J.P. Morgan Believes Centene (CNC) Won’t Stop Here

J.P. Morgan analyst Calvin Sternick maintained a Buy rating on Centene (CNCResearch Report) on July 27 and set a price target of $103.00. The company’s shares closed last Thursday at $92.35, close to its 52-week high of $94.58.

Sternick has an average return of 14.2% when recommending Centene.

According to, Sternick is ranked #4748 out of 7984 analysts.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Centene with a $102.23 average price target, representing a 10.2% upside. In a report released yesterday, Barclays also initiated coverage with a Buy rating on the stock with a $107.00 price target.

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Based on Centene’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $35.94 billion and GAAP net loss of $172 million. In comparison, last year the company earned revenue of $31.03 billion and had a GAAP net loss of $535 million.

Based on the recent corporate insider activity of 126 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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