Centene Corporation (NYSE:CNC) Given Consensus Recommendation of “Hold” by Brokerages

Centene Corporation (NYSE:CNC) has received a consensus recommendation of “Hold” from the nineteen brokerages that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $60.2353.

A number of research firms recently weighed in on CNC. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Centene in a report on Thursday, June 11th. Jefferies Financial Group increased their target price on Centene from $39.00 to $48.00 and gave the stock a “hold” rating in a report on Wednesday, April 29th. Morgan Stanley raised their target price on Centene from $50.00 to $57.00 and gave the company an “equal weight” rating in a research note on Thursday, June 4th. Wall Street Zen upgraded shares of Centene from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, Barclays restated an “overweight” rating on shares of Centene in a research report on Tuesday.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CNC. AQR Capital Management LLC raised its position in shares of Centene by 117.0% during the fourth quarter. AQR Capital Management LLC now owns 31,798,738 shares of the company’s stock worth $1,308,518,000 after acquiring an additional 17,143,904 shares during the last quarter. Norges Bank acquired a new stake in Centene in the fourth quarter worth about $332,044,000. Deerfield Management Company L.P. raised its holdings in Centene by 184.0% during the 3rd quarter. Deerfield Management Company L.P. now owns 9,046,000 shares of the company’s stock worth $322,761,000 after purchasing an additional 5,860,630 shares during the last quarter. 8 Knots Management LLC acquired a new position in Centene during the 3rd quarter valued at about $186,662,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Centene by 52.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,171,568 shares of the company’s stock valued at $295,111,000 after purchasing an additional 2,472,341 shares during the last quarter. Institutional investors and hedge funds own 93.63% of the company’s stock.

Centene Price Performance

NYSE:CNC opened at $61.25 on Wednesday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.76. The firm has a market cap of $30.25 billion, a PE ratio of -4.66, a price-to-earnings-growth ratio of 0.50 and a beta of 1.09. Centene has a 12 month low of $25.08 and a 12 month high of $66.55. The company’s 50-day moving average price is $52.52 and its two-hundred day moving average price is $44.68.

Centene (NYSE:CNC) last posted its earnings results on Tuesday, April 28th. The company reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $1.14. The company had revenue of $49.94 billion during the quarter, compared to analysts’ expectations of $47.53 billion. Centene had a negative net margin of 3.25% and a positive return on equity of 5.57%. Centene’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.90 earnings per share. On average, equities analysts anticipate that Centene will post 3.45 EPS for the current fiscal year.

Centene Company Profile

Centene Corporation (NYSE: CNC) is a diversified, multi-national healthcare enterprise that specializes in providing services to government-sponsored and national health programs. The company primarily acts as a managed care organization, delivering healthcare coverage and administering benefits for Medicaid, the Children’s Health Insurance Program (CHIP), Medicare Advantage, and individual marketplace plans. Centene also contracts with federal and state agencies to manage specialty care programs and community-based services for vulnerable populations.

Centene’s offerings extend beyond traditional insurance to include a range of specialty and support services.