Centene (NYSE:CNC) Earns Neutral Rating from Analysts at Robert W. Baird

Equities research analysts at Robert W. Baird began coverage on shares of Centene (NYSE:CNCGet Free Report) in a research note issued on Thursday, MarketBeat.com reports. The firm set a “neutral” rating and a $83.00 price target on the stock. Robert W. Baird’s price target would indicate a potential upside of 17.76% from the company’s previous close.

Several other research firms have also commented on CNC. StockNews.com upgraded shares of Centene from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 29th. Wells Fargo & Company boosted their price target on Centene from $89.00 to $93.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Oppenheimer reiterated an “outperform” rating and set a $110.00 price objective on shares of Centene in a research report on Monday, April 29th. Stephens reiterated an “equal weight” rating and set a $85.00 price target (down from $92.00) on shares of Centene in a report on Thursday, March 21st. Finally, Barclays raised their target price on shares of Centene from $101.00 to $104.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Centene presently has an average rating of “Moderate Buy” and an average target price of $85.07.

Check Out Our Latest Research Report on CNC

Centene Trading Down 3.1 %

Shares of Centene stock opened at $70.48 on Thursday. The company has a 50-day moving average of $75.15 and a two-hundred day moving average of $75.66. The stock has a market cap of $37.61 billion, a PE ratio of 14.01, a price-to-earnings-growth ratio of 0.94 and a beta of 0.41. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.66. Centene has a 12-month low of $60.83 and a 12-month high of $81.42.

Centene (NYSE:CNCGet Free Report) last issued its quarterly earnings data on Friday, April 26th. The company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.17. Centene had a return on equity of 14.19% and a net margin of 1.76%. The firm had revenue of $40.41 billion during the quarter, compared to analysts’ expectations of $36.43 billion. During the same period in the previous year, the firm posted $2.11 earnings per share. Centene’s revenue was up 3.9% on a year-over-year basis. On average, research analysts anticipate that Centene will post 6.82 EPS for the current fiscal year.

Insider Activity at Centene

In other news, Director Christopher J. Coughlin sold 878 shares of the stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $76.75, for a total value of $67,386.50. Following the completion of the sale, the director now owns 25,504 shares in the company, valued at $1,957,432. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Christopher J. Coughlin sold 878 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $76.75, for a total transaction of $67,386.50. Following the completion of the sale, the director now directly owns 25,504 shares of the company’s stock, valued at approximately $1,957,432. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Kenneth J. Fasola sold 8,000 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $77.62, for a total transaction of $620,960.00. Following the completion of the transaction, the president now directly owns 300,357 shares of the company’s stock, valued at $23,313,710.34. The disclosure for this sale can be found here. 0.33% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in Centene in the fourth quarter worth about $1,325,441,000. Swedbank AB acquired a new position in Centene in the first quarter worth $914,080,000. Harris Associates L P increased its stake in Centene by 172.8% during the fourth quarter. Harris Associates L P now owns 10,863,367 shares of the company’s stock valued at $806,170,000 after purchasing an additional 6,881,450 shares during the last quarter. Capital International Investors lifted its position in shares of Centene by 60.2% in the 1st quarter. Capital International Investors now owns 5,216,486 shares of the company’s stock worth $409,390,000 after buying an additional 1,959,460 shares during the last quarter. Finally, Jennison Associates LLC boosted its holdings in shares of Centene by 535.9% in the 4th quarter. Jennison Associates LLC now owns 1,837,980 shares of the company’s stock valued at $136,396,000 after buying an additional 1,548,961 shares during the period. 93.63% of the stock is currently owned by institutional investors.

About Centene

(Get Free Report)

Centene Corporation operates as a healthcare enterprise that provides programs and services to under-insured and uninsured families, commercial organizations, and military families in the United States. The company operates through Medicaid, Medicare, Commercial, and Other segments. The Medicaid segment offers health plan coverage, including medicaid expansion, aged, blind, disabled, children's health insurance program, foster care, medicare-medicaid plans, long-term services and support.

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Analyst Recommendations for Centene (NYSE:CNC)

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