Oppenheimer analyst Michael Wiederhorn maintained a Buy rating on Centene Corp (NYSE: CNC) today and set a price target of $138. The company’s shares closed on Friday at $123.77, close to its 52-week high of $126.04.
Wiederhorn commented:
“Centene held its annual the company’s many business lines appear to be on track. The company put on display its impressive new technological capabilities from some of its recent acquisitions, including RxAdvance and Interpreta. Furthermore, Centene announced that it has received AG approval in the highly accretive deal seems on track to close July 1st. Given the full ramp in Fidelis (OPCO est: +$5B) and other new contracts, Centene has visibility into $69B of revenues for 2019, +15% compared to its current full-year 2018 guidance and $1M ahead of our estimate. Due to the robust outlook and removal of the risk around Fidelis, we are raising our price target to $138 from $130.”
According to TipRanks.com, Wiederhorn is a top 100 analyst with an average return of 16.8% and a 72.8% success rate. Wiederhorn covers the Services sector, focusing on stocks such as Cross Country Healthcare, Addus Homecare Corp, and Envision Healthcare.
Currently, the analyst consensus on Centene Corp is Strong Buy and the average price target is $133.67, representing a 8.0% upside.
In a report issued on June 15, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $137 price target.
See today’s analyst top recommended stocks >>
The company has a one-year high of $126.04 and a one-year low of $77.97. Currently, Centene Corp has an average volume of 1.75M.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Centene Corp. engages in the provision of programs and services to government sponsored healthcare programs. It operates through the Managed Care and Specialty Services segments. The Medicaid Managed Care segment provides health plan coverage to individuals through government subsidized programs through Medicaid.
