Centene (NYSE:CNC) had its price objective lowered by investment analysts at Morgan Stanley from $75.00 to $71.00 in a report released on Friday, BenzingaRatingsTable reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s price target would indicate a potential upside of 30.25% from the company’s current price.
Several other analysts have also issued reports on CNC. ValuEngine lowered shares of Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Credit Suisse Group set a GBX 6,350 ($82.97) price target on shares of AstraZeneca and gave the stock a “buy” rating in a research report on Friday, March 29th. Cowen reiterated a “buy” rating and set a $77.00 price target on shares of Centene in a research report on Sunday, March 31st. Cantor Fitzgerald reiterated a “buy” rating and set a $75.00 price target on shares of Emergent Biosolutions in a research report on Sunday, April 21st. Finally, SunTrust Banks increased their price target on shares of Polaris Industries to $102.00 and gave the stock a “hold” rating in a research report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have issued a buy rating to the company’s stock. Centene has an average rating of “Buy” and a consensus price target of $75.77.
Shares of NYSE:CNC opened at $54.51 on Friday. The stock’s 50 day simple moving average is $54.12. Centene has a 12-month low of $45.44 and a 12-month high of $74.49. The firm has a market cap of $22.00 billion, a price-to-earnings ratio of 15.40, a PEG ratio of 0.90 and a beta of 0.85. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.04.
Centene (NYSE:CNC) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.07. The business had revenue of $18.44 billion for the quarter, compared to analyst estimates of $17.44 billion. Centene had a net margin of 1.66% and a return on equity of 14.60%. The firm’s revenue for the quarter was up 39.8% on a year-over-year basis. During the same quarter last year, the business posted $2.17 EPS. Analysts forecast that Centene will post 4.37 earnings per share for the current fiscal year.
Large investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio lifted its stake in Centene by 5.9% in the 4th quarter. Public Employees Retirement System of Ohio now owns 85,746 shares of the company’s stock valued at $9,887,000 after purchasing an additional 4,781 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Centene during the fourth quarter valued at $468,000. Deltec Asset Management LLC bought a new position in shares of Centene during the first quarter valued at $12,458,000. Osborne Partners Capital Management LLC raised its stake in shares of Centene by 95.8% during the first quarter. Osborne Partners Capital Management LLC now owns 194,180 shares of the company’s stock valued at $10,311,000 after acquiring an additional 95,025 shares during the last quarter. Finally, Burney Co. raised its stake in shares of Centene by 554.3% during the first quarter. Burney Co. now owns 64,045 shares of the company’s stock valued at $3,401,000 after acquiring an additional 54,256 shares during the last quarter. 90.68% of the stock is owned by institutional investors and hedge funds.
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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