Centene (CNC) Stock Rating Reaffirmed by Piper Jaffray Companies

Piper Jaffray Companies reaffirmed their buy rating on shares of Centene (NYSE:CNC) in a research report sent to investors on Monday, December 18th. Piper Jaffray Companies currently has a $134.00 price objective on the stock.

CNC has been the subject of several other reports. Credit Suisse Group started coverage on Centene in a research note on Thursday, November 2nd. They issued a neutral rating and a $102.00 price objective for the company. Cantor Fitzgerald raised their price objective on Centene to $107.00 and gave the stock an overweight rating in a research note on Wednesday, September 13th. BMO Capital Markets started coverage on Centene in a research report on Tuesday, October 17th. They set an outperform rating and a $120.00 price target for the company. Oppenheimer reiterated a buy rating and set a $111.00 price target on shares of Centene in a research report on Wednesday, November 8th. Finally, Zacks Investment Research raised Centene from a hold rating to a buy rating and set a $107.00 price objective on the stock in a report on Friday, September 15th. One analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of Buy and an average price target of $104.21.

Centene (NYSE CNC) traded up $2.70 on Monday, hitting $109.48. The stock had a trading volume of 757,900 shares, compared to its average volume of 1,430,000. Centene has a fifty-two week low of $61.15 and a fifty-two week high of $109.70. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.71. The company has a market cap of $18,890.00, a P/E ratio of 22.62, a price-to-earnings-growth ratio of 1.34 and a beta of 0.70.

Centene (NYSE:CNC) last issued its quarterly earnings data on Tuesday, October 24th. The company reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.11. Centene had a return on equity of 14.79% and a net margin of 1.81%. The company had revenue of $11.90 billion for the quarter, compared to the consensus estimate of $11.75 billion. During the same quarter last year, the company earned $1.12 earnings per share. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. equities analysts forecast that Centene will post 4.99 EPS for the current fiscal year.

In related news, Director Robert K. Ditmore sold 8,750 shares of the business’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $104.30, for a total value of $912,625.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Keith H. Williamson sold 5,000 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $100.11, for a total value of $500,550.00. The disclosure for this sale can be found here. Insiders sold 27,917 shares of company stock worth $2,777,255 in the last 90 days. Company insiders own 3.00% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mckinley Capital Management LLC Delaware purchased a new stake in Centene during the 2nd quarter valued at approximately $101,000. IFP Advisors Inc raised its stake in Centene by 9.6% during the 2nd quarter. IFP Advisors Inc now owns 1,944 shares of the company’s stock valued at $155,000 after acquiring an additional 170 shares during the last quarter. Baldwin Brothers Inc. MA purchased a new stake in Centene during the 3rd quarter valued at approximately $185,000. Sii Investments Inc. WI purchased a new stake in Centene during the 2nd quarter valued at approximately $202,000. Finally, Calamos Advisors LLC purchased a new stake in Centene during the 3rd quarter valued at approximately $207,000. 91.84% of the stock is owned by hedge funds and other institutional investors.

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Centene 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.

Analyst Recommendations for Centene (NYSE:CNC)

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