Shares of Centene Co. (NYSE:CNC - Get Free Report) hit a new 52-week low during trading on Thursday . The company traded as low as $62.10 and last traded at $63.17, with a volume of 2665771 shares traded. The stock had previously closed at $69.30.
Analysts Set New Price Targets
A number of research analysts recently commented on CNC shares. Cantor Fitzgerald restated an "overweight" rating and issued a $90.00 target price on shares of Centene in a research note on Tuesday, October 1st. Jefferies Financial Group downgraded Centene from a "buy" rating to a "hold" rating and decreased their price target for the company from $83.00 to $69.00 in a research note on Wednesday, July 24th. StockNews.com raised Centene from a "buy" rating to a "strong-buy" rating in a report on Tuesday. Stephens reissued an "equal weight" rating and set a $78.00 price target on shares of Centene in a report on Monday, August 5th. Finally, Oppenheimer reduced their price target on Centene from $110.00 to $95.00 and set an "outperform" rating on the stock in a research report on Monday, July 29th. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $85.58.
Read Our Latest Analysis on Centene
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Centene Price Performance
The company has a market capitalization of $33.62 billion, a P/E ratio of 12.56, a price-to-earnings-growth ratio of 0.98 and a beta of 0.48. The firm's 50-day moving average is $74.97 and its 200-day moving average is $72.87. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.17 and a quick ratio of 1.17.
Centene (NYSE:CNC - Get Free Report) last released its quarterly earnings results on Friday, July 26th. The company reported $2.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.44 by ($0.02). The business had revenue of $39.84 billion for the quarter, compared to analysts' expectations of $36.83 billion. Centene had a net margin of 1.79% and a return on equity of 14.45%. Centene's revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the previous year, the company earned $2.10 EPS. Analysts predict that Centene Co. will post 6.8 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. EP Wealth Advisors LLC raised its position in shares of Centene by 1.0% in the 1st quarter. EP Wealth Advisors LLC now owns 13,604 shares of the company's stock valued at $1,068,000 after purchasing an additional 133 shares during the last quarter. WR Wealth Planners LLC raised its position in Centene by 41.4% during the 2nd quarter. WR Wealth Planners LLC now owns 468 shares of the company's stock worth $31,000 after buying an additional 137 shares during the last quarter. Whittier Trust Co. grew its stake in shares of Centene by 10.0% during the 2nd quarter. Whittier Trust Co. now owns 1,562 shares of the company's stock worth $104,000 after purchasing an additional 142 shares during the period. Fidelis Capital Partners LLC grew its stake in shares of Centene by 5.0% during the 1st quarter. Fidelis Capital Partners LLC now owns 3,316 shares of the company's stock worth $260,000 after purchasing an additional 158 shares during the period. Finally, Bleakley Financial Group LLC grew its stake in shares of Centene by 2.4% during the 1st quarter. Bleakley Financial Group LLC now owns 7,287 shares of the company's stock worth $572,000 after purchasing an additional 173 shares during the period. 93.63% of the stock is currently owned by institutional investors.
Centene Company Profile
(
Get Free Report)
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.
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