Jefferies Group Reaffirms “Buy” Rating for Centene Corp. (CNC)
CNC has been the subject of a number of other reports. Zacks Investment Research cut shares of Centene Corp. from a hold rating to a sell rating in a research note on Tuesday, October 11th. Leerink Swann reissued a hold rating on shares of Centene Corp. in a research note on Tuesday, October 4th. Cantor Fitzgerald reissued a buy rating on shares of Centene Corp. in a research note on Thursday, September 29th. FBR & Co reaffirmed a buy rating on shares of Centene Corp. in a research note on Thursday, September 1st. Finally, Credit Suisse Group AG reaffirmed a buy rating and set a $78.00 price target on shares of Centene Corp. in a research note on Tuesday, September 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the stock. The company has an average rating of Buy and an average price target of $80.76.
Centene Corp. (NYSE:CNC) opened at 60.06 on Friday. The company has a 50-day moving average of $65.97 and a 200-day moving average of $65.75. Centene Corp. has a 1-year low of $47.36 and a 1-year high of $75.57. The company has a market capitalization of $10.25 billion, a P/E ratio of 23.18 and a beta of 0.94.
Centene Corp. (NYSE:CNC) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.20. Centene Corp. had a net margin of 1.19% and a return on equity of 14.27%. The business earned $10.90 billion during the quarter, compared to analysts’ expectations of $10.80 billion. During the same period last year, the company posted $0.72 EPS. The business’s revenue was up 97.9% on a year-over-year basis. Equities analysts expect that Centene Corp. will post $4.37 EPS for the current fiscal year.
In other news, VP Carol Goldman sold 10,000 shares of Centene Corp. stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $66.36, for a total value of $663,600.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Kenneth Rone Baldwin sold 6,000 shares of Centene Corp. stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $66.58, for a total transaction of $399,480.00. The disclosure for this sale can be found here. 4.50% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of CNC. Duncker Streett & Co. Inc. increased its position in shares of Centene Corp. by 28.0% in the second quarter. Duncker Streett & Co. Inc. now owns 1,600 shares of the company’s stock worth $114,000 after buying an additional 350 shares during the last quarter. Robecosam AG bought a new stake in Centene Corp. during the first quarter valued at $107,000. Quadrant Capital Group LLC increased its stake in Centene Corp. by 11.0% in the second quarter. Quadrant Capital Group LLC now owns 2,170 shares of the company’s stock valued at $151,000 after buying an additional 215 shares in the last quarter. Tompkins Financial Corp increased its stake in Centene Corp. by 243.8% in the second quarter. Tompkins Financial Corp now owns 2,235 shares of the company’s stock valued at $159,000 after buying an additional 1,585 shares in the last quarter. Finally, Financial Engines Advisors L.L.C. bought a new stake in Centene Corp. during the second quarter valued at $163,000. 92.91% of the stock is currently owned by hedge funds and other institutional investors.
About Centene Corp.
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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