Centene Co. (NYSE:CNC) shares hit a new 52-week high and low on Tuesday . The company traded as low as $112.67 and last traded at $112.60, with a volume of 573783 shares changing hands. The stock had previously closed at $109.92.
A number of research analysts recently weighed in on the company. Morgan Stanley lifted their target price on Centene from $118.00 to $126.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. ValuEngine upgraded Centene from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Zacks Investment Research cut Centene from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 10th. Credit Suisse Group boosted their price objective on Centene from $110.00 to $112.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 7th. Finally, Goldman Sachs initiated coverage on Centene in a research note on Wednesday, January 3rd. They set a “buy” rating and a $135.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $110.28.
The company has a debt-to-equity ratio of 0.68, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market capitalization of $19,649.81, a P/E ratio of 22.29, a PEG ratio of 1.07 and a beta of 0.75.
Centene (NYSE:CNC) last released its quarterly earnings results on Tuesday, February 6th. The company reported $0.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.03. Centene had a return on equity of 13.68% and a net margin of 1.71%. The business had revenue of $12.81 billion for the quarter, compared to analysts’ expectations of $12.25 billion. During the same quarter in the previous year, the firm posted $1.19 earnings per share. The company’s revenue was up 7.5% compared to the same quarter last year. research analysts expect that Centene Co. will post 7.2 earnings per share for the current fiscal year.
In related news, Director Robert K. Ditmore sold 8,750 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $104.13, for a total value of $911,137.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Christopher D. Bowers sold 4,800 shares of the business’s stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $102.27, for a total value of $490,896.00. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.
Several large investors have recently added to or reduced their stakes in CNC. Focused Wealth Management Inc increased its holdings in Centene by 900.0% in the fourth quarter. Focused Wealth Management Inc now owns 1,000 shares of the company’s stock valued at $101,000 after buying an additional 900 shares during the last quarter. Financial Gravity Companies Inc. bought a new stake in Centene in the fourth quarter valued at about $112,000. We Are One Seven LLC bought a new stake in Centene in the fourth quarter valued at about $114,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Centene in the fourth quarter valued at about $131,000. Finally, Tower Research Capital LLC TRC bought a new stake in Centene in the fourth quarter valued at about $145,000. Institutional investors and hedge funds own 90.58% of the company’s stock.
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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. 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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