Centene Corporation (NYSE:CNC)‘s stock had its “outperform” rating reaffirmed by Cowen and Company in a research report issued to clients and investors on Wednesday. They currently have a $105.00 price objective on the stock, up from their previous price objective of $77.00. Cowen and Company’s price target points to a potential upside of 15.54% from the company’s previous close.
Other analysts also recently issued reports about the company. Jefferies Group LLC restated a “buy” rating and issued a $94.00 price target on shares of Centene Corporation in a research note on Friday, July 14th. Bank of America Corporation lifted their price target on Centene Corporation from $93.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, July 14th. Deutsche Bank AG lifted their price target on Centene Corporation from $84.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, July 13th. BidaskClub downgraded Centene Corporation from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 1st. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $90.00 price target on shares of Centene Corporation in a research note on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, five have assigned 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 $89.00.
Shares of Centene Corporation (NYSE 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 stock has a market cap of $15.67 billion, a price-to-earnings ratio of 19.94 and a beta of 0.63. The company has a 50-day moving average price of $84.56 and a 200-day moving average price of $77.42.
Centene Corporation (NYSE:CNC) last released its quarterly earnings results on Tuesday, July 25th. The company reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.29. Centene Corporation had a return on equity of 14.62% and a net margin of 1.72%. The firm had revenue of $11.95 billion for the quarter, compared to the consensus estimate of $11.69 billion. During the same quarter last year, the business posted $1.29 EPS. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, analysts expect that Centene Corporation will post $4.92 EPS for the current fiscal year.
In other Centene Corporation news, Director Robert K. Ditmore sold 4,167 shares of the business’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $82.59, for a total transaction of $344,152.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christopher D. Bowers sold 4,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $79.43, for a total value of $317,720.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,167 shares of company stock valued at $3,470,973. 3.00% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the business. Mckinley Capital Management LLC Delaware purchased a new stake in shares of Centene Corporation in the second quarter worth about $101,000. Bronfman E.L. Rothschild L.P. boosted its position in shares of Centene Corporation by 5.9% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,662 shares of the company’s stock worth $118,000 after buying an additional 93 shares during the period. Seven Bridges Advisors LLC purchased a new stake in shares of Centene Corporation in the second quarter worth about $123,000. IFP Advisors Inc boosted its position in shares of Centene Corporation by 9.6% in the second quarter. IFP Advisors Inc now owns 1,944 shares of the company’s stock worth $155,000 after buying an additional 170 shares during the period. Finally, MV Capital Management Inc. purchased a new stake in shares of Centene Corporation in the second quarter worth about $186,000. 92.26% of the stock is owned by hedge funds and other institutional investors.
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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