Centene (CNC) Stock Rating Lowered by ValuEngine

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ValuEngine lowered shares of Centene (NYSE:CNC) from a sell rating to a strong sell rating in a report published on Thursday, ValuEngine reports.

Several other equities research analysts also recently commented on the stock. Cowen initiated coverage on shares of Centene in a report on Thursday, February 28th. They set an outperform rating and a $77.00 price objective on the stock. Morgan Stanley lowered their price target on shares of Centene from $83.00 to $75.00 and set an overweight rating on the stock in a report on Wednesday, April 24th. Oppenheimer lowered their price target on shares of Centene from $165.00 to $83.00 and set an outperform rating on the stock in a report on Wednesday, February 6th. Stephens started coverage on shares of Centene in a report on Monday, January 14th. They issued an overweight rating and a $73.50 price target on the stock. Finally, Jefferies Financial Group reissued a buy rating and issued a $76.00 price target on shares of Centene in a report on Thursday, February 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the stock. Centene has a consensus rating of Buy and an average price target of $76.35.

CNC traded up $0.97 during trading on Thursday, hitting $52.59. 9,996,277 shares of the company traded hands, compared to its average volume of 5,627,015. The firm has a market cap of $21.30 billion, a P/E ratio of 14.86, a PEG ratio of 0.87 and a beta of 1.22. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.04. Centene has a one year low of $45.44 and a one year high of $74.49.

Centene (NYSE:CNC) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.07. The company had revenue of $18.44 billion during the quarter, compared to analyst estimates of $17.44 billion. Centene had a net margin of 1.66% and a return on equity of 14.60%. The firm’s revenue for the quarter was up 39.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.17 earnings per share. Equities research analysts predict that Centene will post 4.36 earnings per share for the current fiscal year.

In other Centene news, EVP Christopher D. Bowers sold 9,200 shares of the stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $65.01, for a total transaction of $598,092.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. grew its position in Centene by 7.8% during the fourth quarter. BlackRock Inc. now owns 18,126,716 shares of the company’s stock valued at $2,090,011,000 after acquiring an additional 1,308,641 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in Centene by 15,334.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,787,010 shares of the company’s stock valued at $85,000 after acquiring an additional 9,723,601 shares during the last quarter. Janus Henderson Group PLC grew its position in Centene by 114.3% during the first quarter. Janus Henderson Group PLC now owns 4,657,134 shares of the company’s stock valued at $247,296,000 after acquiring an additional 2,484,279 shares during the last quarter. Geode Capital Management LLC grew its position in Centene by 6.5% during the fourth quarter. Geode Capital Management LLC now owns 2,883,859 shares of the company’s stock valued at $331,969,000 after acquiring an additional 176,124 shares during the last quarter. Finally, FMR LLC grew its position in Centene by 2.0% during the fourth quarter. FMR LLC now owns 2,467,656 shares of the company’s stock valued at $284,522,000 after acquiring an additional 48,517 shares during the last quarter. Institutional investors and hedge funds own 46.18% 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.

See Also: Earnings Per Share

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Analyst Recommendations for Centene (NYSE:CNC)

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