Centene (CNC) Earns “Buy” Rating from Cantor Fitzgerald

Cantor Fitzgerald reiterated their buy rating on shares of Centene (NYSE:CNC) in a report issued on Sunday, AnalystRatings.com reports. Cantor Fitzgerald currently has a $83.00 price target on the stock.

A number of other research firms have also recently commented on CNC. Credit Suisse Group cut their target price on Centene from $76.00 to $63.00 and set a neutral rating on the stock in a research report on Friday, March 29th. Argus cut Centene to a hold rating in a research report on Friday, March 29th. Zacks Investment Research cut Centene from a strong-buy rating to a hold rating in a research report on Monday, April 15th. ValuEngine cut Centene from a sell rating to a strong sell rating in a research report on Thursday. Finally, Cowen started coverage on Centene in a research report on Thursday, February 28th. They set an outperform rating and a $77.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have given a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $76.87.

Centene stock opened at $48.20 on Friday. Centene has a 1-year low of $45.44 and a 1-year high of $74.49. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market capitalization of $19.92 billion, a price-to-earnings ratio of 13.62, a price-to-earnings-growth ratio of 0.85 and a beta of 1.26.

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

In related news, EVP Christopher D. Bowers sold 9,200 shares of the business’s stock in a transaction dated 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 is available at the SEC website. Insiders own 2.50% of the company’s stock.

A number of hedge funds have recently modified their holdings of CNC. Bank of New York Mellon Corp increased its position in Centene by 10.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,684,936 shares of the company’s stock valued at $243,944,000 after acquiring an additional 161,688 shares during the period. Mackenzie Financial Corp increased its position in Centene by 27.6% in the 3rd quarter. Mackenzie Financial Corp now owns 4,142 shares of the company’s stock valued at $600,000 after acquiring an additional 895 shares during the period. Teachers Advisors LLC increased its position in Centene by 6.5% in the 3rd quarter. Teachers Advisors LLC now owns 773,810 shares of the company’s stock valued at $112,032,000 after acquiring an additional 47,010 shares during the period. TIAA CREF Investment Management LLC increased its position in Centene by 0.5% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 1,319,790 shares of the company’s stock valued at $191,079,000 after acquiring an additional 7,098 shares during the period. Finally, Csenge Advisory Group acquired a new position in Centene in the 3rd quarter valued at about $105,000. Hedge funds and other institutional investors own 45.57% of the company’s stock.

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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