Centene (NYSE:CNC) Downgraded to Buy Rating by StockNews.com

Centene (NYSE:CNC - Get Free Report) was downgraded by equities researchers at StockNews.com from a "strong-buy" rating to a "buy" rating in a report released on Monday.

Other equities research analysts also recently issued research reports about the stock. Robert W. Baird reduced their target price 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. Wells Fargo & Company decreased their price objective on shares of Centene from $76.00 to $72.00 and set an "overweight" rating for the company in a research note on Friday, February 14th. Barclays reduced their price target on Centene from $93.00 to $84.00 and set an "overweight" rating on the stock in a report on Monday. Argus cut Centene from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Finally, Guggenheim began coverage on Centene in a research note on Wednesday, April 9th. They issued a "neutral" rating on the stock. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Centene presently has a consensus rating of "Moderate Buy" and a consensus target price of $79.77.

Centene Price Performance

Shares of Centene stock traded up $0.69 during trading hours on Monday, reaching $60.10. The company's stock had a trading volume of 5,390,493 shares, compared to its average volume of 4,767,718. 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 $55.03 and a one year high of $80.59. The firm has a 50 day moving average price of $60.20 and a 200-day moving average price of $60.62. The stock has a market cap of $29.90 billion, a P/E ratio of 9.63, a P/E/G ratio of 0.80 and a beta of 0.53.

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

Hedge Funds Weigh In On Centene

A number of large investors have recently added to or reduced their stakes in the company. Osborne Partners Capital Management LLC raised its stake in shares of Centene by 5.0% during the 4th quarter. Osborne Partners Capital Management LLC now owns 221,156 shares of the company's stock worth $13,398,000 after acquiring an additional 10,515 shares in the last quarter. Perpetual Ltd increased its position in shares of Centene by 68.4% during the fourth quarter. Perpetual Ltd now owns 36,126 shares of the company's stock worth $2,189,000 after purchasing an additional 14,671 shares in the last quarter. Polianta Ltd lifted its holdings in shares of Centene by 41.7% during the 4th quarter. Polianta Ltd now owns 22,100 shares of the company's stock valued at $1,338,000 after purchasing an additional 6,500 shares during the last quarter. KBC Group NV grew its stake in Centene by 27.3% during the 4th quarter. KBC Group NV now owns 1,602,533 shares of the company's stock worth $97,082,000 after buying an additional 343,559 shares during the last quarter. Finally, Washington Capital Management Inc. increased its position in Centene by 40.9% during the 4th quarter. Washington Capital Management Inc. now owns 19,130 shares of the company's stock valued at $1,159,000 after buying an additional 5,550 shares in the last quarter. 93.63% of the stock is currently owned by institutional investors.

Centene Company Profile

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.