Centene Corporation (NYSE:CNC) Given Consensus Recommendation of "Hold" by Brokerages

Centene Corporation (NYSE:CNC - Get Free Report) has been given a consensus rating of "Hold" by the seventeen ratings firms that are covering the firm, Marketbeat Ratings reports. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $68.87.

A number of research analysts recently commented on CNC shares. UBS Group reissued a "neutral" rating and issued a $45.00 price target (down from $80.00) on shares of Centene in a report on Wednesday. Bank of America cut their target price on shares of Centene from $65.00 to $52.00 and set a "neutral" rating for the company in a research note on Wednesday. Robert W. Baird decreased their price target on shares of Centene from $71.00 to $69.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Guggenheim restated a "neutral" rating on shares of Centene in a research report on Tuesday, April 29th. Finally, Jefferies Financial Group dropped their price target on Centene from $64.00 to $61.00 and set a "hold" rating for the company in a research note on Tuesday, April 29th.

Centene Stock Performance

Shares of NYSE:CNC traded down $22.85 during mid-day trading on Wednesday, reaching $33.80. 92,939,423 shares of the company traded hands, compared to its average volume of 5,312,168. Centene has a 52 week low of $33.78 and a 52 week high of $80.59. The firm has a market cap of $16.82 billion, a PE ratio of 5.04, a PEG ratio of 0.65 and a beta of 0.44. The company's 50 day moving average price is $57.55 and its 200-day moving average price is $59.57. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.11 and a quick ratio of 1.11.

Centene (NYSE:CNC - Get Free Report) last announced its quarterly earnings data on Friday, April 25th. The company reported $2.90 EPS for the quarter, beating the consensus estimate of $2.52 by $0.38. Centene had a net margin of 2.04% and a return on equity of 14.56%. The firm had revenue of $46.62 billion for the quarter, compared to the consensus estimate of $43.16 billion. During the same period last year, the firm earned $2.26 EPS. The company's revenue was up 15.4% on a year-over-year basis. On average, equities analysts expect that Centene will post 6.86 EPS for the current fiscal year.

Hedge Funds Weigh In On Centene

Hedge funds have recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Centene in the fourth quarter worth approximately $1,536,167,000. AQR Capital Management LLC increased its stake in Centene by 42.7% in the first quarter. AQR Capital Management LLC now owns 11,049,494 shares of the company's stock worth $669,820,000 after purchasing an additional 3,306,796 shares during the period. Nuveen LLC purchased a new stake in shares of Centene during the first quarter valued at $146,557,000. Boston Partners increased its stake in Centene by 155.3% in the 1st quarter. Boston Partners now owns 3,901,603 shares of the company's stock worth $236,802,000 after buying an additional 2,373,280 shares during the period. Finally, Two Sigma Investments LP boosted its position in Centene by 1,788.1% in the 4th quarter. Two Sigma Investments LP now owns 2,245,511 shares of the company's stock valued at $136,033,000 after buying an additional 2,126,582 shares during the period. 93.63% of the stock is currently 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.