Centene Corp (NYSE:CNC) – Equities researchers at Jefferies Financial Group issued their Q2 2021 earnings per share estimates for shares of Centene in a report released on Tuesday, July 28th. Jefferies Financial Group analyst D. Windley forecasts that the company will post earnings of $1.47 per share for the quarter. Jefferies Financial Group currently has a “Buy” rating and a $83.00 target price on the stock. Jefferies Financial Group also issued estimates for Centene’s Q4 2021 earnings at $1.47 EPS.
Centene (NYSE:CNC) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $2.40 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.43 by ($0.03). Centene had a net margin of 1.70% and a return on equity of 14.07%. The firm had revenue of $27.71 billion for the quarter, compared to analyst estimates of $27.48 billion. During the same quarter in the previous year, the company earned $1.34 EPS. The company’s quarterly revenue was up 51.0% compared to the same quarter last year.
Shares of NYSE CNC opened at $65.25 on Friday. Centene has a 12-month low of $41.62 and a 12-month high of $74.70. The company has a market cap of $37.79 billion, a PE ratio of 22.89, a P/E/G ratio of 0.97 and a beta of 0.73. The stock has a 50 day simple moving average of $64.50 and a 200-day simple moving average of $63.43. The company has a current ratio of 1.22, a quick ratio of 1.14 and a debt-to-equity ratio of 0.66.
A number of large investors have recently added to or reduced their stakes in CNC. Advisor Group Holdings Inc. acquired a new stake in shares of Centene during the first quarter worth approximately $2,211,000. Piedmont Investment Advisors Inc. increased its holdings in Centene by 64.0% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 54,504 shares of the company’s stock valued at $3,238,000 after purchasing an additional 21,272 shares in the last quarter. State Street Corp increased its holdings in Centene by 45.2% during the 1st quarter. State Street Corp now owns 24,458,142 shares of the company’s stock valued at $1,453,058,000 after purchasing an additional 7,617,774 shares in the last quarter. Clarius Group LLC raised its position in Centene by 7.3% in the 2nd quarter. Clarius Group LLC now owns 3,847 shares of the company’s stock valued at $244,000 after purchasing an additional 263 shares during the last quarter. Finally, AQR Capital Management LLC boosted its stake in Centene by 41.7% in the first quarter. AQR Capital Management LLC now owns 135,974 shares of the company’s stock worth $8,078,000 after purchasing an additional 40,033 shares in the last quarter. Hedge funds and other institutional investors own 93.58% of the company’s stock.
In other news, Director Robert K. Ditmore sold 33,333 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $65.31, for a total value of $2,176,978.23. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Kenneth A. Burdick sold 35,000 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $67.09, for a total transaction of $2,348,150.00. The disclosure for this sale can be found here. Insiders have sold 222,861 shares of company stock worth $14,674,987 over the last ninety days. Company insiders own 1.90% 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. The company's Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term services and support, foster care, and medicare-medicaid plans, which covers dually eligible individuals, as well as aged, blind, or disabled programs.
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