Centene Corp (CNC) is Upgraded by Stifel to Buy, Price Target at $75

Centene Corp (CNC) was Upgraded by Stifel to ” Buy” and the brokerage firm has set the Price Target at $75. Earlier the firm had a rating of “Hold ” on the company shares. Stifel advised their investors in a research report released on May 26, 2016.

On the company’s financial health, Centene Corp reported $0.74 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $0.70. The company had revenue of $6953.00 million for the quarter, compared to analysts expectations of $6715.96 million. The company’s revenue was up 35.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS.

Centene Corp opened for trading at $59.25 and hit $60.58 on the upside on Wednesday, eventually ending the session at $60.17, with a gain of 2.40% or 1.41 points. The heightened volatility saw the trading volume jump to 18,13,565 shares. Company has a market cap of $10,257 M.

In a different news, on May 2, 2016, Jesse N Hunter (EVP, Products) sold 10,000 shares at $65.17 per share price. According to the SEC, on Apr 4, 2016, Kenneth Rone Baldwin (EVP, Markets) sold 6,000 shares at $60.87 per share price. On Mar 24, 2016, Carol Goldman (Exec VP Chief Admin Officer) sold 15,000 shares at $62.96 per share price, according to the Form-4 filing with the securities and exchange commission.

Centene Corporation is a healthcare company. The Company provides programs and services to Government sponsored healthcare programs. It offers member-focused services by assisting in accessing care coordinating referrals to related health and social services and addressing member concerns and questions. It also provides education and outreach programs to inform and assist members in accessing healthcare services. The Company operates in two segments: Managed Care and Specialty Services. The 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 (LTC) Foster Care dual-eligible individuals (Duals) and the Supplemental Security Income Program also known as the Aged Blind or Disabled Program (ABD). The Specialty Services segment consists of the Company’s specialty companies offering auxiliary healthcare services and products.

Centene Corp

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