Centene (CNC) Trading Up 5%

Shares of Centene Corp (NYSE:CNC) were up 5% during mid-day trading on Tuesday . The stock traded as high as $146.57 and last traded at $146.46. Approximately 1,306,658 shares changed hands during mid-day trading, a decline of 11% from the average daily volume of 1,472,969 shares. The stock had previously closed at $139.42.

Several analysts have issued reports on CNC shares. Mitsubishi UFJ Financial Group started coverage on shares of Centene in a research note on Wednesday, September 19th. They issued an “overweight” rating and a $170.00 target price on the stock. Morgan Stanley increased their target price on shares of Centene from $138.00 to $175.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 5th. Zacks Investment Research lowered shares of Centene from a “hold” rating to a “sell” rating in a report on Tuesday, September 25th. Credit Suisse Group increased their price target on shares of Centene from $134.00 to $152.00 and gave the stock a “neutral” rating in a report on Tuesday, September 4th. Finally, Oppenheimer increased their price target on shares of Centene from $146.00 to $158.00 and gave the stock an “outperform” rating in a report on Tuesday, October 2nd. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $147.76.

The firm has a market capitalization of $29.72 billion, a P/E ratio of 28.40, a price-to-earnings-growth ratio of 1.40 and a beta of 0.82. The company has a current ratio of 1.25, a quick ratio of 1.26 and a debt-to-equity ratio of 0.59.

Centene (NYSE:CNC) last issued its quarterly earnings results on Tuesday, July 24th. The company reported $1.80 EPS for the quarter, topping the Zacks’ consensus estimate of $1.77 by $0.03. The firm had revenue of $14.18 billion for the quarter, compared to analyst estimates of $13.82 billion. Centene had a net margin of 2.06% and a return on equity of 14.57%. The business’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.59 EPS. As a group, equities analysts anticipate that Centene Corp will post 7.08 earnings per share for the current year.

In related news, EVP Christopher D. Bowers sold 3,800 shares of the stock in a transaction on Monday, September 10th. The shares were sold at an average price of $145.55, for a total transaction of $553,090.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Brandy Burkhalter sold 3,000 shares of the stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $131.90, for a total transaction of $395,700.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,550 shares of company stock worth $4,564,790. 3.00% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Financial Gravity Wealth Inc. bought a new position in shares of Centene during the 1st quarter valued at $114,000. Fort L.P. purchased a new stake in Centene during the 2nd quarter valued at $122,000. IMA Wealth Inc. purchased a new stake in Centene during the 2nd quarter valued at $124,000. Steward Partners Investment Advisory LLC boosted its position in Centene by 127.2% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,254 shares of the company’s stock valued at $155,000 after buying an additional 702 shares during the period. Finally, Cornerstone Wealth Management LLC purchased a new stake in Centene during the 2nd quarter valued at $157,000. 90.08% of the stock is currently owned by institutional investors.

Centene Company Profile (NYSE:CNC)

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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