Centene (CNC) PT Raised to $122.00

Centene (NYSE:CNC) had its target price boosted by Oppenheimer from $111.00 to $122.00 in a report published on Wednesday, December 20th. The brokerage currently has an outperform rating on the stock. Oppenheimer also issued estimates for Centene’s Q1 2018 earnings at $1.19 EPS, Q2 2018 earnings at $1.59 EPS, Q3 2018 earnings at $1.50 EPS, Q4 2018 earnings at $1.36 EPS and FY2018 earnings at $5.66 EPS.

CNC has been the topic of several other reports. BidaskClub raised shares of Centene from a hold rating to a buy rating in a research report on Thursday, August 24th. Piper Jaffray Companies reissued a buy rating and issued a $105.00 price objective on shares of Centene in a research report on Friday, September 1st. Cantor Fitzgerald increased their price objective on shares of Centene to $107.00 and gave the company an overweight rating in a research report on Wednesday, September 13th. Cowen reissued an outperform rating and issued a $105.00 price objective (up from $77.00) on shares of Centene in a research report on Wednesday, September 13th. Finally, Leerink Swann reissued a market perform rating and issued a $90.00 price objective (up from $78.00) on shares of Centene in a research report on Wednesday, September 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Buy and a consensus price target of $104.21.

Shares of Centene (CNC) opened at $106.78 on Wednesday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.71. Centene has a 1 year low of $61.15 and a 1 year high of $106.80. The stock has a market cap of $18,430.00, a price-to-earnings ratio of 22.06, a price-to-earnings-growth ratio of 1.32 and a beta of 0.70.

Centene (NYSE:CNC) last posted its quarterly earnings results on Tuesday, October 24th. The company reported $1.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.11. Centene had a net margin of 1.81% and a return on equity of 14.79%. The firm had revenue of $11.90 billion for the quarter, compared to analyst estimates of $11.75 billion. During the same period in the prior year, the firm posted $1.12 earnings per share. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. equities analysts anticipate that Centene will post 4.99 EPS for the current fiscal year.

In other news, EVP Keith H. Williamson sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $100.11, for a total value of $500,550.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Robert K. Ditmore sold 4,167 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $90.42, for a total transaction of $376,780.14. The disclosure for this sale can be found here. Insiders have sold 27,917 shares of company stock worth $2,777,255 over the last quarter. Corporate insiders own 3.00% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. DnB Asset Management AS boosted its stake in shares of Centene by 20.4% in the 4th quarter. DnB Asset Management AS now owns 17,100 shares of the company’s stock valued at $1,725,000 after purchasing an additional 2,900 shares in the last quarter. Atlantic Trust Group LLC acquired a new stake in shares of Centene in the 3rd quarter valued at approximately $1,843,000. Parametric Portfolio Associates LLC boosted its stake in shares of Centene by 5.1% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 601,373 shares of the company’s stock valued at $58,195,000 after purchasing an additional 28,979 shares in the last quarter. Shelton Capital Management acquired a new stake in shares of Centene in the 3rd quarter valued at approximately $928,000. Finally, Optimum Investment Advisors acquired a new stake in shares of Centene in the 3rd quarter valued at approximately $247,000. Institutional investors own 91.84% of the company’s stock.

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Centene 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.

Analyst Recommendations for Centene (NYSE:CNC)

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