Centene (NYSE:CNC) Earns “Equal Weight” Rating from Stephens

Stephens reaffirmed their equal weight rating on shares of Centene (NYSE:CNCFree Report) in a report published on Thursday, Benzinga reports. Stephens currently has a $83.00 target price on the stock.

Other equities analysts have also issued reports about the company. Oppenheimer reissued an outperform rating and set a $110.00 price target on shares of Centene in a research report on Monday, April 29th. Robert W. Baird started coverage on Centene in a research report on Thursday. They set a neutral rating and a $83.00 price target on the stock. Wells Fargo & Company boosted their price target on Centene from $89.00 to $93.00 and gave the stock an overweight rating in a research report on Monday, April 15th. StockNews.com raised Centene from a buy rating to a strong-buy rating in a research report on Monday, April 29th. Finally, Barclays boosted their price target on Centene from $101.00 to $104.00 and gave the stock an overweight rating in a research report on Thursday, May 2nd. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $84.93.

Check Out Our Latest Stock Report on CNC

Centene Stock Performance

NYSE CNC opened at $68.96 on Thursday. The firm has a market capitalization of $36.80 billion, a P/E ratio of 13.71, a P/E/G ratio of 0.94 and a beta of 0.41. Centene has a 1-year low of $60.83 and a 1-year high of $81.42. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.17 and a quick ratio of 1.17. The business’s 50-day simple moving average is $74.99 and its 200-day simple moving average is $75.61.

Centene (NYSE:CNCGet Free Report) last released its quarterly earnings data on Friday, April 26th. The company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.09 by $0.17. The business had revenue of $40.41 billion for the quarter, compared to analyst estimates of $36.43 billion. Centene had a return on equity of 14.19% and a net margin of 1.76%. The company’s revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.11 EPS. Equities analysts predict that Centene will post 6.82 EPS for the current year.

Insider Buying and Selling at Centene

In other news, Director Christopher J. Coughlin sold 878 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $76.75, for a total value of $67,386.50. Following the completion of the sale, the director now directly owns 25,504 shares in the company, valued at approximately $1,957,432. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Christopher J. Coughlin sold 878 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $76.75, for a total value of $67,386.50. Following the completion of the sale, the director now directly owns 25,504 shares in the company, valued at approximately $1,957,432. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Kenneth J. Fasola sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $77.62, for a total value of $620,960.00. Following the completion of the sale, the president now owns 300,357 shares of the company’s stock, valued at $23,313,710.34. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Boston Partners grew its stake in Centene by 0.4% during the 1st quarter. Boston Partners now owns 8,652,177 shares of the company’s stock worth $678,033,000 after buying an additional 32,427 shares during the last quarter. Cetera Advisors LLC grew its stake in Centene by 24.7% during the 1st quarter. Cetera Advisors LLC now owns 20,800 shares of the company’s stock worth $1,632,000 after buying an additional 4,122 shares during the last quarter. Cetera Investment Advisers grew its stake in Centene by 526.7% during the 1st quarter. Cetera Investment Advisers now owns 56,230 shares of the company’s stock worth $4,413,000 after buying an additional 47,257 shares during the last quarter. Beck Bode LLC grew its stake in Centene by 1.8% during the 1st quarter. Beck Bode LLC now owns 66,844 shares of the company’s stock worth $5,246,000 after buying an additional 1,194 shares during the last quarter. Finally, Atria Investments Inc grew its stake in Centene by 13.3% during the 1st quarter. Atria Investments Inc now owns 25,030 shares of the company’s stock worth $1,964,000 after buying an additional 2,944 shares during the last quarter. 93.63% of the stock is currently owned by institutional investors.

Centene Company Profile

(Get Free Report)

Centene Corporation operates as a healthcare enterprise that provides programs and services to under-insured and uninsured families, commercial organizations, and military families in the United States. The company operates through Medicaid, Medicare, Commercial, and Other segments. The Medicaid segment offers health plan coverage, including medicaid expansion, aged, blind, disabled, children's health insurance program, foster care, medicare-medicaid plans, long-term services and support.

See Also

Analyst Recommendations for Centene (NYSE:CNC)

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