Barclays Upgrades Centene Corp to Overweight with Price Target $82.00

Brokerage firm Barclays Upgrades its rating on Centene Corp(NYSE:CNC). In a research note issued to the investors, the brokerage major Raises the price-target to $82.00 per share. The shares have been rated Overweight. Previously, the analysts had a Equal-weight rating on the shares. The rating by Barclays was issued on Jun 20, 2016.

In a different note, Bernstein said it Initiates Coverage on Centene Corp, according to a research note issued on Jun 16, 2016. The shares have been rated ‘Market Perform’ by the firm. On May 26, 2016, Stifel Nicolaus said it Upgrades its rating on Centene Corp. The shares have been rated ‘Buy’ by the firm. Cowen & Company said it Initiates Coverage on Centene Corp, according to a research note issued on Apr 25, 2016. The shares have been rated ‘Outperform’ by the firm.

Centene Corp (CNC) shares turned negative on Fridays trading session with the shares closing down -0.63 points or -0.90% at a volume of 29,79,576. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $70.12. The peak price level was also seen at $70.12 while the days lowest was $67. Finally the shares closed at $69.21. The 52-week high of the shares is $83 while the 52-week low is $47.36. According to the latest information available, the market cap of the company is $11,798 M.

Centene Corp(CNC) last announced its earnings results on Apr 26, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $6.95B. Analysts had an estimated revenue of $7.32B. Earnings per share were $0.74. Analysts had estimated an EPS of $0.74.

Several Insider Transactions has been reported to the SEC. On Jun 8, 2016, Mark J Brooks (SVP, Chief Information Officer) sold 3,914 shares at $65.01 per share price.Also, On May 2, 2016, Jesse N Hunter (EVP, Products) sold 10,000 shares at $65.17 per share price.On Apr 4, 2016, Kenneth Rone Baldwin (EVP, Markets) sold 6,000 shares at $60.87 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.

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