Centene Corporation (NYSE:CNC)‘s stock had its “market perform” rating restated by investment analysts at Leerink Swann in a note issued to investors on Wednesday. They currently have a $90.00 target price on the stock, up from their previous target price of $78.00. Leerink Swann’s price target suggests a potential downside of 6.16% from the stock’s current price.
A number of other brokerages have also recently issued reports on CNC. Bank of America Corporation increased their target price on Centene Corporation from $93.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, July 14th. ValuEngine raised Centene Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 27th. Zacks Investment Research cut Centene Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 4th. BidaskClub cut Centene Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Finally, J P Morgan Chase & Co cut Centene Corporation from an “overweight” rating to a “neutral” rating and set a $75.00 target price for the company. in a report on Monday, May 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company. Centene Corporation currently has an average rating of “Buy” and an average price target of $91.65.
Centene Corporation (NYSE:CNC) opened at 95.91 on Wednesday. The company has a market capitalization of $16.54 billion, a P/E ratio of 21.05 and a beta of 0.63. Centene Corporation has a 52 week low of $50.00 and a 52 week high of $98.72. The company’s 50-day moving average price is $85.55 and its 200-day moving average price is $77.84.
Centene Corporation (NYSE:CNC) last announced its quarterly earnings data on Tuesday, July 25th. The company reported $1.59 EPS for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.29. Centene Corporation had a return on equity of 14.62% and a net margin of 1.72%. The company had revenue of $11.95 billion during the quarter, compared to the consensus estimate of $11.69 billion. During the same quarter last year, the company earned $1.29 EPS. The company’s quarterly revenue was up 9.7% on a year-over-year basis. On average, equities analysts forecast that Centene Corporation will post $4.92 EPS for the current fiscal year.
In other Centene Corporation news, Director Robert K. Ditmore sold 4,167 shares of the stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $82.59, for a total value of $344,152.53. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Michael F. Neidorff sold 35,000 shares of the stock in a transaction 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 disclosure for this sale can be found here. Insiders sold a total of 43,167 shares of company stock worth $3,470,973 over the last quarter. Corporate insiders own 3.00% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in Centene Corporation by 4.9% in the 2nd quarter. Vanguard Group Inc. now owns 16,726,500 shares of the company’s stock valued at $1,336,113,000 after buying an additional 774,474 shares during the last quarter. BlackRock Inc. boosted its position in Centene Corporation by 3,408.1% in the 1st quarter. BlackRock Inc. now owns 15,510,470 shares of the company’s stock valued at $1,105,275,000 after buying an additional 15,068,340 shares during the last quarter. State Street Corp boosted its position in Centene Corporation by 0.5% in the 2nd quarter. State Street Corp now owns 7,154,348 shares of the company’s stock valued at $571,504,000 after buying an additional 35,040 shares during the last quarter. Wells Fargo & Company MN boosted its position in Centene Corporation by 12.4% in the 2nd quarter. Wells Fargo & Company MN now owns 4,193,466 shares of the company’s stock valued at $334,973,000 after buying an additional 462,936 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in Centene Corporation by 318.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 3,504,359 shares of the company’s stock valued at $279,882,000 after buying an additional 2,667,189 shares during the last quarter. Hedge funds and other institutional investors own 92.26% of the company’s stock.
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.
Receive News & Ratings for Centene Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Centene Corporation and related companies with MarketBeat.com's FREE daily email newsletter.