Centene (NYSE:CNC) Rating Increased to Strong-Buy at StockNews.com

Centene (NYSE:CNC) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Monday.

Several other analysts also recently weighed in on CNC. Stephens reiterated an “equal weight” rating and issued a $85.00 price objective (down previously from $92.00) on shares of Centene in a research report on Thursday, March 21st. Barclays began coverage on Centene in a research report on Wednesday, March 6th. They issued an “overweight” rating and a $101.00 price objective for the company. Oppenheimer reiterated an “outperform” rating and issued a $110.00 price objective on shares of Centene in a research report on Monday. Wells Fargo & Company upped their target price on Centene from $89.00 to $93.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $90.00 target price on shares of Centene in a report on Thursday, April 4th. Six investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $85.00.

Centene Stock Down 1.0 %

Shares of CNC opened at $73.06 on Monday. The firm has a market cap of $39.08 billion, a P/E ratio of 14.52, a P/E/G ratio of 0.92 and a beta of 0.38. The stock has a 50 day simple moving average of $76.10 and a two-hundred day simple moving average of $74.86. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.17 and a quick ratio of 1.11. Centene has a 1 year low of $60.83 and a 1 year high of $81.42.

Centene (NYSE:CNC) last issued its earnings results on Friday, April 26th. The company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.17. Centene had a return on equity of 14.19% and a net margin of 1.76%. The business had revenue of $40.41 billion during the quarter, compared to analyst estimates of $36.43 billion. During the same quarter in the prior year, the firm earned $2.11 earnings per share. Centene’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, analysts forecast that Centene will post 6.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, President Kenneth J. Fasola sold 12,000 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $75.07, for a total value of $900,840.00. Following the sale, the president now directly owns 235,365 shares of the company’s stock, valued at $17,668,850.55. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Lori Jean Robinson sold 10,000 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $77.41, for a total value of $774,100.00. Following the sale, the director now directly owns 11,455 shares of the company’s stock, valued at $886,731.55. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Kenneth J. Fasola sold 12,000 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $75.07, for a total value of $900,840.00. Following the completion of the sale, the president now directly owns 235,365 shares in the company, valued at $17,668,850.55. The disclosure for this sale can be found here. 0.29% of the stock is owned by insiders.

Institutional Investors Weigh In On Centene

A number of institutional investors have recently modified their holdings of CNC. Operose Advisors LLC purchased a new stake in shares of Centene in the third quarter worth $25,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Centene during the fourth quarter valued at $25,000. Rise Advisors LLC purchased a new stake in shares of Centene during the first quarter valued at $25,000. OFI Invest Asset Management purchased a new stake in shares of Centene during the third quarter valued at $26,000. Finally, Riggs Asset Managment Co. Inc. purchased a new stake in shares of Centene during the fourth quarter valued at $32,000. 93.63% of the stock is owned by hedge funds and other institutional investors.

Centene Company Profile

Centene Corporation operates as a healthcare enterprise that provides programs and services to under-insured and uninsured families, commercial organizations, and military families in the United States. The company operates through Medicaid, Medicare, Commercial, and Other segments. The Medicaid segment offers health plan coverage, including medicaid expansion, aged, blind, disabled, children's health insurance program, foster care, medicare-medicaid plans, long-term services and support.