Centene (CNC) Earns Overweight Rating from Analysts at Stephens

Stephens began coverage on shares of Centene (NYSE:CNC) in a research report sent to investors on Monday, Marketbeat.com reports. The brokerage issued an overweight rating and a $147.00 price objective on the stock.

A number of other equities research analysts have also issued reports on the company. Mitsubishi UFJ Financial Group initiated coverage on Centene in a research report on Wednesday, September 19th. They issued an overweight rating and a $170.00 target price on the stock. Zacks Investment Research lowered Centene from a hold rating to a sell rating in a research report on Tuesday, September 25th. Goldman Sachs Group lowered Centene from a conviction-buy rating to a buy rating in a research report on Monday, December 17th. Oppenheimer boosted their price target on Centene from $146.00 to $158.00 and gave the stock an outperform rating in a research report on Tuesday, October 2nd. Finally, boosted their price target on Centene from $146.00 to $158.00 and gave the stock an outperform rating in a research report on Tuesday, October 2nd. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $154.98.

Shares of Centene stock opened at $126.46 on Monday. Centene has a 52-week low of $97.61 and a 52-week high of $148.98. The company has a market capitalization of $25.69 billion, a P/E ratio of 25.14, a PEG ratio of 1.03 and a beta of 1.27. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.59.

Centene (NYSE:CNC) last announced its earnings results on Tuesday, October 23rd. The company reported $1.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.77 by $0.02. Centene had a return on equity of 14.42% and a net margin of 1.58%. The business had revenue of $16.18 billion for the quarter, compared to analyst estimates of $15.93 billion. During the same quarter last year, the firm earned $1.35 EPS. Centene’s revenue for the quarter was up 36.0% compared to the same quarter last year. Research analysts forecast that Centene will post 7.04 earnings per share for the current year.

In other Centene news, EVP Mark J. Brooks sold 2,540 shares of the business’s stock in a transaction that occurred on Tuesday, December 18th. The stock was sold at an average price of $121.26, for a total transaction of $308,000.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert K. Ditmore sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, October 25th. The stock was sold at an average price of $129.24, for a total value of $1,938,600.00. The disclosure for this sale can be found here. 3.00% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Centene by 6.1% during the 3rd quarter. BlackRock Inc. now owns 16,818,075 shares of the company’s stock worth $2,434,920,000 after acquiring an additional 970,422 shares during the period. Capital International Investors bought a new position in shares of Centene during the 3rd quarter worth approximately $1,012,845,000. FMR LLC boosted its stake in shares of Centene by 203.4% during the 3rd quarter. FMR LLC now owns 2,419,139 shares of the company’s stock worth $350,243,000 after acquiring an additional 1,621,757 shares during the period. Northern Trust Corp boosted its stake in shares of Centene by 15.6% during the 2nd quarter. Northern Trust Corp now owns 2,306,279 shares of the company’s stock worth $284,156,000 after acquiring an additional 311,998 shares during the period. Finally, Deutsche Bank AG boosted its stake in shares of Centene by 7.7% during the 3rd quarter. Deutsche Bank AG now owns 1,968,276 shares of the company’s stock worth $284,963,000 after acquiring an additional 141,514 shares during the period. Institutional investors own 88.63% of the company’s stock.

About Centene

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. It operates through two segments, Managed Care and Specialty Services. The Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term care, foster care, and dual eligible individual, as well as aged, blind, or disabled programs.

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Analyst Recommendations for Centene (NYSE:CNC)

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