Centene (NYSE:CNC) Given New $82.00 Price Target at Deutsche Bank Aktiengesellschaft

Centene (NYSE:CNC) had its target price lifted by stock analysts at Deutsche Bank Aktiengesellschaft from $81.00 to $82.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s target price would suggest a potential upside of 11.44% from the stock’s current price.

CNC has been the subject of several other research reports. Wells Fargo & Company upped their price objective on shares of Centene from $89.00 to $93.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Oppenheimer reissued an “outperform” rating and issued a $110.00 price objective on shares of Centene in a report on Monday. Cantor Fitzgerald reiterated an “overweight” rating and set a $90.00 target price on shares of Centene in a research note on Thursday, April 4th. Barclays initiated coverage on shares of Centene in a research note on Wednesday, March 6th. They issued an “overweight” rating and a $101.00 target price for the company. Finally, StockNews.com raised Centene from a “buy” rating to a “strong-buy” rating in a report on Monday. Six investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Centene presently has an average rating of “Moderate Buy” and an average target price of $85.00.

Centene Stock Down 0.3 %

Shares of Centene stock traded down $0.25 on Tuesday, reaching $73.58. 1,740,144 shares of the company were exchanged, compared to its average volume of 3,105,939. The stock’s 50 day moving average price is $76.22 and its 200-day moving average price is $74.85. The company has a market cap of $39.36 billion, a P/E ratio of 14.60, a price-to-earnings-growth ratio of 0.92 and a beta of 0.38. Centene has a 1-year low of $60.83 and a 1-year high of $81.42. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.17 and a quick ratio of 1.11.

Centene (NYSE:CNC) last released its quarterly earnings data 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. Centene had a net margin of 1.76% and a return on equity of 14.19%. The business had revenue of $40.41 billion during the quarter, compared to analysts’ expectations of $36.43 billion. During the same period in the previous year, the company earned $2.11 EPS. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. As a group, equities analysts forecast that Centene will post 6.75 EPS for the current year.

Insider Activity

In related news, Director Lori Jean Robinson sold 10,000 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $77.41, for a total value of $774,100.00. Following the completion of the transaction, the director now owns 11,455 shares of the company’s stock, valued at approximately $886,731.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, President Kenneth J. Fasola sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $75.07, for a total value of $900,840.00. Following the sale, the president now directly owns 235,365 shares of the company’s stock, valued at $17,668,850.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lori Jean Robinson sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $77.41, for a total transaction of $774,100.00. Following the transaction, the director now directly owns 11,455 shares of the company’s stock, valued at approximately $886,731.55. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

Institutional Trading of Centene

Institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank acquired a new stake in Centene during the 4th quarter worth approximately $1,325,441,000. Harris Associates L P increased its holdings in Centene by 172.8% in the 4th quarter. Harris Associates L P now owns 10,863,367 shares of the company’s stock valued at $806,170,000 after purchasing an additional 6,881,450 shares in the last quarter. Jennison Associates LLC raised its position in Centene by 535.9% in the fourth quarter. Jennison Associates LLC now owns 1,837,980 shares of the company’s stock valued at $136,396,000 after purchasing an additional 1,548,961 shares during the period. Canoe Financial LP lifted its stake in shares of Centene by 375.1% during the fourth quarter. Canoe Financial LP now owns 1,943,982 shares of the company’s stock worth $144,263,000 after purchasing an additional 1,534,826 shares in the last quarter. Finally, Invesco Ltd. grew its position in Centene by 8.7% in the third quarter. Invesco Ltd. now owns 8,788,485 shares of the company’s stock valued at $605,351,000 after acquiring an additional 704,684 shares in the last quarter. 93.63% of the stock is currently owned by institutional investors and hedge funds.

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. 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.