Centene (NYSE:CNC)‘s stock had its “outperform” rating reissued by stock analysts at Citigroup in a report released on Wednesday, February 7th, The Fly reports. They presently have a $130.00 price target on the stock, up from their prior price target of $122.00. Citigroup’s target price points to a potential upside of 26.04% from the company’s previous close.
Other analysts also recently issued research reports about the stock. Cowen reiterated a “buy” rating and issued a $115.00 target price on shares of Centene in a report on Tuesday, October 24th. ValuEngine upgraded shares of Centene from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Jefferies Group increased their target price on shares of Centene from $112.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, December 18th. Piper Jaffray Companies reiterated a “buy” rating and set a $134.00 target price on shares of Centene in a research report on Monday, December 18th. Finally, Goldman Sachs Group started coverage on shares of Centene in a research report on Wednesday, January 3rd. They issued a “buy” rating and a $135.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $110.28.
Centene (CNC) traded up $0.14 during trading hours on Wednesday, hitting $103.14. 180,835 shares of the stock were exchanged, compared to its average volume of 1,382,335. The company has a market cap of $17,879.62, a price-to-earnings ratio of 21.99, a P/E/G ratio of 0.97 and a beta of 0.71. Centene has a 12 month low of $65.03 and a 12 month high of $112.42. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.99 and a current ratio of 0.93.
Centene (NYSE:CNC) last issued its earnings results on Tuesday, February 6th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.03. Centene had a net margin of 1.71% and a return on equity of 13.68%. The business had revenue of $12.81 billion for the quarter, compared to analyst estimates of $12.25 billion. During the same period in the prior year, the firm earned $1.19 earnings per share. Centene’s revenue was up 7.5% on a year-over-year basis. equities analysts expect that Centene will post 7.23 EPS for the current year.
In related news, EVP Jesse N. Hunter sold 10,000 shares of the company’s stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $98.73, for a total value of $987,300.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robert K. Ditmore sold 8,750 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $104.13, for a total value of $911,137.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,500 shares of company stock worth $3,311,613. Company insiders own 3.00% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Focused Wealth Management Inc boosted its position in shares of Centene by 900.0% during the 4th quarter. Focused Wealth Management Inc now owns 1,000 shares of the company’s stock valued at $101,000 after acquiring an additional 900 shares during the last quarter. Financial Gravity Companies Inc. bought a new position in shares of Centene during the 4th quarter valued at approximately $112,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Centene during the 4th quarter valued at approximately $131,000. Tower Research Capital LLC TRC bought a new position in shares of Centene during the 4th quarter valued at approximately $145,000. Finally, Advisors Preferred LLC bought a new position in shares of Centene during the 4th quarter valued at approximately $159,000. 92.03% of the stock is owned by 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.
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