Shares of Centene Corp. (NYSE:CNC) have received a consensus recommendation of “Buy” from the twenty-one ratings firms that are presently covering the stock. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and sixteen have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $74.92.
Several brokerages recently weighed in on CNC. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Centene Corp. in a research note on Thursday, September 29th. Evercore ISI began coverage on Centene Corp. in a research note on Thursday, September 22nd. They set a “buy” rating and a $79.00 target price for the company. Leerink Swann reaffirmed a “hold” rating on shares of Centene Corp. in a research note on Tuesday, October 4th. Credit Suisse Group AG decreased their target price on Centene Corp. from $78.00 to $76.00 and set an “outperform” rating for the company in a research note on Wednesday, October 5th. Finally, Zacks Investment Research cut Centene Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, October 11th.
In related news, EVP Jesse N. Hunter sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $65.00, for a total value of $325,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Mark J. Brooks sold 1,099 shares of the firm’s stock in a transaction that occurred on Thursday, December 1st. The shares were sold at an average price of $58.00, for a total value of $63,742.00. The disclosure for this sale can be found here. 4.50% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in CNC. Price T Rowe Associates Inc. MD raised its stake in Centene Corp. by 45.0% in the third quarter. Price T Rowe Associates Inc. MD now owns 16,730,264 shares of the company’s stock worth $1,120,258,000 after buying an additional 5,194,394 shares during the period. Winslow Capital Management LLC acquired a new stake in Centene Corp. during the second quarter worth about $293,813,000. UBS Asset Management Americas Inc. raised its stake in Centene Corp. by 463.7% in the third quarter. UBS Asset Management Americas Inc. now owns 2,371,963 shares of the company’s stock worth $158,828,000 after buying an additional 1,951,174 shares during the period. BlackRock Advisors LLC raised its stake in Centene Corp. by 62.6% in the third quarter. BlackRock Advisors LLC now owns 3,379,178 shares of the company’s stock worth $226,270,000 after buying an additional 1,301,558 shares during the period. Finally, 1832 Asset Management L.P. raised its stake in Centene Corp. by 186.6% in the second quarter. 1832 Asset Management L.P. now owns 1,608,591 shares of the company’s stock worth $192,191,000 after buying an additional 1,047,361 shares during the period. 93.82% of the stock is currently owned by hedge funds and other institutional investors.
Centene Corp. (NYSE:CNC) opened at 62.87 on Thursday. Centene Corp. has a 1-year low of $47.36 and a 1-year high of $75.57. The firm has a market cap of $10.74 billion, a P/E ratio of 23.16 and a beta of 0.74. The stock’s 50 day moving average is $58.63 and its 200-day moving average is $64.01.
Centene Corp. (NYSE:CNC) last announced its earnings results on Tuesday, October 25th. The company reported $1.11 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.15 by $0.04. Centene Corp. had a net margin of 1.17% and a return on equity of 13.40%. The firm had revenue of $10.85 billion for the quarter, compared to the consensus estimate of $10.96 million. During the same period in the prior year, the business earned $0.87 EPS. The company’s quarterly revenue was up 86.3% compared to the same quarter last year. Analysts forecast that Centene Corp. will post $4.34 EPS for the current year.
About Centene Corp.
Centene Corporation is a diversified healthcare company that provides programs and services to government sponsored healthcare programs. The Company also provides education and outreach programs to inform and assist members in accessing appropriate healthcare services. The Company operates through two segments.