Centene Corp (NYSE:CNC) – Stock analysts at Piper Sandler upped their Q4 2020 EPS estimates for Centene in a research report issued to clients and investors on Wednesday, July 8th. Piper Sandler analyst S. James now anticipates that the company will earn $0.70 per share for the quarter, up from their previous forecast of $0.66.

Centene (NYSE:CNC) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.13). Centene had a return on equity of 11.47% and a net margin of 1.03%. The company had revenue of $26.03 billion for the quarter, compared to the consensus estimate of $23.96 billion. During the same quarter in the previous year, the business earned $1.39 earnings per share. Centene’s revenue was up 41.1% compared to the same quarter last year.

CNC has been the subject of a number of other research reports. Deutsche Bank lowered their target price on Centene from $82.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. SunTrust Banks boosted their price target on Centene from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, April 13th. Morgan Stanley boosted their price target on Centene from $85.00 to $89.00 and gave the stock an “overweight” rating in a research note on Monday, April 13th. ValuEngine cut Centene from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 2nd. Finally, Citigroup boosted their price target on Centene from $70.00 to $81.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Centene presently has an average rating of “Buy” and a consensus target price of $82.50.

Shares of CNC stock opened at $63.53 on Monday. The firm has a market cap of $36.39 billion, a P/E ratio of 32.09, a P/E/G ratio of 0.87 and a beta of 0.73. Centene has a fifty-two week low of $41.62 and a fifty-two week high of $74.70. The business’s 50 day moving average price is $64.27 and its 200-day moving average price is $63.14. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.14 and a current ratio of 1.14.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its holdings in shares of Centene by 41.8% in the first quarter. BlackRock Inc. now owns 44,354,139 shares of the company’s stock valued at $2,635,080,000 after buying an additional 13,078,726 shares during the last quarter. Capital World Investors raised its holdings in shares of Centene by 8.4% in the first quarter. Capital World Investors now owns 39,175,475 shares of the company’s stock valued at $2,327,415,000 after buying an additional 3,024,663 shares during the last quarter. State Street Corp raised its holdings in Centene by 45.2% during the first quarter. State Street Corp now owns 24,458,142 shares of the company’s stock worth $1,453,058,000 after purchasing an additional 7,617,774 shares in the last quarter. Wellington Management Group LLP raised its holdings in Centene by 45.3% during the first quarter. Wellington Management Group LLP now owns 18,929,221 shares of the company’s stock worth $1,124,586,000 after purchasing an additional 5,898,593 shares in the last quarter. Finally, Viking Global Investors LP raised its holdings in Centene by 48.8% during the first quarter. Viking Global Investors LP now owns 16,230,552 shares of the company’s stock worth $964,257,000 after purchasing an additional 5,323,440 shares in the last quarter. Institutional investors own 93.58% of the company’s stock.

In other Centene news, Director Orlando Ayala sold 30,000 shares of the company’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $63.87, for a total value of $1,916,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Tommy G. Thompson sold 1,500 shares of the company’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $64.13, for a total transaction of $96,195.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 212,983 shares of company stock valued at $14,041,261. Insiders own 1.90% of the company’s stock.

Centene Company Profile

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. The company's 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 covers dually eligible individuals, as well as aged, blind, or disabled programs.

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Earnings History and Estimates for Centene (NYSE:CNC)

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