Centene (NYSE:CNC) Given Overweight Rating at Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Centene (NYSE:CNC) in a research note released on Tuesday morning, Benzinga reports. The brokerage currently has a $90.00 target price on the stock.

Other analysts have also issued research reports about the stock. JPMorgan Chase & Co. dropped their price objective on shares of Centene from $85.00 to $80.00 and set a neutral rating for the company in a report on Wednesday, July 10th. Wells Fargo & Company dropped their price objective on shares of Centene from $93.00 to $81.00 and set an overweight rating for the company in a research report on Monday, July 22nd. StockNews.com cut shares of Centene from a strong-buy rating to a buy rating in a research report on Thursday, July 18th. Jefferies Financial Group dropped their price objective on shares of Centene from $90.00 to $83.00 and set a buy rating for the company in a research report on Thursday, July 11th. Finally, Baird R W upgraded shares of Centene to a hold rating in a research report on Thursday, May 30th. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $83.93.

Centene Stock Performance

NYSE:CNC opened at $73.10 on Tuesday. The firm has a market capitalization of $39.01 billion, a PE ratio of 14.53, a price-to-earnings-growth ratio of 0.89 and a beta of 0.50. The firm has a 50-day moving average price of $69.03 and a 200 day moving average price of $73.76. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.66. Centene has a 12-month low of $60.83 and a 12-month high of $81.42.

Centene (NYSE:CNC) last posted its quarterly earnings data on Friday, July 26th. The company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $1.80 by $0.62. The company had revenue of $39.84 billion during the quarter, compared to analyst estimates of $36.83 billion. Centene had a net margin of 1.76% and a return on equity of 14.19%. The company’s revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the business posted $2.10 earnings per share. Research analysts anticipate that Centene will post 6.51 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Christopher J. Coughlin sold 878 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $76.75, for a total value of $67,386.50. Following the completion of the transaction, the director now owns 25,504 shares of the company’s stock, valued at approximately $1,957,432. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, President Kenneth J. Fasola sold 8,000 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $77.62, for a total value of $620,960.00. Following the completion of the transaction, the president now owns 300,357 shares of the company’s stock, valued at approximately $23,313,710.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Christopher J. Coughlin sold 878 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $76.75, for a total transaction of $67,386.50. Following the completion of the transaction, the director now directly owns 25,504 shares of the company’s stock, valued at approximately $1,957,432. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Centene

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hohimer Wealth Management LLC boosted its stake in Centene by 1.1% in the 4th quarter. Hohimer Wealth Management LLC now owns 12,020 shares of the company’s stock worth $892,000 after purchasing an additional 131 shares during the period. EP Wealth Advisors LLC lifted its position in Centene by 1.0% during the 1st quarter. EP Wealth Advisors LLC now owns 13,604 shares of the company’s stock worth $1,068,000 after buying an additional 133 shares in the last quarter. Sandy Spring Bank lifted its position in Centene by 10.1% during the 4th quarter. Sandy Spring Bank now owns 1,629 shares of the company’s stock worth $121,000 after buying an additional 150 shares in the last quarter. Fidelis Capital Partners LLC lifted its position in Centene by 5.0% during the 1st quarter. Fidelis Capital Partners LLC now owns 3,316 shares of the company’s stock worth $260,000 after buying an additional 158 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in Centene by 7.2% during the 4th quarter. Blue Trust Inc. now owns 2,454 shares of the company’s stock worth $169,000 after buying an additional 164 shares in the last quarter. 93.63% of the stock is owned by institutional investors and hedge funds.

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.