Centene (CNC) Earns Overweight Rating from Analysts at Stephens

Equities research analysts at Stephens assumed coverage on shares of Centene (NYSE:CNC) in a research report issued to clients and investors on Monday, The Fly reports. The firm set an “overweight” rating on the stock.

Other analysts have also recently issued research reports about the company. Goldman Sachs Group cut Centene from a “conviction-buy” rating to a “buy” rating in a research report on Monday, December 17th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $145.00 target price on shares of Centene in a research report on Thursday, December 13th. Zacks Investment Research raised Centene from a “hold” rating to a “buy” rating and set a $122.00 target price on the stock in a research report on Monday, December 31st. ValuEngine cut Centene from a “buy” rating to a “hold” rating in a research report on Monday, December 17th. Finally, Leerink Swann raised Centene from a “market perform” rating to an “outperform” rating and set a $159.68 target price on the stock in a research report on Wednesday, October 24th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Centene has a consensus rating of “Buy” and a consensus price target of $155.55.

Shares of NYSE CNC opened at $119.98 on Monday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.59. The firm has a market cap of $24.28 billion, a price-to-earnings ratio of 23.85, a P/E/G ratio of 0.98 and a beta of 1.27. Centene has a 12-month low of $97.61 and a 12-month high of $148.98.

Centene (NYSE:CNC) last announced its earnings results on Tuesday, October 23rd. The company reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.02. The business had revenue of $16.18 billion for the quarter, compared to analysts’ expectations of $15.93 billion. Centene had a return on equity of 14.42% and a net margin of 1.58%. The business’s revenue for the quarter was up 36.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.35 EPS. As a group, equities research analysts expect that Centene will post 7.04 EPS for the current year.

In other news, Director Robert K. Ditmore sold 15,000 shares of the firm’s stock in a transaction on Thursday, October 25th. The stock was sold at an average price of $129.24, for a total value of $1,938,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark J. Brooks sold 2,540 shares of the firm’s stock in a transaction on Tuesday, December 18th. The stock was sold at an average price of $121.26, for a total value of $308,000.40. The disclosure for this sale can be found here. 3.00% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. Neville Rodie & Shaw Inc. raised its stake in Centene by 5.3% in the 4th quarter. Neville Rodie & Shaw Inc. now owns 2,000 shares of the company’s stock worth $231,000 after acquiring an additional 100 shares during the last quarter. Kepos Capital LP raised its stake in Centene by 0.3% in the 3rd quarter. Kepos Capital LP now owns 50,231 shares of the company’s stock worth $7,272,000 after acquiring an additional 136 shares during the last quarter. CENTRAL TRUST Co raised its stake in Centene by 5.9% in the 4th quarter. CENTRAL TRUST Co now owns 3,838 shares of the company’s stock worth $443,000 after acquiring an additional 215 shares during the last quarter. B & T Capital Management DBA Alpha Capital Management raised its stake in Centene by 3.4% in the 3rd quarter. B & T Capital Management DBA Alpha Capital Management now owns 11,766 shares of the company’s stock worth $1,703,000 after acquiring an additional 390 shares during the last quarter. Finally, State Treasurer State of Michigan raised its stake in Centene by 0.7% in the 3rd quarter. State Treasurer State of Michigan now owns 61,124 shares of the company’s stock worth $8,850,000 after acquiring an additional 400 shares during the last quarter. 88.64% of the stock is owned by hedge funds and other institutional investors.

Centene Company Profile

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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Analyst Recommendations for Centene (NYSE:CNC)

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