Centene Corp (NYSE:CNC) has received an average recommendation of “Buy” from the eighteen analysts that are currently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $147.00.
CNC has been the subject of a number of recent research reports. Oppenheimer raised their price target on Centene from $130.00 to $138.00 in a research note on Monday, June 18th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $152.00 price target on shares of Centene in a research note on Wednesday, July 25th. Bank of America raised their price target on Centene from $145.00 to $158.00 and gave the stock a “buy” rating in a research note on Tuesday, July 24th. Zacks Investment Research raised Centene from a “hold” rating to a “buy” rating and set a $152.00 price target for the company in a research note on Wednesday, August 8th. Finally, Leerink Swann raised their price target on Centene from $120.00 to $130.00 and gave the stock a “market perform” rating in a research note on Monday, June 18th.
CNC opened at $142.98 on Friday. Centene has a fifty-two week low of $83.56 and a fifty-two week high of $148.24. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.25 and a quick ratio of 1.26. The stock has a market cap of $29.29 billion, a PE ratio of 28.43, a PEG ratio of 1.38 and a beta of 0.85.
Centene (NYSE:CNC) last posted its quarterly earnings results on Tuesday, July 24th. The company reported $1.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.77 by $0.03. Centene had a return on equity of 14.57% and a net margin of 2.06%. The company had revenue of $14.18 billion during the quarter, compared to the consensus estimate of $13.82 billion. During the same period last year, the business earned $1.59 EPS. The business’s quarterly revenue was up 18.6% on a year-over-year basis. research analysts forecast that Centene will post 7.08 EPS for the current fiscal year.
In related news, EVP Christopher D. Bowers sold 3,800 shares of the business’s stock in a transaction on Monday, September 10th. The stock was sold at an average price of $145.55, for a total value of $553,090.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert K. Ditmore sold 15,000 shares of the business’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $145.06, for a total value of $2,175,900.00. The disclosure for this sale can be found here. Insiders sold a total of 30,550 shares of company stock worth $4,274,790 in the last ninety days. Insiders own 3.00% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Financial Gravity Wealth Inc. acquired a new stake in Centene in the 1st quarter valued at $114,000. Fort L.P. acquired a new stake in Centene in the 2nd quarter valued at $122,000. IMA Wealth Inc. acquired a new stake in Centene in the 2nd quarter valued at $124,000. Steward Partners Investment Advisory LLC boosted its stake in Centene by 127.2% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,254 shares of the company’s stock valued at $155,000 after buying an additional 702 shares in the last quarter. Finally, Cornerstone Wealth Management LLC acquired a new stake in Centene in the 2nd quarter valued at $157,000. 90.04% 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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