Centene Co. (NYSE:CNC) – Equities research analysts at Leerink Swann raised their FY2020 earnings per share estimates for shares of Centene in a research note issued on Monday, April 16th. Leerink Swann analyst A. Gupte now forecasts that the company will post earnings per share of $8.64 for the year, up from their prior forecast of $6.95. Leerink Swann currently has a “Market Perform” rating and a $90.00 target price on the stock.
Several other research firms have also issued reports on CNC. Zacks Investment Research lowered Centene from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 10th. ValuEngine raised Centene from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Morgan Stanley boosted their price target on Centene from $118.00 to $126.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. Credit Suisse Group boosted their price target on Centene from $110.00 to $112.00 and gave the company a “neutral” rating in a report on Wednesday, February 7th. Finally, Cantor Fitzgerald boosted their price target on Centene from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $110.28.
NYSE:CNC opened at $112.22 on Wednesday. Centene has a 52-week low of $70.58 and a 52-week high of $113.88. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market cap of $19,265.96, a price-to-earnings ratio of 22.31, a P/E/G ratio of 1.05 and a beta of 0.75.
Centene (NYSE:CNC) last released its quarterly earnings results on Tuesday, February 6th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.03. Centene had a return on equity of 13.68% and a net margin of 1.71%. The business had revenue of $12.81 billion during the quarter, compared to analyst estimates of $12.25 billion. During the same quarter in the previous year, the company posted $1.19 earnings per share. Centene’s revenue for the quarter was up 7.5% on a year-over-year basis.
A number of institutional investors have recently made changes to their positions in CNC. Focused Wealth Management Inc boosted its stake in Centene by 900.0% during the fourth quarter. Focused Wealth Management Inc now owns 1,000 shares of the company’s stock valued at $101,000 after buying an additional 900 shares during the last quarter. Financial Gravity Companies Inc. bought a new position in Centene during the fourth quarter valued at approximately $112,000. We Are One Seven LLC bought a new position in Centene during the fourth quarter valued at approximately $114,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Centene during the fourth quarter valued at approximately $131,000. Finally, Tower Research Capital LLC TRC bought a new position in Centene during the fourth quarter valued at approximately $145,000. 90.58% of the stock is owned by institutional investors.
In related news, EVP Christopher D. Bowers sold 4,800 shares of the stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $102.27, for a total transaction of $490,896.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert K. Ditmore sold 8,750 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were 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. 3.00% of the stock is currently owned by corporate insiders.
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Centene Corporation operates as a diversified and multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. It operates through two segments, Managed Care and Specialty Services. The Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term care, foster care, and dual eligible individual, as well as aged, blind, or disabled programs.
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