Centene (CNC) Rating Reiterated by Leerink Swann
Leerink Swann reissued their market perform rating on shares of Centene (NYSE:CNC) in a research note published on Tuesday. The firm currently has a $90.00 price target on the stock, down from their previous price target of $100.00. Leerink Swann also issued estimates for Centene’s Q1 2018 earnings at $1.90 EPS, Q2 2018 earnings at $1.80 EPS, Q3 2018 earnings at $1.90 EPS and Q4 2018 earnings at $1.40 EPS.
A number of other analysts have also recently commented on the company. Credit Suisse Group upped their price target on Centene from $110.00 to $112.00 and gave the stock a neutral rating in a research report on Wednesday, February 7th. Cantor Fitzgerald upped their price target on Centene from $115.00 to $125.00 and gave the stock an overweight rating in a research report on Wednesday, February 7th. Morgan Stanley upped their price target on Centene from $118.00 to $126.00 and gave the stock an overweight rating in a research report on Wednesday, February 7th. Citigroup restated an outperform rating and issued a $130.00 price target (up previously from $122.00) on shares of Centene in a research report on Wednesday, February 7th. Finally, ValuEngine upgraded Centene from a hold rating to a buy rating in a research report on Friday, February 2nd. Three research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Centene currently has a consensus rating of Buy and an average price target of $110.28.
Shares of Centene (CNC) opened at $103.00 on Tuesday. The company has a current ratio of 0.93, a quick ratio of 0.99 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $17,879.62, a price-to-earnings ratio of 21.96, a P/E/G ratio of 0.97 and a beta of 0.71. Centene has a 1 year low of $65.03 and a 1 year high of $112.42.
In other news, EVP Keith H. Williamson sold 5,000 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $100.11, for a total value of $500,550.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jesse N. Hunter sold 10,000 shares of the company’s stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $98.73, for a total value of $987,300.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,500 shares of company stock valued at $3,311,613. Corporate insiders own 3.00% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Focused Wealth Management Inc boosted its stake in Centene by 900.0% during the fourth quarter. Focused Wealth Management Inc now owns 1,000 shares of the company’s stock valued at $101,000 after buying an additional 900 shares during the last quarter. Financial Gravity Companies Inc. bought a new position in Centene during the fourth quarter valued at approximately $112,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Centene during the fourth quarter valued at approximately $131,000. Tower Research Capital LLC TRC bought a new position in Centene during the fourth quarter valued at approximately $145,000. Finally, Advisors Preferred LLC bought a new position in Centene during the fourth quarter valued at approximately $159,000. 92.03% of the stock is owned by institutional investors.
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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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