Centene (NYSE:CNC) Given Equal Weight Rating at Barclays

Centene (NYSE:CNC - Get Free Report)'s stock had its "equal weight" rating restated by equities research analysts at Barclays in a research note issued on Monday, MarketBeat Ratings reports. They currently have a $65.00 price objective on the stock, down from their previous price objective of $84.00. Barclays's price target would suggest a potential upside of 18.01% from the stock's previous close.

Several other equities research analysts also recently issued reports on CNC. Wall Street Zen downgraded shares of Centene from a "strong-buy" rating to a "buy" rating in a research note on Monday, April 28th. Wells Fargo & Company reduced their target price on shares of Centene from $76.00 to $72.00 and set an "overweight" rating on the stock in a research note on Friday, February 14th. Guggenheim reiterated a "neutral" rating on shares of Centene in a research report on Tuesday, April 29th. Robert W. Baird reduced their price target on shares of Centene from $71.00 to $69.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Finally, Argus cut Centene from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, Centene presently has a consensus rating of "Moderate Buy" and an average price target of $78.31.

Centene Stock Up 0.3%

CNC traded up $0.14 during midday trading on Monday, hitting $55.08. 1,805,035 shares of the company's stock traded hands, compared to its average volume of 4,873,730. The company has a market cap of $27.41 billion, a PE ratio of 8.81, a price-to-earnings-growth ratio of 0.80 and a beta of 0.48. The stock's fifty day simple moving average is $60.19 and its 200-day simple moving average is $60.13. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.11 and a quick ratio of 1.10. Centene has a one year low of $54.01 and a one year high of $80.59.

Centene (NYSE:CNC - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The company reported $2.90 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.38. The firm had revenue of $46.62 billion for the quarter, compared to analyst estimates of $43.16 billion. Centene had a net margin of 2.03% and a return on equity of 13.85%. The company's revenue for the quarter was up 15.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.26 earnings per share. As a group, equities analysts anticipate that Centene will post 6.86 earnings per share for the current fiscal year.

Institutional Trading of Centene

A number of large investors have recently bought and sold shares of the business. Stratos Wealth Partners LTD. increased its stake in Centene by 4.1% during the 4th quarter. Stratos Wealth Partners LTD. now owns 4,094 shares of the company's stock worth $248,000 after purchasing an additional 163 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in shares of Centene by 8.8% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 2,092 shares of the company's stock worth $127,000 after acquiring an additional 169 shares in the last quarter. Quadcap Wealth Management LLC grew its stake in shares of Centene by 3.2% during the 1st quarter. Quadcap Wealth Management LLC now owns 5,617 shares of the company's stock worth $341,000 after acquiring an additional 172 shares in the last quarter. Capital Advisors Ltd. LLC grew its stake in shares of Centene by 75.3% during the 4th quarter. Capital Advisors Ltd. LLC now owns 412 shares of the company's stock worth $25,000 after acquiring an additional 177 shares in the last quarter. Finally, Private Trust Co. NA grew its stake in shares of Centene by 23.7% during the 4th quarter. Private Trust Co. NA now owns 956 shares of the company's stock worth $58,000 after acquiring an additional 183 shares in the last quarter. 93.63% of the stock is owned by institutional investors.

About Centene

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.