Revenue Update on Centene Corp(NYSE:CNC)

Centene Corp(NYSE:CNC) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 26, 2016. Company reported revenue of $10.90B. Analysts estimated a revenue of $10.78B. Earnings per share were $1.29. Analysts had estimated an EPS of $1.08.

In a different note, On Jun 29, 2016, Morgan Stanley said it Upgrades its rating on Centene Corp. In the research note, the firm Raises the price-target to $84.00 per share. The shares have been rated ‘Overweight’ by the firm. On Jun 20, 2016, Barclays said it Upgrades its rating on Centene Corp. In the research note, the firm Raises the price-target to $76.00 per share. The shares have been rated ‘Overweight’ by the firm. 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.

Centene Corp (CNC) made into the market gainers list on Fridays trading session with the shares advancing 0.84% or 0.59 points. Due to strong positive momentum, the stock ended at $70.55, which is also near the day’s high of $70.81. The stock began the session at $69.37 and the volume stood at 17,60,639 shares. The 52-week high of the shares is $75.57 and the 52 week low is $47.36. The company has a current market capitalization of $12,045 M and it has 17,07,36,890 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Jul 5, 2016, Kenneth Rone Baldwin (EVP, Markets) sold 6,000 shares at $71.00 per share price.Also, 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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *