Bancorporation N.A. lifted its stake in Centene by 131.5% in the first quarter. Zions Bancorporation N.A. now owns 602 shares of the company’s stock valued at $32,000 after purchasing an additional 342 shares during the last quarter. Global Retirement Partners LLC lifted its position in shares of Centene by 568.0% during the first quarter. Global Retirement Partners LLC now owns 648 shares of the company’s stock worth $34,000 after acquiring an additional 551 shares in the last quarter. Reilly Financial Advisors LLC lifted its position in shares of Centene by 133.3% during the second quarter. Reilly Financial Advisors LLC now owns 700 shares of the company’s stock worth $37,000 after acquiring an additional 400 shares in the last quarter. Finally, Berman Capital Advisors LLC increased its holdings in shares of Centene by 369.3% in the first quarter. Berman Capital Advisors LLC now owns 826 shares of the company’s stock worth $43,000 after purchasing an additional 650 shares during the period. 97.76% of the stock is owned by institutional investors and hedge funds.
Centene Company Profile
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. The company's Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term services and support, foster care, and medicare-medicaid plans, which covers dually eligible individuals, as well as aged, blind, or disabled programs.
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