Centene Corp. (CNC) Stock Price Down 1.1%
Centene Corp. (NYSE:CNC)’s share price was down 1.1% during mid-day trading on Tuesday . The stock traded as low as $69.82 and last traded at $69.86, with a volume of 514,878 shares. The stock had previously closed at $70.64.
Several equities analysts recently issued reports on CNC shares. Zacks Investment Research cut Centene Corp. from a “buy” rating to a “hold” rating in a report on Monday, August 1st. FBR & Co reaffirmed an “outperform” rating and set a $90.00 price objective on shares of Centene Corp. in a report on Tuesday, July 26th. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Centene Corp. in a report on Monday, June 20th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Centene Corp. in a report on Tuesday, June 28th. Finally, Vetr cut Centene Corp. from a “strong-buy” rating to a “buy” rating and set a $81.00 price objective for the company. in a report on Tuesday, July 12th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $80.31.
The stock has a market capitalization of $11.94 billion and a PE ratio of 26.99. The stock’s 50 day moving average price is $70.75 and its 200-day moving average price is $63.71.
Centene Corp. (NYSE:CNC) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.20. During the same quarter last year, the company posted $0.72 EPS. The company had revenue of $10.90 billion for the quarter, compared to analyst estimates of $10.80 billion. Centene Corp.’s revenue was up 97.9% on a year-over-year basis. On average, analysts forecast that Centene Corp. will post $4.35 EPS for the current year.
In other news, SVP Mark J. Brooks sold 3,914 shares of the stock in a transaction on Monday, June 6th. The stock was sold at an average price of $65.01, for a total transaction of $254,449.14. Following the completion of the sale, the senior vice president now owns 30,605 shares in the company, valued at approximately $1,989,631.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kenneth Rone Baldwin sold 6,000 shares of the stock in a transaction on Friday, July 1st. The shares were sold at an average price of $71.00, for a total value of $426,000.00. The disclosure for this sale can be found here.
Other large investors recently made changes to their positions in the company. KBC Group NV increased its stake in shares of Centene Corp. by 8.5% in the fourth quarter. KBC Group NV now owns 37,989 shares of the company’s stock worth $2,500,000 after buying an additional 2,979 shares during the period. Employees Retirement System of Texas bought a new stake in shares of Centene Corp. during the fourth quarter worth approximately $3,422,000. Finally, Advisors Asset Management Inc. increased its stake in shares of Centene Corp. by 26.6% in the fourth quarter. Advisors Asset Management Inc. now owns 17,868 shares of the company’s stock worth $1,176,000 after buying an additional 3,754 shares during the period.
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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