Centene (NYSE:CNC) Downgraded by TheStreet to “C+”

TheStreet lowered shares of Centene (NYSE:CNC) from a b rating to a c+ rating in a research report sent to investors on Monday, TheStreetRatingsTable reports.

Other equities research analysts also recently issued research reports about the company. ValuEngine upgraded Centene from a strong sell rating to a sell rating in a research report on Tuesday, March 17th. Deutsche Bank cut their price objective on Centene from $84.00 to $82.00 and set a buy rating for the company in a research report on Friday, March 6th. Sanford C. Bernstein increased their price objective on Centene from $84.00 to $103.00 and gave the company a top pick rating in a research report on Tuesday, January 28th. Goldman Sachs Group began coverage on Centene in a research report on Friday, February 7th. They set a buy rating and a $80.00 price objective for the company. Finally, BMO Capital Markets increased their price objective on Centene from $65.00 to $70.00 and gave the company an outperform rating in a research report on Monday, December 16th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of Buy and an average price target of $78.50.

CNC traded up $6.01 during trading on Monday, reaching $58.30. The stock had a trading volume of 6,652,778 shares, compared to its average volume of 6,726,286. The firm has a market capitalization of $28.60 billion, a price-to-earnings ratio of 18.57, a price-to-earnings-growth ratio of 0.72 and a beta of 1.01. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 1.08. Centene has a 1-year low of $41.62 and a 1-year high of $68.64. The stock has a 50 day moving average of $59.13 and a two-hundred day moving average of $56.28.

Centene (NYSE:CNC) last released its earnings results on Tuesday, February 4th. The company reported $0.73 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.73. The firm had revenue of $18.86 billion during the quarter, compared to the consensus estimate of $18.45 billion. Centene had a return on equity of 15.18% and a net margin of 1.77%. The firm’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.69 earnings per share. On average, research analysts forecast that Centene will post 4.72 EPS for the current fiscal year.

In other Centene news, Director Tommy G. Thompson sold 500 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $62.98, for a total transaction of $31,490.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert K. Ditmore sold 30,000 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $65.31, for a total transaction of $1,959,300.00. The disclosure for this sale can be found here. 1.90% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the business. BI Asset Management Fondsmaeglerselskab A S increased its stake in shares of Centene by 22.4% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 127,132 shares of the company’s stock worth $7,993,000 after acquiring an additional 23,270 shares during the last quarter. Quadrant Capital Group LLC increased its stake in shares of Centene by 13.3% in the fourth quarter. Quadrant Capital Group LLC now owns 5,738 shares of the company’s stock worth $342,000 after acquiring an additional 672 shares during the last quarter. Macquarie Group Ltd. increased its stake in shares of Centene by 254.3% in the fourth quarter. Macquarie Group Ltd. now owns 515,333 shares of the company’s stock worth $32,399,000 after acquiring an additional 369,887 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of Centene by 598.0% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,710,194 shares of the company’s stock worth $107,802,000 after acquiring an additional 1,465,194 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of Centene by 21.0% in the fourth quarter. Franklin Resources Inc. now owns 5,596 shares of the company’s stock worth $352,000 after acquiring an additional 972 shares during the last quarter. 74.89% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Centene (NYSE:CNC)

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