In a report released today, Ricky Goldwasser from Morgan Stanley maintained a Buy rating on Centene (CNC), with a price target of $85.00. The company’s shares closed last Monday at $55.50.
According to TipRanks.com, Goldwasser is a 2-star analyst with an average return of -1.4% and a 44.3% success rate. Goldwasser covers the Services sector, focusing on stocks such as Charles River Labs, AmerisourceBergen, and Molina Healthcare.
Currently, the analyst consensus on Centene is a Strong Buy with an average price target of $82.04.
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Based on Centene’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $18.86 billion and net profit of $209 million. In comparison, last year the company earned revenue of $16.56 billion and had a net profit of $241 million.
Based on the recent corporate insider activity of 96 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CNC in relation to earlier this year. Earlier this month, Michael Neidorff, the COB, Pres & CEO of CNC bought 20,000 shares for a total of $570,200.
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 following segments: Managed Care and Specialty Services. The Medicaid Managed Care segment provides health plan coverage to individuals through government subsidized programs through Medicaid. The Specialty Services segment offers healthcare services and products to state programs, correctional facilities, healthcare organizations, employer groups, and other commercial organizations. The company was founded in 1984 and is headquartered in St. Louis, MO.
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