Centene Corporation (CNC) Given Average Rating of “Buy” by Analysts

Shares of Centene Corporation (NYSE:CNC) have been assigned a consensus rating of “Buy” from the twenty-one research firms that are presently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation, seventeen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $110.28.

Several brokerages have recently issued reports on CNC. ValuEngine raised Centene from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Morgan Stanley upped their price target on Centene from $118.00 to $126.00 and gave the stock an “overweight” rating in a report on Wednesday. Cantor Fitzgerald upped their price target on Centene from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday. Credit Suisse Group upped their price target on Centene from $110.00 to $112.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Citigroup reaffirmed an “outperform” rating and issued a $130.00 price target (up previously from $122.00) on shares of Centene in a report on Wednesday.

In other Centene news, Director Robert K. Ditmore sold 8,750 shares of the stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $104.30, for a total transaction of $912,625.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jesse N. Hunter sold 10,000 shares of the stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $98.73, for a total value of $987,300.00. The disclosure for this sale can be found here. Insiders have sold 23,750 shares of company stock valued at $2,400,475 in the last three months. Insiders own 3.00% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Centene during the fourth quarter valued at approximately $131,000. Baldwin Brothers Inc. MA acquired a new position in shares of Centene during the third quarter valued at approximately $185,000. SeaCrest Wealth Management LLC acquired a new position in shares of Centene during the fourth quarter valued at approximately $188,000. Calamos Advisors LLC acquired a new position in shares of Centene during the third quarter valued at approximately $207,000. Finally, Commerzbank Aktiengesellschaft FI acquired a new position in shares of Centene during the third quarter valued at approximately $207,000. 92.41% of the stock is owned by institutional investors and hedge funds.

Centene (NYSE CNC) opened at $100.40 on Friday. The stock has a market capitalization of $18,103.35, a PE ratio of 21.41, a PEG ratio of 1.04 and a beta of 0.71. The company has a quick ratio of 0.99, a current ratio of 0.93 and a debt-to-equity ratio of 0.68. Centene has a fifty-two week low of $65.03 and a fifty-two week high of $112.42.

Centene (NYSE:CNC) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.03. The business had revenue of $12.81 billion during the quarter, compared to analysts’ expectations of $12.25 billion. Centene had a return on equity of 13.68% and a net margin of 1.71%. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.19 EPS. sell-side analysts expect that Centene will post 7.2 earnings per share for the current year.

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Centene Company Profile

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.

Analyst Recommendations for Centene (NYSE:CNC)

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