Centene Corporation (NYSE:CNC) PT Raised to $92.00

Centene Corporation (NYSE:CNC) had its target price lifted by stock analysts at Deutsche Bank AG from $84.00 to $92.00 in a research report issued to clients and investors on Thursday. The brokerage currently has a “buy” rating on the stock. Deutsche Bank AG’s target price would suggest a potential upside of 11.11% from the stock’s current price.

Several other equities research analysts have also weighed in on the stock. Citigroup Inc. lowered shares of Centene Corporation from a “buy” rating to a “neutral” rating and set a $73.00 price objective on the stock. in a research note on Thursday, March 23rd. Jefferies Group LLC reiterated a “buy” rating and set a $79.00 price objective on shares of Centene Corporation in a research note on Wednesday, April 19th. Cantor Fitzgerald reiterated a “buy” rating and set a $88.00 price objective (up previously from $85.00) on shares of Centene Corporation in a research note on Tuesday, April 25th. Stifel Nicolaus increased their price objective on shares of Centene Corporation from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, April 26th. Finally, Evercore ISI increased their price objective on shares of Centene Corporation from $80.00 to $83.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 26th. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $81.74.

Shares of Centene Corporation (NYSE:CNC) opened at 82.80 on Thursday. Centene Corporation has a 52-week low of $50.00 and a 52-week high of $85.79. The stock’s 50 day moving average price is $77.26 and its 200-day moving average price is $69.76. The firm has a market cap of $14.26 billion, a PE ratio of 20.38 and a beta of 0.67.

Centene Corporation (NYSE:CNC) last issued its earnings results on Tuesday, April 25th. The company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.06. The business had revenue of $11.72 billion for the quarter, compared to analyst estimates of $11.44 billion. Centene Corporation had a net margin of 1.57% and a return on equity of 14.19%. The company’s revenue for the quarter was up 68.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.74 EPS. On average, equities research analysts anticipate that Centene Corporation will post $4.76 earnings per share for the current fiscal year.

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In related news, SVP Mark J. Brooks sold 2,161 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $75.43, for a total value of $163,004.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert K. Ditmore sold 4,167 shares of the company’s stock in a transaction that occurred on Thursday, April 27th. The shares were sold at an average price of $72.43, for a total transaction of $301,815.81. The disclosure for this sale can be found here. Insiders have sold 57,728 shares of company stock valued at $4,506,020 over the last 90 days. 3.00% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the stock. Mn Services Vermogensbeheer B.V. increased its stake in shares of Centene Corporation by 515.3% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 27,871 shares of the company’s stock valued at $2,226,000 after buying an additional 23,341 shares during the period. Meeder Asset Management Inc. increased its stake in shares of Centene Corporation by 581.1% in the second quarter. Meeder Asset Management Inc. now owns 29,763 shares of the company’s stock valued at $2,377,000 after buying an additional 25,393 shares during the period. Leavell Investment Management Inc. increased its stake in shares of Centene Corporation by 56.2% in the second quarter. Leavell Investment Management Inc. now owns 31,137 shares of the company’s stock valued at $2,487,000 after buying an additional 11,200 shares during the period. Chevy Chase Trust Holdings Inc. increased its stake in shares of Centene Corporation by 0.4% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 148,883 shares of the company’s stock valued at $11,892,000 after buying an additional 587 shares during the period. Finally, Somerset Trust Co increased its stake in shares of Centene Corporation by 0.5% in the second quarter. Somerset Trust Co now owns 8,102 shares of the company’s stock valued at $647,000 after buying an additional 40 shares during the period. Institutional investors and hedge funds own 93.30% of the company’s stock.

Centene Corporation 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 Corporation (NYSE:CNC)

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