Centene (NYSE:CNC) Given New $67.50 Price Target at Credit Suisse Group

Centene (NYSE:CNC) had its price target lowered by Credit Suisse Group from $72.50 to $67.50 in a research report sent to investors on Wednesday, AR Network reports. Credit Suisse Group currently has a neutral rating on the stock.

A number of other research firms have also commented on CNC. Stephens lowered Centene from an overweight rating to an equal weight rating in a research report on Tuesday, September 22nd. Barclays increased their price target on Centene from $72.00 to $84.00 and gave the company an overweight rating in a research report on Tuesday, September 22nd. Deutsche Bank Aktiengesellschaft lowered their price target on Centene from $87.00 to $83.00 and set a buy rating for the company in a research report on Wednesday. ValuEngine lowered Centene from a sell rating to a strong sell rating in a research report on Thursday, July 2nd. Finally, Jefferies Financial Group decreased their target price on Centene from $85.00 to $83.00 and set a buy rating for the company in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, sixteen 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 an average target price of $82.61.

Shares of CNC opened at $61.16 on Wednesday. Centene has a 12-month low of $43.96 and a 12-month high of $74.70. The business’s fifty day moving average is $61.18 and its 200 day moving average is $63.98. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.66. The stock has a market cap of $35.44 billion, a P/E ratio of 21.46, a P/E/G ratio of 0.98 and a beta of 0.59.

Centene (NYSE:CNC) last released its quarterly earnings results on Saturday, October 31st. The company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.30. The business had revenue of $29.09 billion during the quarter, compared to analyst estimates of $28.30 billion. Centene had a return on equity of 14.07% and a net margin of 1.70%. Centene’s quarterly revenue was up 53.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.96 EPS. On average, analysts expect that Centene will post 4.88 EPS for the current year.

In other Centene news, EVP Kenneth A. Burdick sold 35,000 shares of the firm’s stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $62.00, for a total value of $2,170,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Tommy G. Thompson sold 1,500 shares of the firm’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $58.36, for a total value of $87,540.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,500 shares of company stock valued at $4,474,090. 1.90% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Advisor Group Holdings Inc. bought a new stake in shares of Centene during the 1st quarter valued at about $2,211,000. Clarius Group LLC boosted its position in shares of Centene by 7.3% during the 2nd quarter. Clarius Group LLC now owns 3,847 shares of the company’s stock valued at $244,000 after acquiring an additional 263 shares during the last quarter. State Street Corp boosted its position in shares of Centene by 45.2% during the 1st quarter. State Street Corp now owns 24,458,142 shares of the company’s stock valued at $1,453,058,000 after acquiring an additional 7,617,774 shares during the last quarter. Natixis Advisors L.P. boosted its position in shares of Centene by 3.3% during the 2nd quarter. Natixis Advisors L.P. now owns 152,266 shares of the company’s stock valued at $9,676,000 after acquiring an additional 4,852 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its position in shares of Centene by 3.5% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 40,022 shares of the company’s stock valued at $2,543,000 after acquiring an additional 1,368 shares during the last quarter. Hedge funds and other institutional investors own 92.60% of the company’s stock.

About Centene

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. The company's Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term services and support, foster care, and medicare-medicaid plans, which covers dually eligible individuals, as well as aged, blind, or disabled programs.

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Analyst Recommendations for Centene (NYSE:CNC)

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