Centene Corporation (NYSE:CNC) Receives Average Rating of “Hold” from Brokerages

Shares of Centene Corporation (NYSE:CNC) have earned an average rating of “Hold” from the twenty-one brokerages that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $70.05.

Several research analysts recently weighed in on the company. Wells Fargo & Company set a $69.00 price target on Centene and gave the company an “equal weight” rating in a research report on Monday, July 13th. Barclays reaffirmed an “overweight” rating and set a $80.00 target price (up from $75.00) on shares of Centene in a research note on Wednesday, July 29th. Bank of America upped their target price on Centene from $72.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, June 4th. Zacks Research upgraded shares of Centene from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 29th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Centene in a research report on Friday, September 11th.

Centene Stock Performance

Centene stock opened at $62.01 on Friday. Centene has a fifty-two week low of $31.63 and a fifty-two week high of $69.63. The firm’s 50 day simple moving average is $65.17 and its 200-day simple moving average is $56.44. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.15 and a quick ratio of 1.15. The company has a market cap of $30.63 billion, a P/E ratio of -5.94, a price-to-earnings-growth ratio of 0.40 and a beta of 1.10.

Centene (NYSE:CNC) last issued its quarterly earnings results on Monday, July 27th. The company reported $2.51 EPS for the quarter, beating the consensus estimate of $1.09 by $1.42. Centene had a negative net margin of 2.51% and a positive return on equity of 12.12%. The business had revenue of $53.58 billion during the quarter, compared to the consensus estimate of $47.64 billion. During the same quarter in the prior year, the firm earned ($0.16) EPS. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. As a group, equities research analysts predict that Centene will post 4.89 EPS for the current year.

Insider Activity at Centene

In other news, General Counsel Christopher Koster sold 56,500 shares of the company’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $66.90, for a total value of $3,779,850.00. Following the transaction, the general counsel directly owned 248,854 shares of the company’s stock, valued at approximately $16,648,332.60. This represents a 18.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.37% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Silicon Valley Capital Partners acquired a new position in Centene in the second quarter worth approximately $25,000. MidFirst Bank bought a new stake in Centene in the second quarter worth approximately $32,000. Fiduciary Financial Advisors acquired a new position in shares of Centene during the 2nd quarter worth $34,000. Transamerica Financial Advisors LLC bought a new position in shares of Centene during the 2nd quarter valued at $42,000. Finally, Elevation Wealth Partners LLC lifted its stake in shares of Centene by 564.6% in the 2nd quarter. Elevation Wealth Partners LLC now owns 658 shares of the company’s stock valued at $42,000 after purchasing an additional 559 shares during the last quarter. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Centene Company Profile

Centene Corporation (NYSE: CNC) is a managed-care company that provides health insurance and related healthcare services, primarily through government-sponsored programs. Its offerings include Medicaid, Medicare Advantage and Medicare Prescription Drug plans, coverage for individuals and families through the health insurance marketplace, and health services for military families and veterans.

The company markets several healthcare brands, including Ambetter, which provides marketplace plans, and Wellcare, which offers Medicare products.