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Centene (CNC) Receives a Buy from Morgan Stanley

Morgan Stanley analyst Michael Ha maintained a Buy rating on Centene (CNCResearch Report) today and set a price target of $103.00. The company’s shares closed last Thursday at $83.32.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Centene with a $97.30 average price target, which is a 18.2% upside from current levels. In a report issued on June 16, Loop Capital Markets also initiated coverage with a Buy rating on the stock with a $100.00 price target.

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Based on Centene’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $37.19 billion and net profit of $849 million. In comparison, last year the company earned revenue of $29.98 billion and had a net profit of $699 million.

Based on the recent corporate insider activity of 124 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 Corporation is a diversified healthcare company that primarily engages in providing programs and services to the government sponsored healthcare programs. The company is also engaged in providing education and outreach programs to assist members in accessing quality and appropriate healthcare services.

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