Shares of Centene Corp (NYSE:CNC) have been given an average recommendation of “Buy” by the twenty-one brokerages that are covering the firm. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $77.23.
A number of research firms have recently issued reports on CNC. Barclays PLC increased their target price on Centene Corp from $75.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, February 8th. Zacks Investment Research upgraded Centene Corp from a “sell” rating to a “hold” rating in a research note on Thursday, February 16th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $85.00 target price on shares of Centene Corp in a research note on Saturday, March 11th. Jefferies Group LLC increased their target price on Centene Corp from $67.00 to $79.00 and gave the company a “buy” rating in a research note on Wednesday, February 8th. Finally, Leerink Swann reiterated a “market perform” rating and issued a $64.00 target price (up previously from $62.00) on shares of Centene Corp in a research note on Thursday, February 9th.
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In other news, CFO Jeffrey A. Schwaneke sold 2,000 shares of Centene Corp stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $68.52, for a total value of $137,040.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jesse N. Hunter sold 5,000 shares of Centene Corp stock in a transaction that occurred on Monday, February 13th. The stock was sold at an average price of $69.54, for a total value of $347,700.00. The disclosure for this sale can be found here. 4.50% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Global X Management Co. LLC raised its position in shares of Centene Corp by 170.5% in the third quarter. Global X Management Co. LLC now owns 1,580 shares of the company’s stock valued at $106,000 after buying an additional 996 shares during the last quarter. BKS Advisors LLC purchased a new position in shares of Centene Corp during the third quarter valued at approximately $107,000. Bronfman E.L. Rothschild L.P. raised its position in shares of Centene Corp by 88.3% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 1,781 shares of the company’s stock valued at $119,000 after buying an additional 835 shares during the last quarter. Rockefeller Financial Services Inc. purchased a new position in shares of Centene Corp during the third quarter valued at approximately $120,000. Finally, Parkside Financial Bank & Trust raised its position in shares of Centene Corp by 7.3% in the third quarter. Parkside Financial Bank & Trust now owns 2,206 shares of the company’s stock valued at $148,000 after buying an additional 151 shares during the last quarter. Institutional investors own 94.14% of the company’s stock.
Shares of Centene Corp (NYSE:CNC) opened at 67.72 on Thursday. The firm has a 50-day moving average price of $68.60 and a 200-day moving average price of $63.27. Centene Corp has a 52 week low of $50.00 and a 52 week high of $75.57. The stock has a market cap of $11.65 billion, a PE ratio of 19.75 and a beta of 0.69.
Centene Corp (NYSE:CNC) last released its quarterly earnings data on Tuesday, February 7th. The company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.08. The company had revenue of $11.91 billion for the quarter, compared to the consensus estimate of $10.94 billion. Centene Corp had a return on equity of 12.83% and a net margin of 1.37%. The company’s quarterly revenue was up 89.0% compared to the same quarter last year. During the same period last year, the business posted $0.95 EPS. On average, analysts forecast that Centene Corp will post $4.69 earnings per share for the current fiscal year.
About Centene Corp
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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