Centene Corporation (CNC) Stock Rating Reaffirmed by UBS AG
UBS AG reaffirmed their buy rating on shares of Centene Corporation (NYSE:CNC) in a research note issued to investors on Wednesday, www.benzinga.com reports. The brokerage currently has a $95.00 price objective on the stock, up from their previous price objective of $88.00.
A number of other analysts also recently issued reports on CNC. Deutsche Bank AG initiated coverage on Centene Corporation in a research note on Wednesday, April 5th. They issued a buy rating and a $84.00 price objective on the stock. Jefferies Group LLC reaffirmed a buy rating and issued a $79.00 price objective on shares of Centene Corporation in a research note on Wednesday, April 19th. Cantor Fitzgerald reaffirmed a buy rating and issued 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 lifted their price objective on 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 lifted their price objective on Centene Corporation from $80.00 to $83.00 and gave the stock an outperform rating in a research note on Wednesday, April 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Centene Corporation currently has an average rating of Buy and an average price target of $86.82.
Shares of Centene Corporation (NYSE:CNC) traded up 1.87% during mid-day trading on Wednesday, reaching $82.69. The company’s stock had a trading volume of 1,214,917 shares. The stock has a market capitalization of $14.26 billion, a P/E ratio of 18.15 and a beta of 0.68. Centene Corporation has a 12-month low of $50.00 and a 12-month high of $87.94. The company’s 50-day moving average price is $81.36 and its 200-day moving average price is $73.20.
Centene Corporation (NYSE:CNC) last released its quarterly earnings data on Tuesday, July 25th. The company reported $1.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.29. Centene Corporation had a return on equity of 14.62% and a net margin of 1.72%. The business had revenue of $11.95 billion for the quarter, compared to the consensus estimate of $11.69 billion. During the same quarter in the previous year, the company posted $1.29 EPS. The company’s revenue was up 9.7% compared to the same quarter last year. On average, equities research analysts forecast that Centene Corporation will post $4.87 earnings per share for the current fiscal year.
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In other Centene Corporation news, SVP Mark J. Brooks sold 2,161 shares of the company’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $75.43, for a total value of $163,004.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert K. Ditmore sold 4,167 shares of the company’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $82.59, for a total value of $344,152.53. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,578 shares of company stock valued at $4,319,037. 3.00% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the company. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Centene Corporation by 5.9% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,662 shares of the company’s stock valued at $118,000 after buying an additional 93 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in shares of Centene Corporation by 5.6% in the first quarter. Quadrant Capital Group LLC now owns 2,263 shares of the company’s stock valued at $155,000 after buying an additional 120 shares in the last quarter. Creative Planning boosted its stake in shares of Centene Corporation by 5.4% in the first quarter. Creative Planning now owns 2,476 shares of the company’s stock valued at $176,000 after buying an additional 127 shares in the last quarter. Howard Hughes Medical Institute boosted its stake in shares of Centene Corporation by 96.7% in the first quarter. Howard Hughes Medical Institute now owns 2,685 shares of the company’s stock valued at $191,000 after buying an additional 1,320 shares in the last quarter. Finally, Reliance Trust Co. of Delaware purchased a new stake in shares of Centene Corporation during the first quarter valued at $201,000. Institutional investors and hedge funds own 93.51% of the company’s stock.
About Centene Corporation
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.
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