Oppenheimer Reaffirms “Outperform” Rating for Centene (NYSE:CNC)

Oppenheimer reissued their outperform rating on shares of Centene (NYSE:CNC) in a research note published on Friday morning, Benzinga reports. They currently have a $110.00 target price on the stock.

A number of other analysts also recently weighed in on CNC. Cantor Fitzgerald reaffirmed an overweight rating and set a $90.00 price target on shares of Centene in a report on Wednesday, June 12th. Barclays upped their target price on Centene from $101.00 to $104.00 and gave the stock an overweight rating in a research note on Thursday, May 2nd. Wells Fargo & Company lifted their price target on Centene from $89.00 to $93.00 and gave the company an overweight rating in a research note on Monday, April 15th. Baird R W upgraded Centene to a hold rating in a research report on Thursday, May 30th. Finally, Robert W. Baird started coverage on shares of Centene in a report on Thursday, May 30th. They issued a neutral rating and a $83.00 target price for the company. Eight equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $84.93.

Centene Trading Up 0.7 %

Shares of CNC stock opened at $67.92 on Friday. The stock has a market cap of $36.25 billion, a P/E ratio of 13.50, a price-to-earnings-growth ratio of 0.86 and a beta of 0.47. Centene has a 1 year low of $60.83 and a 1 year high of $81.42. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.66. The stock has a 50 day simple moving average of $73.16 and a 200 day simple moving average of $75.12.

Centene (NYSE:CNC) last released its earnings results on Friday, April 26th. The company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.17. The company had revenue of $40.41 billion for the quarter, compared to analyst estimates of $36.43 billion. Centene had a return on equity of 14.19% and a net margin of 1.76%. Centene’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.11 EPS. On average, research analysts predict that Centene will post 6.82 earnings per share for the current fiscal year.

Insider Activity at Centene

In other Centene news, President Kenneth J. Fasola sold 8,000 shares of Centene stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $77.62, for a total transaction of $620,960.00. Following the transaction, the president now directly owns 300,357 shares of the company’s stock, valued at approximately $23,313,710.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Christopher J. Coughlin sold 878 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $76.75, for a total value of $67,386.50. Following the transaction, the director now owns 25,504 shares in the company, valued at $1,957,432. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, President Kenneth J. Fasola sold 8,000 shares of Centene stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $77.62, for a total value of $620,960.00. Following the completion of the transaction, the president now directly owns 300,357 shares of the company’s stock, valued at $23,313,710.34. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Centene

A number of hedge funds have recently added to or reduced their stakes in CNC. Kestra Advisory Services LLC boosted its stake in Centene by 5.5% during the third quarter. Kestra Advisory Services LLC now owns 7,267 shares of the company’s stock worth $501,000 after acquiring an additional 381 shares in the last quarter. Envestnet Asset Management Inc. increased its position in Centene by 1.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 406,993 shares of the company’s stock valued at $28,034,000 after buying an additional 6,164 shares in the last quarter. Brandywine Global Investment Management LLC acquired a new position in Centene during the 3rd quarter worth approximately $5,071,000. LPL Financial LLC grew its stake in Centene by 1.1% in the third quarter. LPL Financial LLC now owns 134,179 shares of the company’s stock valued at $9,242,000 after acquiring an additional 1,471 shares during the period. Finally, Fuller & Thaler Asset Management Inc. increased its holdings in shares of Centene by 4.3% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 40,945 shares of the company’s stock valued at $2,820,000 after acquiring an additional 1,686 shares in the last quarter. 93.63% of the stock is currently owned by institutional investors.

About Centene

Centene Corporation operates as a healthcare enterprise that provides programs and services to under-insured and uninsured families, commercial organizations, and military families in the United States. The company operates through Medicaid, Medicare, Commercial, and Other segments. The Medicaid segment offers health plan coverage, including medicaid expansion, aged, blind, disabled, children's health insurance program, foster care, medicare-medicaid plans, long-term services and support.