Centene (CNC) Stock Rating Lowered by Argus

Centene (NYSE:CNC) was downgraded by investment analysts at Argus to a “hold” rating in a report issued on Friday, March 29th, The Fly reports.

A number of other brokerages also recently issued reports on CNC. ValuEngine downgraded Centene from a “hold” rating to a “sell” rating in a research report on Wednesday, March 27th. Oppenheimer dropped their price target on Centene from $165.00 to $83.00 and set an “outperform” rating for the company in a research report on Wednesday, February 6th. Zacks Investment Research upgraded Centene from a “hold” rating to a “buy” rating and set a $66.50 price target for the company in a research report on Friday, January 11th. Cantor Fitzgerald lifted their price target on Centene from $72.50 to $82.50 and gave the company an “overweight” rating in a research report on Monday, December 17th. Finally, Cowen began coverage on Centene in a research report on Thursday, February 28th. They set an “outperform” rating and a $77.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $76.87.

CNC traded up $1.19 during trading hours on Friday, hitting $48.20. The stock had a trading volume of 17,863,700 shares, compared to its average volume of 10,152,706. Centene has a 1 year low of $45.44 and a 1 year high of $74.49. The firm has a market cap of $19.92 billion, a P/E ratio of 13.62, a price-to-earnings-growth ratio of 0.85 and a beta of 1.26. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.00 and a current ratio of 1.00.

Centene (NYSE:CNC) last announced its quarterly earnings data on Tuesday, February 5th. The company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.05. The company had revenue of $16.56 billion during the quarter, compared to analyst estimates of $16.38 billion. Centene had a return on equity of 14.10% and a net margin of 1.50%. The firm’s revenue for the quarter was up 29.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.49 EPS. As a group, research analysts predict 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 stock was sold at an average price of $65.01, for a total value of $598,092.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.50% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in the business. Neville Rodie & Shaw Inc. increased its stake in shares of Centene by 5.3% during the fourth quarter. Neville Rodie & Shaw Inc. now owns 2,000 shares of the company’s stock valued at $231,000 after buying an additional 100 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management increased its stake in shares of Centene by 1.5% during the fourth quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 6,600 shares of the company’s stock valued at $761,000 after buying an additional 100 shares during the period. Tributary Capital Management LLC increased its stake in shares of Centene by 0.7% during the fourth quarter. Tributary Capital Management LLC now owns 15,200 shares of the company’s stock valued at $1,753,000 after buying an additional 100 shares during the period. Kepos Capital LP increased its stake in shares of Centene by 0.3% during the third quarter. Kepos Capital LP now owns 50,231 shares of the company’s stock valued at $7,272,000 after buying an additional 136 shares during the period. Finally, Advisor Partners LLC increased its stake in shares of Centene by 2.2% during the fourth quarter. Advisor Partners LLC now owns 6,822 shares of the company’s stock valued at $787,000 after buying an additional 148 shares during the period. 45.57% of the stock is currently owned by institutional investors and hedge funds.

About Centene

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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