Shares of Centene Corp (NYSE:CNC) have been assigned a consensus recommendation of “Buy” from the sixteen ratings firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $75.26.
Several equities analysts recently commented on CNC shares. SunTrust Banks dropped their price objective on Centene to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, April 24th. ValuEngine downgraded Centene from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 2nd. Zacks Investment Research downgraded Centene from a “buy” rating to a “hold” rating and set a $59.00 price objective on the stock. in a research note on Wednesday, May 29th. Cantor Fitzgerald reiterated a “buy” rating and issued a $83.00 price objective on shares of Centene in a research note on Sunday, April 21st. Finally, Citigroup raised shares of Centene from a “neutral” rating to a “buy” rating and set a $69.00 target price on the stock in a report on Friday, May 10th.
Centene stock traded up $0.45 during trading on Tuesday, hitting $48.01. The stock had a trading volume of 3,707,600 shares, compared to its average volume of 5,022,833. Centene has a 1 year low of $45.44 and a 1 year high of $74.49. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.58. The stock’s 50 day moving average is $51.58 and its two-hundred day moving average is $57.74. The stock has a market cap of $19.67 billion, a price-to-earnings ratio of 13.56, a price-to-earnings-growth ratio of 0.76 and a beta of 0.83.
Centene (NYSE:CNC) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.24 by $0.10. Centene had a return on equity of 15.87% and a net margin of 1.84%. The business had revenue of $18.36 billion for the quarter, compared to the consensus estimate of $18.02 billion. During the same quarter in the prior year, the business earned $0.90 earnings per share. Centene’s revenue for the quarter was up 29.4% on a year-over-year basis. As a group, equities research analysts anticipate that Centene will post 4.42 EPS for the current fiscal year.
In other Centene news, Director Jessica L. Blume bought 2,850 shares of the stock in a transaction on Friday, July 26th. The shares were acquired at an average price of $52.99 per share, with a total value of $151,021.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.50% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in CNC. Toth Financial Advisory Corp increased its holdings in shares of Centene by 100.0% in the first quarter. Toth Financial Advisory Corp now owns 480 shares of the company’s stock worth $25,000 after purchasing an additional 240 shares during the period. Huntington National Bank increased its holdings in shares of Centene by 110.7% in the first quarter. Huntington National Bank now owns 472 shares of the company’s stock worth $25,000 after purchasing an additional 248 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Centene in the first quarter worth $27,000. Shamrock Asset Management LLC increased its holdings in shares of Centene by 100.0% in the first quarter. Shamrock Asset Management LLC now owns 522 shares of the company’s stock worth $28,000 after purchasing an additional 261 shares during the period. Finally, Compagnie Lombard Odier SCmA bought a new position in shares of Centene in the second quarter worth $30,000. 89.86% of the stock is currently owned by hedge funds and other 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. The company's Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term services and support, foster care, and medicare-medicaid plans, which covers dually eligible individuals, as well as aged, blind, or disabled programs.
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