Centene Co. (NYSE:CNC) Receives Consensus Rating of “Buy” from Analysts

Shares of Centene Co. (NYSE:CNCGet Rating) have earned an average recommendation of “Buy” from the twenty-two research firms that are currently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $91.61.

CNC has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft increased their price target on Centene from $84.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, February 9th. Sanford C. Bernstein raised their price objective on Centene from $94.00 to $108.00 in a research report on Tuesday, January 11th. Mizuho raised their price objective on Centene from $78.00 to $84.00 and gave the company a “neutral” rating in a research report on Wednesday, February 9th. Finally, StockNews.com started coverage on Centene in a research report on Thursday, March 31st. They issued a “strong-buy” rating for the company.

Shares of NYSE CNC opened at $84.03 on Monday. The stock has a 50 day moving average price of $84.92 and a 200 day moving average price of $80.47. Centene has a 52 week low of $59.67 and a 52 week high of $89.92. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market capitalization of $49.15 billion, a PE ratio of 33.35, a price-to-earnings-growth ratio of 1.10 and a beta of 0.52.

Centene (NYSE:CNCGet Rating) last issued its quarterly earnings results on Tuesday, April 26th. The company reported $1.83 EPS for the quarter, beating the consensus estimate of $1.68 by $0.15. Centene had a return on equity of 11.82% and a net margin of 1.12%. The firm had revenue of $37.19 billion during the quarter, compared to analysts’ expectations of $34.48 billion. During the same period in the prior year, the firm posted $1.63 earnings per share. The business’s quarterly revenue was up 24.0% compared to the same quarter last year. As a group, research analysts forecast that Centene will post 5.46 EPS for the current year.

In other news, EVP Shannon Bagley sold 8,000 shares of Centene stock in a transaction on Friday, April 29th. The stock was sold at an average price of $80.99, for a total value of $647,920.00. Following the transaction, the executive vice president now owns 128,353 shares in the company, valued at approximately $10,395,309.47. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Mark J. Brooks sold 3,690 shares of Centene stock in a transaction on Thursday, March 24th. The shares were sold at an average price of $82.71, for a total value of $305,199.90. The disclosure for this sale can be found here. 1.50% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Great Lakes Advisors LLC boosted its holdings in shares of Centene by 17.4% during the 1st quarter. Great Lakes Advisors LLC now owns 7,291 shares of the company’s stock valued at $614,000 after acquiring an additional 1,078 shares in the last quarter. Los Angeles Capital Management LLC boosted its holdings in shares of Centene by 78.4% during the 1st quarter. Los Angeles Capital Management LLC now owns 5,535 shares of the company’s stock valued at $466,000 after acquiring an additional 2,432 shares in the last quarter. Balentine LLC boosted its holdings in shares of Centene by 185.7% during the 1st quarter. Balentine LLC now owns 22,754 shares of the company’s stock valued at $1,916,000 after acquiring an additional 14,791 shares in the last quarter. SouthState Corp boosted its holdings in shares of Centene by 2.3% during the 1st quarter. SouthState Corp now owns 36,646 shares of the company’s stock valued at $3,086,000 after acquiring an additional 821 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its holdings in shares of Centene by 3.3% during the 1st quarter. Quadrant Capital Group LLC now owns 6,792 shares of the company’s stock valued at $571,000 after acquiring an additional 214 shares in the last quarter. Institutional investors own 92.32% of the company’s stock.

About Centene (Get Rating)

Centene Corporation operates as a multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. Its 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 cover 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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