Centene Co. (NYSE:CNC – Get Free Report) shares fell 3.9% during mid-day trading on Wednesday after Wolfe Research downgraded the stock from an outperform rating to a peer perform rating. The company traded as low as $64.30 and last traded at $65.14. 962,228 shares changed hands during trading, a decline of 73% from the average session volume of 3,560,769 shares. The stock had previously closed at $67.76.
CNC has been the subject of a number of other reports. Stephens lowered their price target on Centene from $95.00 to $87.00 in a research note on Wednesday, April 26th. Credit Suisse Group lowered their price target on Centene from $94.00 to $87.00 in a research note on Wednesday, April 26th. Truist Financial decreased their price objective on Centene from $88.00 to $83.00 in a research report on Tuesday, June 20th. UBS Group initiated coverage on Centene in a research report on Tuesday, June 20th. They issued a “neutral” rating and a $72.00 price objective for the company. Finally, Wells Fargo & Company decreased their price objective on Centene from $79.00 to $71.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 21st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $87.79.
Insider Activity
In other Centene news, Director Lori Jean Robinson sold 1,400 shares of the firm’s stock in a transaction that occurred on Thursday, April 27th. The stock was sold at an average price of $66.59, for a total value of $93,226.00. Following the completion of the sale, the director now owns 8,508 shares of the company’s stock, valued at $566,547.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.28% of the company’s stock.
Institutional Inflows and Outflows
Centene Stock Down 5.8 %
The stock has a 50 day simple moving average of $66.32 and a 200-day simple moving average of $69.27. The firm has a market cap of $35.01 billion, a PE ratio of 24.17, a PEG ratio of 0.89 and a beta of 0.58. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.07 and a quick ratio of 1.07.
Centene (NYSE:CNC – Get Free Report) last announced its quarterly earnings data on Tuesday, April 25th. The company reported $2.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.23 by ($0.12). The company had revenue of $38.89 billion for the quarter, compared to analysts’ expectations of $36.09 billion. Centene had a net margin of 1.01% and a return on equity of 13.61%. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.83 EPS. Sell-side analysts predict that Centene Co. will post 6.44 EPS for the current fiscal year.
Centene Company Profile
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. It operates in two segments, Managed Care and Specialty Services. The 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 cover dually eligible individuals, as well as aged, blind, or disabled programs.
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