Leerink Swann Weighs in on Centene Corporation’s Q1 2018 Earnings (CNC)
Centene Corporation (NYSE:CNC) – Investment analysts at Leerink Swann issued their Q1 2018 earnings estimates for Centene in a research report issued to clients and investors on Monday. Leerink Swann analyst A. Gupte expects that the company will earn $1.90 per share for the quarter. Leerink Swann currently has a “Market Perform” rating and a $90.00 price objective on the stock. Leerink Swann also issued estimates for Centene’s Q2 2018 earnings at $1.80 EPS, Q3 2018 earnings at $1.90 EPS and Q4 2018 earnings at $1.40 EPS.
CNC has been the topic of a number of other reports. 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. ValuEngine raised Centene from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Goldman Sachs Group started coverage on Centene in a research report on Wednesday, January 3rd. They issued a “buy” rating and a $135.00 target price on the stock. Credit Suisse Group upped their target price on Centene from $110.00 to $112.00 and gave the company a “neutral” rating in a research report on Wednesday, February 7th. Finally, Oppenheimer reissued a “buy” rating and issued a $111.00 target price on shares of Centene in a research report on Friday, December 15th. Three research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $110.28.
Centene (NYSE:CNC) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.03. The business had revenue of $12.81 billion for the quarter, compared to the consensus estimate of $12.25 billion. Centene had a return on equity of 13.68% and a net margin of 1.71%. The business’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.19 earnings per share.
In other Centene news, Director Robert K. Ditmore sold 8,750 shares of the company’s stock in a transaction on Monday, January 8th. The shares were sold at an average price of $104.30, for a total value of $912,625.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jesse N. Hunter sold 10,000 shares of the company’s stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $98.73, for a total transaction of $987,300.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,500 shares of company stock worth $3,311,613. 3.00% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of CNC. Focused Wealth Management Inc boosted its holdings in Centene by 900.0% in the fourth quarter. Focused Wealth Management Inc now owns 1,000 shares of the company’s stock valued at $101,000 after purchasing an additional 900 shares during the last quarter. Financial Gravity Companies Inc. purchased a new stake in Centene in the fourth quarter valued at $112,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Centene in the fourth quarter valued at $131,000. Tower Research Capital LLC TRC purchased a new stake in Centene in the fourth quarter valued at $145,000. Finally, Advisors Preferred LLC purchased a new stake in Centene in the fourth quarter valued at $159,000. 92.03% of the stock is currently 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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