The stock of Centene Corp (NYSE:CNC) is a huge mover today! About 1.56 million shares traded hands or 25.81% up from the average. Centene Corp (NYSE:CNC) has risen 8.26% since March 1, 2016 and is uptrending. It has underperformed by 0.98% the S&P500.
The move comes after 6 months positive chart setup for the $10.05 billion company. It was reported on Oct, 4 by Barchart.com. We have $82.79 PT which if reached, will make NYSE:CNC worth $3.32B more.
Analysts await Centene Corp (NYSE:CNC) to report earnings on October, 25 before the open. They expect $1.17 EPS, up 39.29% or $0.33 from last year’s $0.84 per share. CNC’s profit will be $188.89 million for 13.30 P/E if the $1.17 EPS becomes a reality. After $1.29 actual EPS reported by Centene Corp for the previous quarter, Wall Street now forecasts -9.30% negative EPS growth.
Centene Corp (NYSE:CNC) Ratings Coverage
Out of 12 analysts covering Centene Corporation (NYSE:CNC), 9 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 75% are positive. Centene Corporation has been the topic of 15 analyst reports since July 22, 2015 according to StockzIntelligence Inc. Stifel Nicolaus upgraded the shares of CNC in a report on Thursday, May 26 to “Buy” rating. UBS upgraded Centene Corp (NYSE:CNC) rating on Monday, July 27. UBS has “Buy” rating and $80 price target. The firm has “Outperform” rating by Cowen & Co given on Monday, April 25. Goldman Sachs downgraded the shares of CNC in a report on Wednesday, July 22 to “Sell” rating. The firm earned “Overweight” rating on Monday, June 20 by Barclays Capital. The rating was maintained by Barclays Capital on Wednesday, January 6 with “Equal-Weight”. Morgan Stanley upgraded the stock to “Overweight” rating in Wednesday, June 29 report. Jefferies maintained Centene Corp (NYSE:CNC) rating on Friday, January 8. Jefferies has “Buy” rating and $80 price target. The firm has “Market Perform” rating by Bernstein given on Thursday, June 16. The stock of Centene Corp (NYSE:CNC) earned “Buy” rating by Jefferies on Wednesday, July 27.
According to Zacks Investment Research, “Centene Corporation provides managed care programs and related services to individuals receiving benefits under Medicaid, including Supplemental Security Income, and the State Children’s Health Insurance Program.”
Insitutional Activity: The institutional sentiment decreased to 0.83 in 2016 Q2. Its down 1.08, from 1.91 in 2016Q1. The ratio dropped, as 77 funds sold all Centene Corp shares owned while 185 reduced positions. 64 funds bought stakes while 154 increased positions. They now own 147.39 million shares or 7.12% less from 158.68 million shares in 2016Q1.
Bnp Paribas Inv Prns Sa owns 13,597 shares or 0.01% of their US portfolio. Next Fincl Grp Inc Inc Inc owns 81 shares or 0% of their US portfolio. Da Davidson holds 0.01% or 2,610 shares in its portfolio. Gateway Investment Advisers Ltd Liability accumulated 0.01% or 14,427 shares. California State Teachers Retirement Sys, a California-based fund reported 356,640 shares. Victory Management reported 1.82M shares or 0.52% of all its holdings. Axa last reported 0.01% of its portfolio in the stock. Penn Capital accumulated 0.11% or 25,809 shares. National Pension last reported 0.09% of its portfolio in the stock. Alphamark Ltd has 2.66% invested in the company for 63,220 shares. Beacon Fincl Group Inc accumulated 8,823 shares or 0.14% of the stock. Intrust Bank & Trust Na owns 18,487 shares or 0.53% of their US portfolio. Hbk L P, a Texas-based fund reported 4,985 shares. Gam Holding Ag has 5,515 shares for 0.01% of their US portfolio. Ifrah Fincl Svcs Inc has 0.35% invested in the company for 12,244 shares.
Insider Transactions: Since April 28, 2016, the stock had 1 insider buy, and 4 sales for $2.42 million net activity. Shares for $651,700 were sold by Hunter Jesse N on Thursday, April 28. BROOKS MARK J sold $254,449 worth of Centene Corp (NYSE:CNC) on Monday, June 6. $1.10M worth of Centene Corp (NYSE:CNC) shares were sold by GEPHARDT Richard A. DITMORE ROBERT K also bought $10,050 worth of Centene Corp (NYSE:CNC) on Wednesday, September 7. Baldwin Kenneth Rone sold $426,000 worth of Centene Corp (NYSE:CNC) on Friday, July 1.
More news for Centene Corp (NYSE:CNC) were recently published by: Prnewswire.com, which released: “SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation …” on September 09, 2016. Prnewswire.com‘s article titled: “Centene Corporation To Present At BAML Global Healthcare Conference 2016 In London” and published on September 12, 2016 is yet another important article.
CNC Company Profile
Centene Corporation, incorporated on September 26, 2001, is a diversified healthcare firm that provides programs and services to government sponsored healthcare programs. The Firm offers member-focused services by assisting in accessing care, coordinating referrals to related health and social services, and addressing member concerns and questions. It also provides education and outreach programs to inform and assist members in accessing appropriate healthcare services. The Firm operates through two divisions: Managed Care and Specialty Services. The Managed Care segment consists of the Company’s health plans, including all of the functions needed to operate them. The Specialty Services segment consists of the Company’s specialty companies offering auxiliary healthcare services and products.
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