Leerink Swann Analysts Boost Earnings Estimates for Centene Corp (CNC)

Centene Corp (NYSE:CNC) – Equities research analysts at Leerink Swann upped their FY2021 earnings estimates for shares of Centene in a report issued on Wednesday, October 24th. Leerink Swann analyst A. Gupte now forecasts that the company will post earnings of $10.75 per share for the year, up from their previous estimate of $9.75. Leerink Swann currently has a “Outperform” rating and a $159.68 target price on the stock.

Centene (NYSE:CNC) last posted its quarterly earnings data on Tuesday, October 23rd. The company reported $1.79 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.77 by $0.02. Centene had a return on equity of 14.42% and a net margin of 1.58%. The company had revenue of $16.18 billion during the quarter, compared to analyst estimates of $15.93 billion. During the same period in the previous year, the business earned $1.35 EPS. Centene’s quarterly revenue was up 36.0% on a year-over-year basis.



CNC has been the topic of several other reports. Zacks Investment Research upgraded Centene from a “sell” rating to a “hold” rating in a report on Thursday. MED boosted their target price on Centene from $146.00 to $158.00 and gave the stock an “outperform” rating in a report on Tuesday, October 2nd. Oppenheimer boosted their target price on Centene from $146.00 to $158.00 and gave the stock an “outperform” rating in a report on Tuesday, October 2nd. Mitsubishi UFJ Financial Group assumed coverage on Centene in a report on Wednesday, September 19th. They set an “overweight” rating and a $170.00 target price on the stock. Finally, Morgan Stanley boosted their target price on Centene from $138.00 to $175.00 and gave the stock an “overweight” rating in a report on Wednesday, September 5th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Centene has a consensus rating of “Buy” and a consensus price target of $151.67.

NYSE:CNC opened at $127.25 on Friday. Centene has a 12 month low of $90.07 and a 12 month high of $148.24. The company has a quick ratio of 1.26, a current ratio of 1.03 and a debt-to-equity ratio of 0.59. The company has a market cap of $26.99 billion, a price-to-earnings ratio of 25.30, a PEG ratio of 1.24 and a beta of 0.82.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Martingale Asset Management L P lifted its holdings in Centene by 5.7% in the second quarter. Martingale Asset Management L P now owns 7,313 shares of the company’s stock valued at $902,000 after acquiring an additional 397 shares during the last quarter. State Treasurer State of Michigan lifted its holdings in Centene by 0.7% in the third quarter. State Treasurer State of Michigan now owns 61,124 shares of the company’s stock valued at $8,850,000 after acquiring an additional 400 shares during the last quarter. LS Investment Advisors LLC lifted its holdings in Centene by 5.0% in the second quarter. LS Investment Advisors LLC now owns 8,819 shares of the company’s stock valued at $1,087,000 after acquiring an additional 416 shares during the last quarter. Atria Investments LLC lifted its holdings in Centene by 10.1% in the third quarter. Atria Investments LLC now owns 5,840 shares of the company’s stock valued at $846,000 after acquiring an additional 536 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in Centene by 16.8% in the second quarter. American Century Companies Inc. now owns 3,819 shares of the company’s stock valued at $471,000 after acquiring an additional 550 shares during the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.

In related news, EVP Christopher D. Bowers sold 3,800 shares of the company’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $145.55, for a total value of $553,090.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Keith H. Williamson sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, September 28th. The shares were sold at an average price of $145.00, for a total value of $290,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,800 shares of company stock worth $3,018,990. Insiders own 3.00% of the company’s stock.

Centene Company Profile

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. It operates through 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 care, foster care, and dual eligible individual, as well as aged, blind, or disabled programs.

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Earnings History and Estimates for Centene (NYSE:CNC)

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