Centene Corporation (CNC) - What Are Analysts Thinking About This Stock?

Key Points

• Analyst sentiment is broadly neutral: 21 firms give Centene an average “Hold” rating (11 holds, 9 buys, 1 sell), with an average 12-month price target of $73.80.
• Centene reported quarterly EPS of $0.58, beating the $0.10 consensus estimate, and revenue of $50.65 billion versus forecasts of $47.12 billion; revenue rose 1.9% year over year.
• The shares traded at $71.23 in Friday’s midday session. Institutional investors and hedge funds own 93.63% of the stock, while the company’s general counsel sold 56,500 shares in August.

Shares of Centene Corporation (NYSE:CNC - Get Free Report) have received an average rating of "Hold" from the twenty-one research firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, eleven have given a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $73.80.

CNC has been the topic of a number of research reports. Morgan Stanley set a $71.00 price objective on Centene and gave the stock an "equal weight" rating in a research note on Wednesday, October 28th. Bank of America restated a "buy" rating and issued a $82.00 target price (up from $80.00) on shares of Centene in a report on Wednesday, October 28th. UBS Group raised their price target on shares of Centene from $70.00 to $78.00 and gave the stock a "neutral" rating in a report on Wednesday, October 28th. Mizuho set a $72.00 target price on Centene in a research note on Wednesday, October 28th. Finally, Argus raised shares of Centene from a "hold" rating to a "buy" rating and set a $80.00 price objective for the company in a research note on Tuesday, August 11th.

Centene Stock Performance

Centene stock traded up $0.96 during mid-day trading on Friday, hitting $71.23. 4,002,872 shares of the company's stock traded hands, compared to its average volume of 5,782,810. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.69. Centene has a one year low of $31.63 and a one year high of $78.08. The firm has a 50 day moving average price of $67.07 and a 200 day moving average price of $56.51. The company has a market cap of $35.27 billion, a PE ratio of 24.40, a price-to-earnings-growth ratio of 0.41 and a beta of 1.07.

Centene (NYSE:CNC - Get Free Report) last issued its quarterly earnings results on Tuesday, October 27th. The company reported $0.58 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.48. The company had revenue of $50.65 billion for the quarter, compared to analyst estimates of $47.12 billion. Centene had a return on equity of 12.15% and a net margin of 0.72%. The company's quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the company earned $0.50 earnings per share. On average, equities analysts forecast that Centene will post 5.27 EPS for the current year.

Insiders Place Their Bets

In other news, General Counsel Christopher Koster sold 56,500 shares of the firm's stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $66.90, for a total value of $3,779,850.00. Following the sale, the general counsel directly owned 248,854 shares of the company's stock, valued at approximately $16,648,332.60. This trade represents a 18.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.37% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Centene

Large investors have recently added to or reduced their stakes in the company. Citizens Financial Group Inc. RI increased its holdings in Centene by 71.5% in the third quarter. Citizens Financial Group Inc. RI now owns 41,815 shares of the company's stock valued at $2,598,000 after purchasing an additional 17,429 shares during the last quarter. Deutsche Bank AG bought a new position in Centene during the second quarter worth about $257,279,000. Hara Capital LLC acquired a new position in shares of Centene during the 2nd quarter worth about $5,222,000. Paralel Advisors LLC acquired a new position in shares of Centene during the 2nd quarter worth about $4,531,000. Finally, Nilsine Partners LLC increased its stake in shares of Centene by 110.6% in the 2nd quarter. Nilsine Partners LLC now owns 35,320 shares of the company's stock valued at $2,267,000 after acquiring an additional 18,546 shares during the last quarter. Institutional investors and hedge funds own 93.63% of the company's stock.

About Centene

Centene Corporation is a U.S. health care company that provides managed care and related services, primarily for people enrolled in government-sponsored health programs. Its offerings include Medicaid and Medicare plans, as well as health insurance sold through the Affordable Care Act marketplace. Centene serves members through health plans and a network of health care providers. Its businesses include Ambetter, which offers marketplace health plans, and Wellcare, which provides Medicare-related coverage.

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