Centene (NYSE:CNC) Raised to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of Centene (NYSE:CNCFree Report) from a buy rating to a strong-buy rating in a report released on Friday.

Other research analysts have also recently issued reports about the stock. Cantor Fitzgerald reissued an overweight rating and set a $90.00 price target on shares of Centene in a report on Wednesday, June 12th. Oppenheimer reissued an outperform rating and set a $110.00 price target on shares of Centene in a report on Friday. Wells Fargo & Company increased their target price on shares of Centene from $89.00 to $93.00 and gave the company an overweight rating in a report on Monday, April 15th. Baird R W raised shares of Centene to a hold rating in a report on Thursday, May 30th. Finally, Robert W. Baird began coverage on shares of Centene in a report on Thursday, May 30th. They issued a neutral rating and a $83.00 target price for the company. Eight investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $84.93.

Check Out Our Latest Analysis on Centene

Centene Stock Performance

NYSE CNC opened at $67.93 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.17 and a quick ratio of 1.17. Centene has a 1 year low of $60.83 and a 1 year high of $81.42. The company has a market capitalization of $36.25 billion, a PE ratio of 13.50, a P/E/G ratio of 0.87 and a beta of 0.47. The company has a fifty day moving average of $73.16 and a two-hundred day moving average of $75.13.

Centene (NYSE:CNCGet Free Report) last announced its earnings results on Friday, April 26th. The company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.09 by $0.17. Centene had a net margin of 1.76% and a return on equity of 14.19%. The business had revenue of $40.41 billion during the quarter, compared to analysts’ expectations of $36.43 billion. During the same period in the prior year, the company earned $2.11 earnings per share. The business’s revenue was up 3.9% compared to the same quarter last year. As a group, analysts expect that Centene will post 6.82 earnings per share for the current year.

Insiders Place Their Bets

In other Centene news, Director Christopher J. Coughlin sold 878 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $76.75, for a total transaction of $67,386.50. Following the transaction, the director now owns 25,504 shares of the company’s stock, valued at $1,957,432. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, President Kenneth J. Fasola sold 8,000 shares of the firm’s stock in a transaction 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 transaction, the president now owns 300,357 shares of the company’s stock, valued at approximately $23,313,710.34. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Christopher J. Coughlin sold 878 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $76.75, for a total transaction of $67,386.50. Following the completion of the transaction, the director now directly owns 25,504 shares in the company, valued at approximately $1,957,432. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Centene

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hohimer Wealth Management LLC increased its stake in Centene by 1.1% during the 4th quarter. Hohimer Wealth Management LLC now owns 12,020 shares of the company’s stock worth $892,000 after buying an additional 131 shares during the period. EP Wealth Advisors LLC grew its holdings in Centene by 1.0% during the 1st quarter. EP Wealth Advisors LLC now owns 13,604 shares of the company’s stock worth $1,068,000 after acquiring an additional 133 shares in the last quarter. Sandy Spring Bank grew its holdings in Centene by 10.1% during the 4th quarter. Sandy Spring Bank now owns 1,629 shares of the company’s stock worth $121,000 after acquiring an additional 150 shares in the last quarter. Fidelis Capital Partners LLC grew its holdings in Centene by 5.0% during the 1st quarter. Fidelis Capital Partners LLC now owns 3,316 shares of the company’s stock worth $260,000 after acquiring an additional 158 shares in the last quarter. Finally, First Bank & Trust grew its holdings in Centene by 4.1% during the 4th quarter. First Bank & Trust now owns 4,154 shares of the company’s stock worth $308,000 after acquiring an additional 162 shares in the last quarter. Hedge funds and other institutional investors own 93.63% of the company’s stock.

About Centene

(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.

Further Reading

Analyst Recommendations for Centene (NYSE:CNC)

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