Centene Co. (NYSE:CNC – Get Rating) – Stock analysts at Oppenheimer issued their FY2025 EPS estimates for shares of Centene in a research note issued on Thursday, January 19th. Oppenheimer analyst M. Wiederhorn expects that the company will earn $8.15 per share for the year. The consensus estimate for Centene’s current full-year earnings is $5.72 per share.
CNC has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft cut their target price on shares of Centene from $99.00 to $94.00 in a research report on Wednesday, October 26th. Argus upped their price target on Centene from $95.00 to $99.00 in a research note on Wednesday, December 14th. Credit Suisse Group upped their price target on Centene from $104.00 to $106.00 and gave the company an “outperform” rating in a research note on Monday, December 19th. Barclays lowered their price target on Centene from $107.00 to $100.00 and set an “overweight” rating for the company in a research note on Monday, October 3rd. Finally, JPMorgan Chase & Co. lowered their price target on Centene from $103.00 to $98.00 and set an “overweight” rating for the company in a research note on Friday, January 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $101.35.
Centene Stock Performance
Centene (NYSE:CNC – Get Rating) last issued its quarterly earnings results on Tuesday, October 25th. The company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.08. The business had revenue of $35.84 billion for the quarter, compared to the consensus estimate of $35.45 billion. Centene had a net margin of 1.42% and a return on equity of 13.08%. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.26 EPS.
Centene declared that its board has authorized a stock repurchase program on Friday, December 16th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 4.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
Institutional Trading of Centene
Large investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its position in Centene by 2.8% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 31,270,675 shares of the company’s stock worth $2,433,266,000 after acquiring an additional 855,690 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Centene by 12.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 29,944,019 shares of the company’s stock worth $2,533,562,000 after acquiring an additional 3,223,590 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Centene by 130.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 4,300,967 shares of the company’s stock valued at $363,905,000 after buying an additional 2,438,316 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Centene by 0.8% in the 2nd quarter. Legal & General Group Plc now owns 3,979,079 shares of the company’s stock valued at $336,672,000 after buying an additional 32,165 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in shares of Centene by 5.7% in the 3rd quarter. Alliancebernstein L.P. now owns 3,399,163 shares of the company’s stock valued at $264,489,000 after buying an additional 183,164 shares during the last quarter. 93.28% of the stock is owned by institutional investors.
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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