Centene Corporation (NYSE:CNC) – Investment analysts at Oppenheimer Holdings raised their FY2017 EPS estimates for Centene Corporation in a research note issued to investors on Tuesday. Oppenheimer Holdings analyst M. Wiederhorn now forecasts that the company will earn $4.92 per share for the year, up from their prior estimate of $4.79.
A number of other research analysts also recently issued reports on CNC. Piper Jaffray Companies reiterated a “buy” rating and set a $105.00 target price on shares of Centene Corporation in a research report on Thursday. Jefferies Group LLC reiterated a “buy” rating and set a $98.00 target price on shares of Centene Corporation in a research report on Thursday. UBS AG reiterated a “buy” rating and set a $95.00 target price (up previously from $88.00) on shares of Centene Corporation in a research report on Wednesday. Zacks Investment Research upgraded shares of Centene Corporation from a “hold” rating to a “strong-buy” rating and set a $97.00 target price on the stock in a research report on Thursday. Finally, ValuEngine upgraded shares of Centene Corporation from a “hold” rating to a “buy” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $86.82.
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Centene Corporation (NYSE:CNC) opened at 81.17 on Friday. Centene Corporation has a 52-week low of $50.00 and a 52-week high of $86.02. The firm has a market cap of $13.98 billion, a price-to-earnings ratio of 19.98 and a beta of 0.68. The company has a 50-day moving average of $81.21 and a 200 day moving average of $73.05.
Centene Corporation (NYSE:CNC) last posted its quarterly earnings results on Tuesday, July 25th. The company reported $1.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.30 by $0.29. Centene Corporation had a net margin of 1.72% and a return on equity of 14.62%. The firm had revenue of $11.95 billion during the quarter, compared to analyst estimates of $11.69 billion. During the same quarter in the prior year, the business posted $1.29 earnings per share. The company’s quarterly revenue was up 9.7% compared to the same quarter last year.
In related news, EVP Jesse N. Hunter sold 5,000 shares of the stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $74.40, for a total transaction of $372,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Mark J. Brooks sold 2,161 shares of the stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $75.43, for a total transaction of $163,004.23. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,411 shares of company stock valued at $3,974,884. 3.00% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the stock. Bronfman E.L. Rothschild L.P. raised its position in Centene Corporation by 5.9% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,662 shares of the company’s stock valued at $118,000 after buying an additional 93 shares during the last quarter. Quadrant Capital Group LLC raised its position in Centene Corporation by 5.6% in the first quarter. Quadrant Capital Group LLC now owns 2,263 shares of the company’s stock valued at $155,000 after buying an additional 120 shares during the last quarter. Creative Planning raised its position in Centene Corporation by 5.4% in the first quarter. Creative Planning now owns 2,476 shares of the company’s stock valued at $176,000 after buying an additional 127 shares during the last quarter. Howard Hughes Medical Institute raised its position in Centene Corporation by 96.7% in the first quarter. Howard Hughes Medical Institute now owns 2,685 shares of the company’s stock valued at $191,000 after buying an additional 1,320 shares during the last quarter. Finally, Reliance Trust Co. of Delaware bought a new position in Centene Corporation during the first quarter valued at $201,000. Institutional investors own 93.51% of the company’s stock.
About Centene Corporation
Centene Corporation is a healthcare company. The Company provides a portfolio of services to government sponsored healthcare programs, focusing on under-insured and uninsured individuals. The Company operates through two segments: Managed Care and Specialty Services. The Company’s Managed Care segment provides health plan coverage to individuals, through government subsidized programs, including Medicaid, the State Children’s Health Insurance Program (CHIP), Long Term Care, Foster Care, dual-eligible individuals (Duals) and the Supplemental Security Income Program, also known as the Aged, Blind or Disabled Program (ABD), Medicare, and Health Insurance Marketplace.
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