Centene (CNC) Cut to Strong Sell at ValuEngine

ValuEngine downgraded shares of Centene (NYSE:CNC) from a sell rating to a strong sell rating in a research note released on Thursday, ValuEngine reports.

Several other research firms have also weighed in on CNC. Zacks Investment Research raised shares of Centene from a hold rating to a buy rating in a research note on Wednesday, February 6th. Oppenheimer reduced their price objective on shares of Centene from $165.00 to $83.00 and set an outperform rating on the stock in a research note on Wednesday, February 6th. Jefferies Financial Group reissued a buy rating and set a $76.00 price objective on shares of Centene in a research note on Thursday, February 7th. Cowen assumed coverage on shares of Centene in a research note on Thursday, February 28th. They set an outperform rating and a $77.00 price objective on the stock. Finally, Cantor Fitzgerald reissued a buy rating and set a $83.00 price objective on shares of Centene in a research note on Wednesday, February 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have given a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $76.87.

Shares of NYSE:CNC opened at $48.20 on Thursday. Centene has a one year low of $45.44 and a one year high of $74.49. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.60. The company has a market cap of $19.92 billion, a PE ratio of 13.50, a price-to-earnings-growth ratio of 0.85 and a beta of 1.26.

Centene (NYSE:CNC) last issued its quarterly earnings results on Tuesday, February 5th. The company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.33 by $0.05. Centene had a net margin of 1.50% and a return on equity of 14.10%. The company had revenue of $16.56 billion during the quarter, compared to analysts’ expectations of $16.38 billion. During the same quarter in the previous year, the company earned $0.49 EPS. Centene’s revenue was up 29.3% on a year-over-year basis. As a group, equities research analysts forecast that Centene will post 4.24 earnings per share for the current fiscal year.

In other Centene news, EVP Christopher D. Bowers sold 9,200 shares of Centene stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $65.01, for a total value of $598,092.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.50% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Financial Gravity Wealth Inc. bought a new position in Centene in the first quarter valued at approximately $205,000. Strs Ohio lifted its stake in Centene by 127.9% in the first quarter. Strs Ohio now owns 950,478 shares of the company’s stock valued at $50,470,000 after buying an additional 533,328 shares in the last quarter. Brookstone Capital Management bought a new position in Centene in the first quarter valued at approximately $365,000. Eqis Capital Management Inc. lifted its stake in Centene by 38.4% in the first quarter. Eqis Capital Management Inc. now owns 33,589 shares of the company’s stock valued at $1,784,000 after buying an additional 9,324 shares in the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. lifted its stake in Centene by 1,521.6% in the first quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 265,134 shares of the company’s stock valued at $14,079,000 after buying an additional 248,784 shares in the last quarter. 45.57% of the stock is currently owned by hedge funds and other institutional investors.

Centene Company Profile

Centene Corporation operates as a diversified and multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. The company's Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term services and support, foster care, and medicare-medicaid plans, which covers dually eligible individuals, as well as aged, blind, or disabled programs.

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Analyst Recommendations for Centene (NYSE:CNC)

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