Several analysts have recently updated their ratings and price targets for Centene Corporation (NYSE: CNC):

  • 7/14/2017 – Centene Corporation had its price target raised by analysts at Bank of America Corporation from $93.00 to $95.00. They now have a “buy” rating on the stock.
  • 7/14/2017 – Centene Corporation had its “buy” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $94.00 price target on the stock.
  • 7/13/2017 – Centene Corporation had its price target raised by analysts at Deutsche Bank AG from $84.00 to $92.00. They now have a “buy” rating on the stock.
  • 7/11/2017 – Centene Corporation had its “outperform” rating reaffirmed by analysts at Sanford C. Bernstein.
  • 7/10/2017 – Centene Corporation was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Centene has seen substantial inorganic growth in the last five years. The acquisition of Health Net in 2016 which boosted the company’s growth, expansion and asset base, is worth a mention here. This apart, its solid financial position provides a major boost to its capital deployment initiatives. The company’s strong Managed care segment also impresses. Well evident of all these tailwinds, year to date, the stock rallied 44%, outpacing 210% gain of the Zacks HMO industry. The company’s strong and consistent performance is likely to have generated confidence among the investors. However, the company rigorously suffers from continuously rising level of debt that result in increasing borrowing cost which again keeps draining the bottom line. In addition, steep increase in acquisition related expenses as well as the regulatory uncertainty from the change of presidency are major concerns.”
  • 7/4/2017 – Centene Corporation was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Centene rigorously suffers from continuously rising level of debt that result in increasing borrowing cost which again keeps draining the bottom line. In addition, steep increase in acquisition related expenses as well as the regulatory uncertainty from thechange of presidency are major concerns. However, the company has seen substantial inorganic growth in the last five years. The acquisition of Health Net in 2016 which boosted the company’s growth, expansion and asset base, is worth a mention here. This apart, its solid financial position provides a major boost to its capital deployment initiatives. The company’s strong Managed care segment also impresses. Well evident of all these tailwinds, year to date, the stock rallied 42%, outpacing 20% gain of the Zacks HMO industry. The company’s strong and consistent performance is likely to have generated confidence among the investors.”
  • 7/1/2017 – Centene Corporation was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 6/24/2017 – Centene Corporation was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
  • 6/19/2017 – Centene Corporation had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $90.00 price target on the stock, up previously from $88.00.
  • 6/19/2017 – Centene Corporation had its “neutral” rating reaffirmed by analysts at Credit Suisse Group. They now have a $81.00 price target on the stock, up previously from $78.00.
  • 6/13/2017 – Centene Corporation was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 6/6/2017 – Centene Corporation is now covered by analysts at Morgan Stanley. They set an “overweight” rating and a $86.00 price target on the stock.
  • 5/22/2017 – Centene Corporation was downgraded by analysts at J P Morgan Chase & Co from an “overweight” rating to a “neutral” rating. They now have a $75.00 price target on the stock.

Centene Corporation (NYSE:CNC) opened at 83.69 on Tuesday. The firm has a market capitalization of $14.42 billion, a price-to-earnings ratio of 20.60 and a beta of 0.67. Centene Corporation has a 12-month low of $50.00 and a 12-month high of $85.79. The firm has a 50-day moving average of $77.26 and a 200 day moving average of $69.76.

Centene Corporation (NYSE:CNC) last issued its quarterly earnings results on Tuesday, April 25th. The company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.06. The business had revenue of $11.72 billion during the quarter, compared to the consensus estimate of $11.44 billion. Centene Corporation had a net margin of 1.57% and a return on equity of 14.19%. The company’s quarterly revenue was up 68.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.74 earnings per share. On average, equities analysts predict that Centene Corporation will post $4.76 EPS for the current year.

In related news, Chairman Michael F. Neidorff sold 35,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 6th. The shares were sold at an average price of $80.26, for a total value of $2,809,100.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Christopher D. Bowers sold 3,150 shares of the firm’s stock in a transaction that occurred on Thursday, April 27th. The stock was sold at an average price of $72.80, for a total transaction of $229,320.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 57,728 shares of company stock valued at $4,506,020. Insiders own 3.00% of the company’s stock.

Centene Corporation is a healthcare company. The Company provides a portfolio of services to government sponsored healthcare programs, focusing on under-insured and uninsured individuals. The Company operates through two segments: Managed Care and Specialty Services. The Company’s Managed Care segment provides health plan coverage to individuals, through government subsidized programs, including Medicaid, the State Children’s Health Insurance Program (CHIP), Long Term Care, Foster Care, dual-eligible individuals (Duals) and the Supplemental Security Income Program, also known as the Aged, Blind or Disabled Program (ABD), Medicare, and Health Insurance Marketplace.

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