Centene (NYSE:CNC) Releases Earnings Results, Beats Expectations By $0.31 EPS

Centene (NYSE:CNC) issued its earnings results on Tuesday. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.49 by $0.31, RTT News reports. The business had revenue of $40.81 billion during the quarter, compared to analysts’ expectations of $38.78 billion. Centene had a return on equity of 13.32% and a net margin of 1.90%. Centene’s revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.45 earnings per share. Centene updated its FY 2025 guidance to 7.250- EPS.

Centene Price Performance

Shares of NYSE:CNC opened at $61.36 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.64. The business has a 50 day moving average price of $61.26 and a 200 day moving average price of $67.10. The company has a market cap of $30.98 billion, a price-to-earnings ratio of 10.65, a PEG ratio of 0.85 and a beta of 0.45. Centene has a twelve month low of $55.03 and a twelve month high of $81.42.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Sanford C. Bernstein cut their target price on shares of Centene from $96.00 to $88.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $75.00 price objective (down previously from $80.00) on shares of Centene in a research report on Tuesday, December 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $90.00 price target on shares of Centene in a research note on Wednesday, December 11th. Barclays boosted their price target on Centene from $91.00 to $93.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Finally, StockNews.com upgraded shares of Centene from a “buy” rating to a “strong-buy” rating in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $81.31.

Insider Transactions at Centene

In related news, Director Thomas Greco bought 17,000 shares of Centene stock in a transaction that occurred on Wednesday, December 18th. The stock was acquired at an average price of $59.75 per share, for a total transaction of $1,015,750.00. Following the completion of the purchase, the director now owns 19,309 shares in the company, valued at approximately $1,153,712.75. This represents a 736.25 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sarah London purchased 4,117 shares of the business’s stock in a transaction on Friday, November 8th. The stock was purchased at an average cost of $60.80 per share, with a total value of $250,313.60. Following the acquisition, the chief executive officer now owns 667,229 shares in the company, valued at approximately $40,567,523.20. This represents a 0.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 45,010 shares of company stock worth $2,660,276 over the last three months. 0.29% of the stock is currently owned by insiders.

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.