Centene Corporation (NYSE:CNC)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as $89.28 and last traded at $88.91, with a volume of 423,151 shares. The stock had previously closed at $88.32.

CNC has been the topic of a number of recent research reports. J P Morgan Chase & Co lowered shares of Centene Corporation from an “overweight” rating to a “neutral” rating and set a $75.00 price target on the stock. in a research report on Monday, May 22nd. Morgan Stanley initiated coverage on shares of Centene Corporation in a research report on Tuesday, June 6th. They set an “overweight” rating and a $86.00 price target on the stock. ValuEngine lowered shares of Centene Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, June 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $90.00 price target (up from $88.00) on shares of Centene Corporation in a research report on Monday, June 19th. Finally, Credit Suisse Group reaffirmed a “neutral” rating and set a $81.00 price target (up from $78.00) on shares of Centene Corporation in a research report on Monday, June 19th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $86.94.

The firm’s 50 day moving average price is $84.39 and its 200-day moving average price is $77.17. The company has a market cap of $15.44 billion, a P/E ratio of 19.65 and a beta of 0.63.

Centene Corporation (NYSE:CNC) last posted its quarterly earnings data on Tuesday, July 25th. The company reported $1.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.30 by $0.29. The company had revenue of $11.95 billion for the quarter, compared to analysts’ expectations of $11.69 billion. Centene Corporation had a net margin of 1.72% and a return on equity of 14.62%. Centene Corporation’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.29 earnings per share. Analysts anticipate that Centene Corporation will post $4.92 earnings per share for the current year.

In related news, Director Robert K. Ditmore sold 4,167 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $82.59, for a total value of $344,152.53. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Christopher D. Bowers sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $79.43, for a total transaction of $317,720.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 47,517 shares of company stock worth $3,807,576. 3.00% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the stock. Mckinley Capital Management LLC Delaware bought a new position in shares of Centene Corporation in the second quarter worth approximately $101,000. Bronfman E.L. Rothschild L.P. increased its position in shares of Centene Corporation by 5.9% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,662 shares of the company’s stock worth $118,000 after purchasing an additional 93 shares during the last quarter. Seven Bridges Advisors LLC bought a new position in shares of Centene Corporation in the second quarter worth approximately $123,000. IFP Advisors Inc increased its position in shares of Centene Corporation by 9.6% in the second quarter. IFP Advisors Inc now owns 1,944 shares of the company’s stock worth $155,000 after purchasing an additional 170 shares during the last quarter. Finally, MV Capital Management Inc. bought a new position in shares of Centene Corporation in the second quarter worth approximately $186,000. Institutional investors own 92.26% of the company’s stock.

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Centene Corporation Company Profile

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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