Shares of Centene Corp (NYSE:CNC) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $49.66 and last traded at $50.76, with a volume of 25245591 shares traded. The stock had previously closed at $54.85.
Several brokerages recently issued reports on CNC. ValuEngine lowered Centene from a “hold” rating to a “sell” rating in a report on Wednesday. Cowen began coverage on Centene in a report on Thursday, February 28th. They set an “outperform” rating and a $77.00 price objective for the company. Cantor Fitzgerald reiterated a “buy” rating and set a $83.00 price objective on shares of Centene in a report on Wednesday, February 27th. Jefferies Financial Group reiterated a “buy” rating and set a $76.00 price objective on shares of Centene in a report on Thursday, February 7th. Finally, Oppenheimer cut their price objective on Centene from $165.00 to $83.00 and set an “outperform” rating for the company in a report on Wednesday, February 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and sixteen have given a buy rating to the stock. Centene has an average rating of “Buy” and an average price target of $77.64.
The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.60. The firm has a market cap of $21.53 billion, a price-to-earnings ratio of 14.60, a PEG ratio of 0.92 and a beta of 1.29.
Centene (NYSE:CNC) last posted its quarterly earnings data on Tuesday, February 5th. The company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.05. The business had revenue of $16.56 billion for the quarter, compared to analyst estimates of $16.38 billion. Centene had a return on equity of 14.10% and a net margin of 1.50%. The firm’s revenue for the quarter was up 29.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.49 earnings per share. On average, equities analysts forecast that Centene Corp will post 4.23 EPS for the current fiscal year.
In other news, EVP Christopher D. Bowers sold 9,200 shares of Centene stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $65.01, for a total value of $598,092.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Jeffrey A. Schwaneke sold 4,000 shares of Centene stock in a transaction dated Tuesday, January 15th. The stock was sold at an average price of $125.00, for a total value of $500,000.00. The disclosure for this sale can be found here. Insiders own 2.50% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Lindbrook Capital LLC acquired a new stake in Centene during the fourth quarter worth about $31,000. Bessemer Group Inc. grew its position in Centene by 140.7% during the fourth quarter. Bessemer Group Inc. now owns 349 shares of the company’s stock worth $41,000 after buying an additional 204 shares in the last quarter. Prime Capital Investment Advisors LLC acquired a new stake in Centene during the fourth quarter worth about $47,000. Exane Asset Management grew its position in Centene by 40.7% during the fourth quarter. Exane Asset Management now owns 678 shares of the company’s stock worth $78,000 after buying an additional 196 shares in the last quarter. Finally, Flagship Harbor Advisors LLC grew its position in Centene by 39.5% during the fourth quarter. Flagship Harbor Advisors LLC now owns 706 shares of the company’s stock worth $81,000 after buying an additional 200 shares in the last quarter. 45.51% of the stock is currently owned by institutional investors and hedge funds.
About Centene (NYSE:CNC)
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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