The JPMorgan Chase & Co. Downgrades Centene Corp (CNC) to Neutral

The JPMorgan Chase & Co. Downgrades Centene Corp (CNC) to Neutral

A number of other equities analysts have also recently commented on CNC. Zacks Investment Research raised shares of Centene Corp from a sell rating to a hold rating in a research report on Thursday, February 16th. Jefferies Group LLC lifted their target price on Centene Corp from $67.00 to $79.00 and gave the stock a buy rating in a report on Wednesday, February 8th. Leerink Swann reissued a market perform rating and set a $64.00 target price (up previously from $62.00) on shares of Centene Corp in a report on Thursday, February 9th. Piper Jaffray Companies lifted their target price on Centene Corp from $67.00 to $76.00 and gave the stock an overweight rating in a report on Wednesday, February 8th. Finally, Barclays PLC boosted their price target on Centene Corp from $75.00 to $79.00 and gave the company an overweight rating in a research note on Wednesday, February 8th. Seven investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $79.68.

JPMorgan Chase & Co. lowered shares of Centene Corp (NYSE:CNC) from an overweight rating to a neutral rating in a research report sent to investors on Monday, May 22nd. JPMorgan Chase & Co. currently has $75.00 price objective on the stock.

Shares of Centene Corp (CNC) opened at 75.19 on Monday. The stock has a market cap of $12.95 billion, a P/E ratio of 18.51 and a beta of 0.69. The company’s 50-day moving average is $74.47 and its 200 day moving average is $66.75. Centene Corp has a 1-year low of $50.00 and a 1-year high of $77.60. Centene Corp (NYSE:CNC) last released its quarterly earnings data on Tuesday, April 25th. The company reported $1.12 EPS for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.06. Centene Corp had a net margin of 1.37% and a return on equity of 12.83%. The firm had revenue of $11.72 billion during the quarter, compared to analysts’ expectations of $11.44 billion. During the same period in the previous year, the business posted $0.74 earnings per share. The company’s revenue for the quarter was up 68.6% compared to the same quarter last year. Equities research analysts anticipate that Centene Corp will post $4.76 EPS for the current year.

Shares of Centene Corp (CNC) opened at 75.19 on Monday. The stock has a market cap of $12.95 billion, a P/E ratio of 18.51 and a beta of 0.69. The company’s 50-day moving average is $74.47 and its 200 day moving average is $66.75. Centene Corp has a 1-year low of $50.00 and a 1-year high of $77.60. In related news, EVP Jesse N. Hunter sold 5,000 shares of the stock in a transaction on Monday, May 1st. The stock was sold at an average price of $74.40, for a total value of $372,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert K. Ditmore sold 4,167 shares of the stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $72.43, for a total value of $301,815.81. The disclosure for this sale can be found here. Insiders sold a total of 20,317 shares of company stock valued at $1,460,356 over the last three months. 4.50% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bronfman E.L. Rothschild L.P. increased its position in shares of Centene Corp 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. Quadrant Capital Group LLC increased its position in shares of Centene Corp by 5.6% in the first quarter. Quadrant Capital Group LLC now owns 2,263 shares of the company’s stock worth $155,000 after buying an additional 120 shares during the period. Creative Planning increased its position in shares of Centene Corp by 5.4% in the first quarter. Creative Planning now owns 2,476 shares of the company’s stock worth $176,000 after buying an additional 127 shares during the period. Howard Hughes Medical Institute increased its position in shares of Centene Corp by 96.7% in the first quarter. Howard Hughes Medical Institute now owns 2,685 shares of the company’s stock worth $191,000 after buying an additional 1,320 shares during the period. Finally, Reliance Trust Co. of Delaware acquired a new position in shares of Centene Corp during the first quarter worth about $201,000. Hedge funds and other institutional investors own 94.14% of the company’s stock. Centene Corp 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “CNC”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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