Centene Corporation (NYSE:CNC) had its price target hoisted by stock analysts at Cantor Fitzgerald to $107.00 in a research note issued on Wednesday. The firm presently has an “overweight” rating on the stock. Cantor Fitzgerald’s target price suggests a potential upside of 17.74% from the company’s current price.
A number of other brokerages have also recently issued reports on CNC. Piper Jaffray Companies reissued a “buy” rating and issued a $105.00 price objective on shares of Centene Corporation in a research note on Thursday, July 27th. Jefferies Group LLC reissued a “buy” rating and issued a $98.00 price objective on shares of Centene Corporation in a research note on Thursday, July 27th. ValuEngine raised shares of Centene Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 27th. Zacks Investment Research raised shares of Centene Corporation from a “hold” rating to a “strong-buy” rating and set a $97.00 price objective on the stock in a research note on Thursday, July 27th. Finally, BidaskClub cut shares of Centene Corporation from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company. Centene Corporation currently has an average rating of “Buy” and an average price target of $88.00.
Shares of Centene Corporation (CNC) opened at 90.88 on Wednesday. Centene Corporation has a 12-month low of $50.00 and a 12-month high of $91.16. The firm has a market capitalization of $15.67 billion, a P/E ratio of 19.94 and a beta of 0.63. The firm’s 50-day moving average price is $84.56 and its 200-day moving average price is $77.42.
Centene Corporation (NYSE:CNC) last announced its earnings results on Tuesday, July 25th. The company reported $1.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.30 by $0.29. Centene Corporation had a net margin of 1.72% and a return on equity of 14.62%. The company had revenue of $11.95 billion for the quarter, compared to analysts’ expectations of $11.69 billion. During the same period last year, the firm earned $1.29 earnings per share. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. Equities analysts predict that Centene Corporation will post $4.92 earnings per share for the current fiscal year.
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In other news, EVP Christopher D. Bowers sold 4,000 shares of Centene Corporation stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $79.43, for a total transaction of $317,720.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Michael F. Neidorff sold 35,000 shares of Centene Corporation stock in a transaction on Thursday, July 6th. The stock was sold at an average price of $80.26, for a total transaction of $2,809,100.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,167 shares of company stock worth $3,470,973. 3.00% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. CFO4Life Group LLC lifted its holdings in Centene Corporation by 0.4% in the second quarter. CFO4Life Group LLC now owns 6,598 shares of the company’s stock valued at $527,000 after buying an additional 25 shares during the period. MML Investors Services LLC lifted its holdings in Centene Corporation by 1.0% in the second quarter. MML Investors Services LLC now owns 3,587 shares of the company’s stock valued at $287,000 after buying an additional 34 shares during the period. Cleararc Capital Inc. lifted its holdings in Centene Corporation by 0.8% in the first quarter. Cleararc Capital Inc. now owns 4,198 shares of the company’s stock valued at $299,000 after buying an additional 35 shares during the period. Keybank National Association OH lifted its holdings in Centene Corporation by 1.1% in the second quarter. Keybank National Association OH now owns 3,180 shares of the company’s stock valued at $254,000 after buying an additional 36 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Centene Corporation by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,799 shares of the company’s stock valued at $1,022,000 after buying an additional 38 shares during the period. Institutional investors and hedge funds own 92.26% of the company’s stock.
About Centene Corporation
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.
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