Centene Corp (CNC) Releases Earnings Results, Beats Expectations By $0.20 EPS

Centene Corp (CNC) reported quarterly earnings results on Tuesday, Jul-26-2016. The company said it had a profit of $1.29 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.20. Analysts had a consensus of $1.09. The company posted revenue of $10897.00 million in the period, compared to analysts expectations of $10806.33 million. The company’s revenue was up 97.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.72 EPS.

Many Wall Street Analysts have commented on Centene Corp. Centene Corp was Upgraded by Morgan Stanley to ” Overweight” on Jun 29, 2016. Company shares were Upgraded by Barclays on Jun 20, 2016 to ” Overweight”, Firm has raised the Price Target to $ 82 from a previous price target of $76 .Centene Corp was Initiated by Bernstein to “Mkt Perform” on Jun 16, 2016.

Centene Corp opened for trading at $71.99 and hit $72.83 on the upside on Wednesday, eventually ending the session at $72.45, with a gain of 0.92% or 0.66 points. The heightened volatility saw the trading volume jump to 8,87,585 shares. Company has a market cap of $12,351 M.

In a different news, on Jul 5, 2016, Kenneth Rone Baldwin (EVP, Markets) sold 6,000 shares at $71.00 per share price. According to the SEC, on Jun 30, 2016, Richard A Gephardt (director) sold 15,910 shares at $69.01 per share price. On Jun 27, 2016, Keith H Williamson (EVP, Secr. & General Counsel) sold 4,000 shares at $70.00 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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