Centene (NYSE:CNC) Issues Earnings Results, Beats Estimates By $0.17 EPS

Centene (NYSE:CNC) issued its earnings results on Friday. The company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.09 by $0.17, RTT News reports. The firm had revenue of $40.41 billion during the quarter, compared to analyst estimates of $36.43 billion. Centene had a net margin of 1.75% and a return on equity of 14.26%. Centene’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.11 earnings per share.

Centene Stock Performance

Shares of CNC opened at $74.00 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.68. The firm has a market cap of $39.58 billion, a PE ratio of 14.71, a P/E/G ratio of 0.92 and a beta of 0.38. The stock has a fifty day moving average price of $76.32 and a 200-day moving average price of $74.80. Centene has a 12 month low of $60.83 and a 12 month high of $81.42.

Analyst Ratings Changes

Several research firms have weighed in on CNC. Barclays started coverage on Centene in a report on Wednesday, March 6th. They set an “overweight” rating and a $101.00 price target for the company. Stephens reissued an “equal weight” rating and set a $85.00 target price (down previously from $92.00) on shares of Centene in a research report on Thursday, March 21st. Wells Fargo & Company increased their target price 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. StockNews.com cut Centene from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 28th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $90.00 price target on shares of Centene in a research note on Thursday, April 4th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Centene presently has an average rating of “Moderate Buy” and a consensus price target of $85.25.

Insider Transactions at Centene

In other news, President Kenneth J. Fasola sold 12,000 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $75.07, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Lori Jean Robinson sold 10,000 shares of Centene 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 completion of the transaction, the director now directly owns 11,455 shares in the company, valued at $886,731.55. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Kenneth J. Fasola sold 12,000 shares of Centene stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $75.07, for a total transaction of $900,840.00. Following the transaction, the president now directly owns 235,365 shares of the company’s stock, valued at $17,668,850.55. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

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.