Centene (NYSE:CNC) Earns Overweight Rating from Analysts at Barclays

Barclays began coverage on shares of Centene (NYSE:CNCFree Report) in a research report report published on Wednesday, MarketBeat reports. The brokerage issued an overweight rating and a $101.00 price objective on the stock.

A number of other analysts also recently weighed in on CNC. UBS Group increased their price target on Centene from $72.00 to $79.00 and gave the stock a neutral rating in a report on Thursday, December 21st. Wells Fargo & Company upgraded Centene from an equal weight rating to an overweight rating and increased their price target for the stock from $82.00 to $90.00 in a report on Tuesday, January 2nd. Cantor Fitzgerald raised their target price on Centene from $82.00 to $90.00 and gave the company an overweight rating in a research note on Friday, December 15th. Finally, Truist Financial boosted their target price on Centene from $83.00 to $86.00 and gave the company a buy rating in a research report on Thursday, December 21st. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $85.15.

Read Our Latest Research Report on Centene

Centene Stock Down 1.9 %

Shares of NYSE:CNC opened at $78.14 on Wednesday. The firm has a market cap of $41.79 billion, a P/E ratio of 15.91, a P/E/G ratio of 0.96 and a beta of 0.38. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.68. Centene has a 12-month low of $60.83 and a 12-month high of $81.42. The business has a fifty day simple moving average of $77.19 and a 200 day simple moving average of $72.69.

Centene (NYSE:CNCGet Free Report) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. Centene had a return on equity of 14.26% and a net margin of 1.75%. The firm had revenue of $39.46 billion during the quarter, compared to the consensus estimate of $36.16 billion. During the same period last year, the business posted $0.86 EPS. The business’s revenue was up 11.0% compared to the same quarter last year. Analysts predict that Centene will post 6.75 earnings per share for the current year.

Insiders Place Their Bets

In other Centene news, Director Lori Jean Robinson sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $77.41, for a total transaction of $774,100.00. Following the completion of the sale, the director now directly owns 11,455 shares of the company’s stock, valued at approximately $886,731.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, President Kenneth J. Fasola sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $75.07, for a total value of $900,840.00. Following the transaction, the president now owns 235,365 shares in the company, valued at approximately $17,668,850.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Lori Jean Robinson sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $77.41, for a total value of $774,100.00. Following the completion of the transaction, the director now owns 11,455 shares in the company, valued at approximately $886,731.55. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Centene

A number of hedge funds and other institutional investors have recently modified their holdings of CNC. Cibc World Market Inc. boosted its stake in shares of Centene by 1,401.4% in the 1st quarter. Cibc World Market Inc. now owns 46,333 shares of the company’s stock worth $3,901,000 after buying an additional 43,247 shares during the last quarter. Vontobel Holding Ltd. lifted its stake in Centene by 7.2% in the first quarter. Vontobel Holding Ltd. now owns 9,734 shares of the company’s stock valued at $841,000 after purchasing an additional 657 shares during the last quarter. Blair William & Co. IL lifted its stake in Centene by 104.7% in the first quarter. Blair William & Co. IL now owns 43,760 shares of the company’s stock valued at $3,684,000 after purchasing an additional 22,382 shares during the last quarter. Brighton Jones LLC purchased a new position in Centene in the first quarter valued at approximately $203,000. Finally, Candriam Luxembourg S.C.A. lifted its stake in Centene by 10.0% in the first quarter. Candriam Luxembourg S.C.A. now owns 37,404 shares of the company’s stock valued at $3,149,000 after purchasing an additional 3,414 shares during the last quarter. Hedge funds and other institutional investors own 90.92% of the company’s stock.

Centene Company Profile

(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. It operates in 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 services and support, foster care, and medicare-medicaid plans, which cover dually eligible individuals, as well as aged, blind, or disabled programs.

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Analyst Recommendations for Centene (NYSE:CNC)

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