Centene Corporation (NYSE:CNC)‘s stock had its “buy” rating reiterated by research analysts at Oppenheimer Holdings, Inc. in a research note issued on Wednesday, November 8th. They currently have a $111.00 target price on the stock. Oppenheimer Holdings, Inc.’s target price suggests a potential upside of 18.36% from the stock’s previous close.
CNC has been the subject of a number of other reports. Cantor Fitzgerald reiterated a “buy” rating and set a $90.00 price target on shares of Centene Corporation in a report on Tuesday, July 25th. Cowen and Company restated an “outperform” rating and set a $105.00 target price (up from $77.00) on shares of Centene Corporation in a report on Wednesday, September 13th. Morgan Stanley reiterated an “overweight” rating and issued a $94.00 price objective (up previously from $86.00) on shares of Centene Corporation in a research note on Wednesday, July 26th. Bank of America Corporation lifted their price objective on Centene Corporation from $93.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, July 14th. Finally, Zacks Investment Research lowered Centene Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $99.11.
Centene Corporation (NYSE:CNC) traded down $1.36 during trading on Wednesday, reaching $93.78. The company’s stock had a trading volume of 1,233,500 shares, compared to its average volume of 1,698,566. Centene Corporation has a 1-year low of $54.40 and a 1-year high of $98.71. The stock has a market cap of $16,180.00, a price-to-earnings ratio of 18.12, a PEG ratio of 1.45 and a beta of 0.67. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.71.
Centene Corporation (NYSE:CNC) last posted its quarterly earnings data on Tuesday, October 24th. The company reported $1.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.11. The firm had revenue of $11.90 billion during the quarter, compared to the consensus estimate of $11.75 billion. Centene Corporation had a return on equity of 14.79% and a net margin of 1.81%. The firm’s revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.12 EPS. sell-side analysts forecast that Centene Corporation will post 4.98 earnings per share for the current fiscal year.
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In other Centene Corporation news, Director Robert K. Ditmore sold 4,167 shares of the company’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $90.42, for a total transaction of $376,780.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.00% of the company’s stock.
A number of large investors have recently made changes to their positions in CNC. Mckinley Capital Management LLC Delaware purchased a new stake in shares of Centene Corporation in the second quarter worth about $101,000. Seven Bridges Advisors LLC purchased a new position in Centene Corporation in the second quarter valued at about $123,000. IFP Advisors Inc lifted its holdings in Centene Corporation by 9.6% during the 2nd quarter. IFP Advisors Inc now owns 1,944 shares of the company’s stock worth $155,000 after buying an additional 170 shares during the last quarter. Baldwin Brothers Inc. MA bought a new position in Centene Corporation during the 3rd quarter worth approximately $185,000. Finally, MV Capital Management Inc. bought a new position in Centene Corporation during the 2nd quarter worth approximately $186,000. Institutional investors own 93.70% of the company’s stock.
Centene Corporation 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.
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