Centene Corp (NYSE:CNC)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $54.09, but opened at $52.12. Centene shares last traded at $52.25, with a volume of 190863 shares changing hands.
A number of brokerages have recently issued reports on CNC. Credit Suisse Group dropped their price objective on shares of Centene from $76.00 to $63.00 and set a “neutral” rating for the company in a research note on Friday. Argus cut shares of Centene to a “hold” rating in a research note on Friday. ValuEngine cut shares of Centene from a “hold” rating to a “sell” rating in a research note on Wednesday. Cowen assumed coverage on shares of Centene in a research note on Thursday, February 28th. They issued an “outperform” rating and a $77.00 price objective for the company. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and issued a $83.00 target price on shares of Centene in a report on Wednesday, February 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. Centene has a consensus rating of “Buy” and a consensus target price of $76.87.
The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market capitalization of $21.82 billion, a price-to-earnings ratio of 15.00, a PEG ratio of 0.93 and a beta of 1.29.
Centene (NYSE:CNC) last issued its quarterly earnings data on Tuesday, February 5th. The company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.05. Centene had a net margin of 1.50% and a return on equity of 14.10%. The firm had revenue of $16.56 billion for the quarter, compared to analyst estimates of $16.38 billion. During the same quarter in the prior year, the firm earned $0.49 EPS. The company’s revenue was up 29.3% on a year-over-year basis. Equities analysts predict that Centene Corp will post 4.23 earnings per share for the current year.
In other Centene news, EVP Christopher D. Bowers sold 9,200 shares of the stock in a transaction dated 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 document filed with the SEC, which is accessible through this link. Also, CFO Jeffrey A. Schwaneke sold 4,000 shares of the stock in a transaction dated Tuesday, January 15th. The stock was sold at an average price of $125.00, for a total transaction of $500,000.00. The disclosure for this sale can be found here. 2.50% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the business. Lindbrook Capital LLC acquired a new position in Centene during the 4th quarter valued at about $31,000. Bessemer Group Inc. lifted its position in Centene by 140.7% during the 4th quarter. Bessemer Group Inc. now owns 349 shares of the company’s stock valued at $41,000 after purchasing an additional 204 shares during the period. Prime Capital Investment Advisors LLC acquired a new position in Centene during the 4th quarter valued at about $47,000. Exane Asset Management lifted its position in Centene by 40.7% during the 4th quarter. Exane Asset Management now owns 678 shares of the company’s stock valued at $78,000 after purchasing an additional 196 shares during the period. Finally, Flagship Harbor Advisors LLC lifted its position in Centene by 39.5% during the 4th quarter. Flagship Harbor Advisors LLC now owns 706 shares of the company’s stock valued at $81,000 after purchasing an additional 200 shares during the period. 45.51% of the stock is currently owned by hedge funds and other institutional investors.
About Centene (NYSE:CNC)
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.