Centene (NYSE:CNC) Sets New 52-Week Low - Should You Sell?

Centene Co. (NYSE:CNC - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $53.99 and last traded at $54.56, with a volume of 1337853 shares traded. The stock had previously closed at $55.22.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CNC shares. Morgan Stanley started coverage on shares of Centene in a research note on Monday, June 9th. They set an "overweight" rating and a $70.00 price objective for the company. Robert W. Baird cut their price objective on Centene from $71.00 to $69.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Barclays reaffirmed an "equal weight" rating and issued a $65.00 price target (down previously from $84.00) on shares of Centene in a research note on Monday, June 2nd. Guggenheim reiterated a "neutral" rating on shares of Centene in a research report on Tuesday, April 29th. Finally, Wall Street Zen lowered Centene from a "strong-buy" rating to a "buy" rating in a research report on Monday, April 28th. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $77.71.

Centene Stock Performance

The business has a 50-day moving average of $59.29 and a 200 day moving average of $59.92. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.11 and a quick ratio of 1.10. The company has a market cap of $27.20 billion, a PE ratio of 8.76, a PEG ratio of 0.80 and a beta of 0.45.

Centene (NYSE:CNC - Get Free Report) last announced its earnings results on Friday, April 25th. The company reported $2.90 EPS for the quarter, beating analysts' consensus estimates of $2.52 by $0.38. Centene had a net margin of 2.03% and a return on equity of 13.85%. The business had revenue of $46.62 billion during the quarter, compared to analysts' expectations of $43.16 billion. During the same period in the prior year, the company earned $2.26 earnings per share. The firm's revenue was up 15.4% on a year-over-year basis. Equities research analysts anticipate that Centene Co. will post 6.86 EPS for the current fiscal year.

Hedge Funds Weigh In On Centene

Several hedge funds have recently modified their holdings of the stock. MassMutual Private Wealth & Trust FSB grew its stake in Centene by 8.8% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 2,092 shares of the company's stock valued at $127,000 after acquiring an additional 169 shares in the last quarter. Quadcap Wealth Management LLC grew its position in shares of Centene by 3.2% in the first quarter. Quadcap Wealth Management LLC now owns 5,617 shares of the company's stock valued at $341,000 after purchasing an additional 172 shares in the last quarter. Capital Advisors Ltd. LLC lifted its position in Centene by 75.3% during the fourth quarter. Capital Advisors Ltd. LLC now owns 412 shares of the company's stock worth $25,000 after buying an additional 177 shares in the last quarter. Private Trust Co. NA boosted its stake in Centene by 23.7% during the fourth quarter. Private Trust Co. NA now owns 956 shares of the company's stock worth $58,000 after buying an additional 183 shares during the last quarter. Finally, Howard Capital Management Inc. increased its stake in shares of Centene by 5.4% in the 4th quarter. Howard Capital Management Inc. now owns 3,591 shares of the company's stock worth $218,000 after acquiring an additional 184 shares during the last quarter. Hedge funds and other institutional investors own 93.63% of the company's stock.

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.

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