Leerink Swann restated their market perform rating on shares of Centene Corporation (NYSE:CNC) in a report published on Thursday. The brokerage currently has a $64.00 price target on the stock, up from their previous price target of $62.00.
Several other equities research analysts have also recently commented on the stock. Sanford C. Bernstein upgraded shares of Centene Corporation from a market perform rating to an outperform rating and lowered their price target for the stock from $77.00 to $69.00 in a research report on Monday, November 14th. They noted that the move was a valuation call. Cantor Fitzgerald started coverage on shares of Centene Corporation in a research report on Monday, February 6th. They set an overweight rating and a $85.00 price target for the company. Jefferies Group LLC reiterated a buy rating and set a $67.00 price target (down previously from $68.00) on shares of Centene Corporation in a research report on Friday, December 16th. Oppenheimer Holdings, Inc. reiterated an outperform rating on shares of Centene Corporation in a research report on Tuesday, December 20th. Finally, Zacks Investment Research cut shares of Centene Corporation from a hold rating to a sell rating in a research report on Thursday, December 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the stock. Centene Corporation has an average rating of Buy and a consensus target price of $77.67.
Centene Corporation (NYSE:CNC) opened at 69.93 on Thursday. The company has a 50-day moving average price of $62.71 and a 200-day moving average price of $63.12. The firm has a market cap of $12.02 billion, a PE ratio of 20.40 and a beta of 0.69. Centene Corporation has a 12-month low of $50.00 and a 12-month high of $75.57.
Centene Corporation (NYSE:CNC) last posted its earnings results on Tuesday, February 7th. The company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.11 by $0.08. Centene Corporation had a net margin of 1.37% and a return on equity of 12.83%. The firm earned $11.91 billion during the quarter, compared to analysts’ expectations of $10.94 billion. During the same quarter in the prior year, the firm earned $0.95 EPS. Centene Corporation’s quarterly revenue was up 89.0% on a year-over-year basis. On average, equities analysts predict that Centene Corporation will post $4.69 earnings per share for the current year.
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In other Centene Corporation news, SVP Mark J. Brooks sold 1,099 shares of the company’s stock in a transaction on Thursday, December 1st. The shares were sold at an average price of $58.00, for a total transaction of $63,742.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 4.50% of the company’s stock.
A number of hedge funds have recently bought and sold shares of CNC. ING Groep NV raised its stake in Centene Corporation by 33.1% in the fourth quarter. ING Groep NV now owns 14,255 shares of the company’s stock valued at $810,000 after buying an additional 3,544 shares during the period. AlphaMark Advisors LLC increased its position in Centene Corporation by 3.4% in the second quarter. AlphaMark Advisors LLC now owns 63,220 shares of the company’s stock valued at $4,512,000 after buying an additional 2,054 shares in the last quarter. BRC Investment Management LLC increased its position in Centene Corporation by 1,727.1% in the second quarter. BRC Investment Management LLC now owns 171,201 shares of the company’s stock valued at $12,219,000 after buying an additional 161,831 shares in the last quarter. Chartwell Investment Partners LLC increased its position in Centene Corporation by 47.5% in the second quarter. Chartwell Investment Partners LLC now owns 1,261,546 shares of the company’s stock valued at $90,037,000 after buying an additional 406,225 shares in the last quarter. Finally, Rail Splitter Capital Management LLC bought a new position in Centene Corporation during the second quarter valued at approximately $11,826,000. 94.14% of the stock is currently owned by hedge funds and other institutional investors.
Centene Corporation Company Profile
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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