Centene Corp. (CNC) Stock Price Up 3%
Shares of Centene Corp. (NYSE:CNC) rose 3% on Friday . The company traded as high as $75.22 and last traded at $75.17, with a volume of 838,624 shares changing hands. The stock had previously closed at $73.00.
CNC has been the subject of a number of research reports. Credit Suisse Group AG increased their price target on shares of Centene Corp. from $70.00 to $72.00 in a report on Monday, March 28th. Leerink Swann reissued a “buy” rating on shares of Centene Corp. in a report on Thursday, May 12th. Zacks Investment Research raised shares of Centene Corp. from a “hold” rating to a “buy” rating and set a $67.00 price target for the company in a report on Monday, April 11th. Jefferies Group reissued a “buy” rating and issued a $80.00 price target on shares of Centene Corp. in a report on Tuesday, April 5th. Finally, Citigroup Inc. reissued a “buy” rating on shares of Centene Corp. in a report on Saturday, April 2nd. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Centene Corp. has an average rating of “Buy” and a consensus target price of $80.19.
The stock’s 50-day moving average is $69.34 and its 200 day moving average is $62.31. The firm has a market cap of $12.85 billion and a P/E ratio of 33.99.
Centene Corp. (NYSE:CNC) last released its quarterly earnings data on Tuesday, April 26th. The company reported $0.74 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.74. During the same period in the prior year, the company earned $0.52 EPS. The firm earned $6.95 billion during the quarter, compared to analyst estimates of $7.88 billion. The business’s quarterly revenue was up 35.5% compared to the same quarter last year. On average, equities research analysts expect that Centene Corp. will post $4.21 earnings per share for the current fiscal year.
In other news, EVP Jesse N. Hunter sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, April 28th. The stock was sold at an average price of $65.17, for a total value of $651,700.00. Following the completion of the transaction, the executive vice president now owns 216,329 shares of the company’s stock, valued at $14,098,160.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Mark J. Brooks sold 3,914 shares of the company’s stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $65.01, for a total value of $254,449.14. Following the completion of the transaction, the senior vice president now directly owns 30,605 shares of the company’s stock, valued at approximately $1,989,631.05. The disclosure for this sale can be found here.
A number of hedge funds have recently added to or reduced their stakes in CNC. Burney Co. increased its stake in Centene Corp. by 9.7% in the fourth quarter. Burney Co. now owns 15,188 shares of the company’s stock worth $1,003,000 after buying an additional 1,346 shares in the last quarter. Cowen Group Inc. purchased a new stake in Centene Corp. during the fourth quarter worth $6,347,000. Wells Fargo & Company MN increased its stake in Centene Corp. by 15.9% in the fourth quarter. Wells Fargo & Company MN now owns 1,547,023 shares of the company’s stock worth $101,809,000 after buying an additional 211,761 shares in the last quarter. Bush Odonnell Investment Advisors Inc. purchased a new stake in Centene Corp. during the fourth quarter worth $3,659,000. Finally, Financial Counselors Inc. increased its stake in Centene Corp. by 87.6% in the fourth quarter. Financial Counselors Inc. now owns 38,375 shares of the company’s stock worth $2,525,000 after buying an additional 17,921 shares in the last quarter.
Centene Corporation is a diversified healthcare company that provides programs and services to government sponsored healthcare programs. The Company also provides education and outreach programs to inform and assist members in accessing appropriate healthcare services. The Company operates through two segments.
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