Mitsubishi UFJ Financial Group assumed coverage on shares of Centene (NYSE:CNC) in a report published on Wednesday, September 19th. The firm issued an overweight rating and a $170.00 price target on the stock.
CNC has been the subject of several other research reports. Credit Suisse Group increased their target price on Centene from $134.00 to $152.00 and gave the company a neutral rating in a research note on Tuesday, September 4th. Morgan Stanley increased their target price on Centene from $127.00 to $136.00 and gave the company an overweight rating in a research note on Friday, July 13th. Oppenheimer increased their target price on Centene from $130.00 to $138.00 in a research note on Monday, June 18th. Wells Fargo & Co increased their target price on Centene from $126.00 to $142.00 and gave the company an outperform rating in a research note on Monday, June 18th. Finally, Citigroup restated a neutral rating and set a $147.00 target price on shares of Centene in a research note on Wednesday, July 18th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Centene presently has an average rating of Buy and a consensus target price of $147.76.
Shares of CNC traded up $1.89 during trading hours on Wednesday, hitting $140.82. 1,209,040 shares of the company were exchanged, compared to its average volume of 1,471,538. The company has a market cap of $29.72 billion, a PE ratio of 28.00, a price-to-earnings-growth ratio of 1.40 and a beta of 0.82. Centene has a 52 week low of $83.56 and a 52 week high of $148.24. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.26 and a current ratio of 1.25.
Centene (NYSE:CNC) last released its quarterly earnings results on Tuesday, July 24th. The company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.03. The company had revenue of $14.18 billion during the quarter, compared to the consensus estimate of $13.82 billion. Centene had a return on equity of 14.57% and a net margin of 2.06%. The firm’s revenue was up 18.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.59 EPS. On average, research analysts predict that Centene will post 7.08 earnings per share for the current year.
In other Centene news, EVP Keith H. Williamson sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, September 28th. The stock was sold at an average price of $145.00, for a total value of $290,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert K. Ditmore sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $145.06, for a total value of $2,175,900.00. The disclosure for this sale can be found here. Insiders sold a total of 32,550 shares of company stock valued at $4,564,790 in the last quarter. Corporate insiders own 3.00% of the company’s stock.
Several hedge funds have recently made changes to their positions in CNC. Martingale Asset Management L P raised its holdings in shares of Centene by 5.7% in the 2nd quarter. Martingale Asset Management L P now owns 7,313 shares of the company’s stock worth $902,000 after buying an additional 397 shares in the last quarter. LS Investment Advisors LLC raised its holdings in shares of Centene by 5.0% in the 2nd quarter. LS Investment Advisors LLC now owns 8,819 shares of the company’s stock worth $1,087,000 after buying an additional 416 shares in the last quarter. Green Square Capital LLC raised its holdings in shares of Centene by 9.2% in the 1st quarter. Green Square Capital LLC now owns 6,140 shares of the company’s stock worth $656,000 after buying an additional 516 shares in the last quarter. Atria Investments LLC raised its holdings in shares of Centene by 10.1% in the 3rd quarter. Atria Investments LLC now owns 5,840 shares of the company’s stock worth $846,000 after buying an additional 536 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Centene by 16.8% in the 2nd quarter. American Century Companies Inc. now owns 3,819 shares of the company’s stock worth $471,000 after buying an additional 550 shares in the last quarter. Institutional investors own 90.08% of the company’s stock.
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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