Shares of Centene Corp (NYSE:CNC) reached a new 52-week high and low during mid-day trading on Thursday . The company traded as low as $119.84 and last traded at $118.89, with a volume of 15757 shares traded. The stock had previously closed at $118.84.
A number of analysts have recently issued reports on the stock. Morgan Stanley increased their price target on shares of Centene from $126.00 to $127.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 25th. Zacks Investment Research lowered shares of Centene from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 10th. Cantor Fitzgerald reissued a “buy” rating and issued a $125.00 price target on shares of Centene in a research report on Monday, April 2nd. BMO Capital Markets reissued a “buy” rating on shares of Centene in a research report on Monday, March 26th. Finally, Leerink Swann reissued a “market perform” rating and issued a $90.00 price target (down from $100.00) on shares of Centene in a research report on Tuesday, February 13th. Three investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $116.20.
The stock has a market cap of $24.21 billion, a price-to-earnings ratio of 23.69, a P/E/G ratio of 1.14 and a beta of 0.76. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.01.
Centene (NYSE:CNC) last issued its quarterly earnings data on Tuesday, April 24th. The company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.25. The firm had revenue of $13.19 billion for the quarter, compared to analyst estimates of $13.33 billion. Centene had a net margin of 2.06% and a return on equity of 15.69%. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.12 earnings per share. equities analysts predict that Centene Corp will post 7.05 earnings per share for the current fiscal year.
In other news, Director Robert K. Ditmore sold 8,750 shares of Centene stock in a transaction that occurred on Thursday, April 26th. The shares were sold at an average price of $108.15, for a total value of $946,312.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Michael F. Neidorff sold 250,000 shares of Centene stock in a transaction that occurred on Thursday, April 26th. The shares were sold at an average price of $108.20, for a total transaction of $27,050,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 265,550 shares of company stock worth $28,712,209. Insiders own 3.00% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Focused Wealth Management Inc raised its position in shares of Centene by 900.0% in the fourth quarter. Focused Wealth Management Inc now owns 1,000 shares of the company’s stock valued at $101,000 after purchasing an additional 900 shares during the period. Financial Gravity Companies Inc. bought a new position in shares of Centene in the fourth quarter valued at approximately $112,000. We Are One Seven LLC bought a new position in shares of Centene in the fourth quarter valued at approximately $114,000. Financial Gravity Wealth Inc. bought a new position in shares of Centene in the first quarter valued at approximately $114,000. Finally, Tower Research Capital LLC TRC bought a new position in shares of Centene in the fourth quarter valued at approximately $145,000. 76.20% of the stock is currently owned by institutional investors.
Centene Company Profile
Centene Corporation operates as a diversified and multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. It operates through two segments, Managed Care and Specialty Services. The Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term care, foster care, and dual eligible individual, as well as aged, blind, or disabled programs.
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