Centene (NYSE:CNC) Hits New 52-Week Low - Time to Sell?

Centene Co. (NYSE:CNC - Get Free Report) shares reached a new 52-week low on Monday . The stock traded as low as $54.37 and last traded at $54.80, with a volume of 694043 shares changing hands. The stock had previously closed at $56.44.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CNC shares. Guggenheim reiterated a "neutral" rating on shares of Centene in a research report on Tuesday, April 29th. Jefferies Financial Group decreased their price objective on shares of Centene from $64.00 to $61.00 and set a "hold" rating for the company in a report on Tuesday, April 29th. Argus cut Centene from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Robert W. Baird lowered their price objective 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. Finally, Barclays restated an "equal weight" rating and set a $65.00 target price (down previously from $84.00) on shares of Centene in a research report on Monday. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $78.31.

Centene Price Performance

The stock has a market capitalization of $27.27 billion, a P/E ratio of 8.78, a PEG ratio of 0.80 and a beta of 0.48. The company has a quick ratio of 1.10, a current ratio of 1.11 and a debt-to-equity ratio of 0.70. The company has a 50 day moving average of $60.19 and a 200-day moving average of $60.13.

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 analysts' consensus estimates of $2.52 by $0.38. Centene had a return on equity of 13.85% and a net margin of 2.03%. The business 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 business earned $2.26 EPS. The firm's revenue was up 15.4% compared to the same quarter last year. Sell-side analysts predict that Centene Co. will post 6.86 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CNC. Ameriflex Group Inc. bought a new position in Centene during the 4th quarter worth $26,000. Pinney & Scofield Inc. bought a new stake in Centene during the 4th quarter worth approximately $25,000. Capital Advisors Ltd. LLC grew its holdings in shares of Centene by 75.3% in the fourth quarter. Capital Advisors Ltd. LLC now owns 412 shares of the company's stock valued at $25,000 after acquiring an additional 177 shares in the last quarter. Hurley Capital LLC bought a new position in Centene during the fourth quarter valued at $26,000. Finally, Quarry LP bought a new position in shares of Centene in the first quarter worth $26,000. 93.63% of the stock is owned by institutional investors and hedge funds.

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.