Centene Corporation (NYSE:CNC) - Jefferies Group upped their FY2017 earnings estimates for Centene Corporation in a research report issued to clients and investors on Tuesday. Jefferies Group analyst D. Windley now expects that the company will post earnings of $5.00 per share for the year, up from their prior estimate of $4.75. Jefferies Group currently has a “Buy” rating and a $98.00 target price on the stock.
Other equities analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Centene Corporation from a “hold” rating to a “strong-buy” rating and set a $97.00 price objective for the company in a report on Thursday. BidaskClub cut Centene Corporation from a “buy” rating to a “hold” rating in a report on Friday. Morgan Stanley began coverage on Centene Corporation in a report on Tuesday, June 6th. They issued an “overweight” rating and a $86.00 price objective for the company. Citigroup Inc. raised their price objective on Centene Corporation from $80.00 to $89.00 and gave the company a “sell” rating in a report on Wednesday. Finally, ValuEngine cut Centene Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, June 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $86.82.
Shares of Centene Corporation (NYSE CNC) opened at 82.69 on Friday. The company has a market cap of $14.25 billion, a P/E ratio of 20.36 and a beta of 0.68. The firm’s 50-day moving average price is $81.36 and its 200 day moving average price is $73.20. Centene Corporation has a 52 week low of $50.00 and a 52 week high of $86.02.
Centene Corporation (NYSE:CNC) last announced its earnings results on Tuesday, July 25th. The company reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.29. The firm had revenue of $11.95 billion for the quarter, compared to the consensus estimate of $11.69 billion. Centene Corporation had a return on equity of 14.62% and a net margin of 1.72%. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.29 EPS.
Several large investors have recently added to or reduced their stakes in the stock. Bronfman E.L. Rothschild L.P. increased its stake in 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 worth $118,000 after buying an additional 93 shares during the last quarter. Quadrant Capital Group LLC increased its stake in Centene Corporation by 5.6% in the first quarter. Quadrant Capital Group LLC now owns 2,263 shares of the company’s stock worth $155,000 after buying an additional 120 shares during the last quarter. Creative Planning increased its stake in Centene Corporation by 5.4% in the first quarter. Creative Planning now owns 2,476 shares of the company’s stock worth $176,000 after buying an additional 127 shares during the last quarter. Howard Hughes Medical Institute increased its stake in Centene Corporation by 96.7% in the first quarter. Howard Hughes Medical Institute now owns 2,685 shares of the company’s stock worth $191,000 after buying an additional 1,320 shares during the last quarter. Finally, Eagle Global Advisors LLC acquired a new stake in Centene Corporation during the second quarter worth $216,000. Institutional investors own 93.51% of the company’s stock.
In other Centene Corporation news, SVP Mark J. Brooks sold 2,161 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $75.43, for a total transaction of $163,004.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jesse N. Hunter sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $74.40, for a total transaction of $372,000.00. The disclosure for this sale can be found here. Insiders have sold 54,578 shares of company stock valued at $4,319,037 over the last 90 days. Company insiders own 3.00% of the company’s stock.
Centene Corporation Company Profile
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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