Morgan Stanley analyst Ricky Goldwasser maintained a Buy rating on Centene Corp (CNC) today and set a price target of $62.00. The company’s shares closed last Monday at $45.33, close to its 52-week low of $44.50.
According to TipRanks.com, Goldwasser is a 3-star analyst with an average return of 2.3% and a 53.8% success rate. Goldwasser covers the Services sector, focusing on stocks such as AmerisourceBergen Corporation, Walgreens Boots Alliance, and Quest Diagnostics Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Centene Corp with a $63.00 average price target, implying a 39.0% upside from current levels. In a report issued on September 11, Deutsche Bank also initiated coverage with a Buy rating on the stock with a $62.00 price target.
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Centene Corp’s market cap is currently $18.75B and has a P/E ratio of 14.90. The company has a Price to Book ratio of 1.54.
Based on the recent corporate insider activity of 88 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.
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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.
