Centene (NYSE:CNC) Now Covered by Sanford C. Bernstein

Analysts at Sanford C. Bernstein initiated coverage on shares of Centene (NYSE:CNCGet Rating) in a research note issued to investors on Thursday, The Fly reports. The firm set an “outperform” rating on the stock.

A number of other equities research analysts have also weighed in on CNC. Deutsche Bank Aktiengesellschaft lifted their price objective on Centene from $84.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, February 9th. StockNews.com initiated coverage on Centene in a research report on Thursday, March 31st. They set a “strong-buy” rating on the stock. Wells Fargo & Company dropped their price target on Centene from $96.00 to $95.00 and set an “overweight” rating on the stock in a research report on Wednesday. Mizuho lifted their price target on Centene from $78.00 to $84.00 and gave the company a “neutral” rating in a research report on Wednesday, February 9th. Finally, Bank of America lowered Centene from a “buy” rating to a “neutral” rating and dropped their price target for the company from $95.00 to $90.00 in a research report on Thursday. Five investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Centene presently has an average rating of “Buy” and a consensus target price of $91.72.

Shares of NYSE CNC traded down $3.42 during trading hours on Thursday, reaching $81.89. 4,879,361 shares of the stock traded hands, compared to its average volume of 2,878,356. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.68. The company’s 50-day simple moving average is $84.42 and its two-hundred day simple moving average is $81.46. The company has a market capitalization of $47.90 billion, a P/E ratio of 32.50, a price-to-earnings-growth ratio of 1.06 and a beta of 0.52. Centene has a 52-week low of $59.67 and a 52-week high of $89.92.

Centene (NYSE:CNCGet Rating) last announced its quarterly earnings results on Tuesday, April 26th. The company reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.15. The business had revenue of $37.19 billion for the quarter, compared to analysts’ expectations of $34.48 billion. Centene had a return on equity of 11.82% and a net margin of 1.12%. The business’s quarterly revenue was up 24.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.63 EPS. As a group, sell-side analysts forecast that Centene will post 5.48 earnings per share for the current fiscal year.

In other Centene news, EVP Mark J. Brooks sold 3,690 shares of the company’s stock in a transaction that occurred on Thursday, March 24th. The stock was sold at an average price of $82.71, for a total transaction of $305,199.90. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Shannon Bagley sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, April 29th. The shares were sold at an average price of $80.99, for a total value of $647,920.00. Following the sale, the executive vice president now owns 128,353 shares in the company, valued at $10,395,309.47. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Ossiam boosted its position in Centene by 29.4% during the 3rd quarter. Ossiam now owns 41,924 shares of the company’s stock valued at $2,612,000 after acquiring an additional 9,524 shares in the last quarter. Franklin Resources Inc. lifted its position in Centene by 94.4% during the 3rd quarter. Franklin Resources Inc. now owns 30,814 shares of the company’s stock worth $1,920,000 after acquiring an additional 14,961 shares during the period. OLD National Bancorp IN raised its stake in shares of Centene by 13.5% during the 4th quarter. OLD National Bancorp IN now owns 23,454 shares of the company’s stock valued at $1,932,000 after buying an additional 2,783 shares during the last quarter. Profund Advisors LLC raised its stake in shares of Centene by 3.2% during the 4th quarter. Profund Advisors LLC now owns 11,858 shares of the company’s stock valued at $977,000 after buying an additional 370 shares during the last quarter. Finally, New York State Common Retirement Fund raised its stake in shares of Centene by 11.3% during the 4th quarter. New York State Common Retirement Fund now owns 1,165,818 shares of the company’s stock valued at $96,063,000 after buying an additional 118,215 shares during the last quarter. Hedge funds and other institutional investors own 92.32% of the company’s stock.

Centene Company Profile (Get Rating)

Centene Corporation operates as a multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. Its Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term services and support, foster care, and medicare-medicaid plans, which cover dually eligible individuals, as well as aged, blind, or disabled programs.

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