News coverage about Centene Corporation (NYSE:CNC) has trended somewhat positive this week, Accern Sentiment reports. The research group rates the sentiment of news coverage by monitoring more than twenty million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Centene Corporation earned a news impact score of 0.18 on Accern’s scale. Accern also gave media coverage about the company an impact score of 46.1848358637334 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.
These are some of the news stories that may have impacted Accern Sentiment Analysis’s scoring:
- Head to Head Contrast: Triple-S Management Corp. (GTS) vs. Centene Corporation (CNC) (americanbankingnews.com)
- Centene Corporation (CNC) 4.58% away from 20 SMA – Voice Of Analysts (analystsbuzz.com)
- Traders Keeping Centene Corp (CNC) on Close Watch As Shares Move – Bulletin News (orobulletin.com)
- Envolve Dental Earns Two URAC Accreditations – Markets Insider (markets.businessinsider.com)
- Centene Corp (NYSE:CNC) Shareholder Notice: Investigation Announced (sbwire.com)
Several brokerages have recently weighed in on CNC. Morgan Stanley began coverage on shares of Centene Corporation in a report on Tuesday, June 6th. They set an “overweight” rating and a $86.00 price objective on the stock. Citigroup Inc. increased their price objective on shares of Centene Corporation from $80.00 to $89.00 and gave the stock a “sell” rating in a report on Wednesday, July 26th. ValuEngine lowered shares of Centene Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, June 13th. Cantor Fitzgerald reiterated a “buy” rating and set a $90.00 price objective on shares of Centene Corporation in a report on Tuesday, July 25th. Finally, UBS AG reiterated a “buy” rating and set a $95.00 price objective (up from $88.00) on shares of Centene Corporation in a report on Wednesday, July 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $86.94.
Centene Corporation (CNC) traded up 1.12% during mid-day trading on Monday, hitting $90.54. 1,388,535 shares of the stock were exchanged. The company has a 50 day moving average price of $84.38 and a 200 day moving average price of $77.32. Centene Corporation has a 52 week low of $50.00 and a 52 week high of $91.09. The stock has a market cap of $15.62 billion, a price-to-earnings ratio of 19.87 and a beta of 0.63.
Centene Corporation (NYSE:CNC) last announced its quarterly earnings results on Tuesday, July 25th. The company reported $1.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.29. The business had revenue of $11.95 billion during the quarter, compared to analysts’ expectations of $11.69 billion. Centene Corporation had a return on equity of 14.62% and a net margin of 1.72%. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.29 EPS. Analysts expect that Centene Corporation will post $4.92 EPS for the current fiscal year.
In related news, EVP Christopher D. Bowers sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $79.43, for a total value of $317,720.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Michael F. Neidorff sold 35,000 shares of the business’s stock in a transaction that occurred on Thursday, July 6th. The stock was sold at an average price of $80.26, for a total value of $2,809,100.00. The disclosure for this sale can be found here. In the last three months, insiders sold 43,167 shares of company stock valued at $3,470,973. 3.00% of the stock is currently owned by company insiders.
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About Centene Corporation
Centene Corporation is a healthcare company. The Company provides a portfolio of services to government sponsored healthcare programs, focusing on under-insured and uninsured individuals. The Company operates through two segments: Managed Care and Specialty Services. The Company’s Managed Care segment provides health plan coverage to individuals, through government subsidized programs, including Medicaid, the State Children’s Health Insurance Program (CHIP), Long Term Care, Foster Care, dual-eligible individuals (Duals) and the Supplemental Security Income Program, also known as the Aged, Blind or Disabled Program (ABD), Medicare, and Health Insurance Marketplace.
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