Recent Analysts’ Ratings Changes for Centene (CNC)

Centene (NYSE: CNC) has recently received a number of price target changes and ratings updates:

• 4/8/2024 – Centene had its price target lowered by analysts at Wells Fargo & Company from $94.00 to $89.00. They now have an “overweight” rating on the stock.
• 4/4/2024 – Centene had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $90.00 price target on the stock.
• 3/28/2024 – Centene was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
• 3/21/2024 – Centene had its “equal weight” rating reaffirmed by analysts at Stephens. They now have a $85.00 price target on the stock, down previously from $92.00.
• 3/20/2024 – Centene had its price target raised by analysts at Wells Fargo & Company from $90.00 to $94.00. They now have an “overweight” rating on the stock.
• 3/6/2024 – Centene is now covered by analysts at Barclays PLC. They set an “overweight” rating and a $101.00 price target on the stock.

Centene Trading Down 0.6 %

NYSE:CNC opened at $72.25 on Thursday. Centene Co. has a 52 week low of $60.83 and a 52 week high of $81.42. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.68. The company has a fifty day moving average of $76.96 and a 200 day moving average of $74.45. The firm has a market capitalization of $38.65 billion, a P/E ratio of 14.71, a P/E/G ratio of 0.91 and a beta of 0.38.

Centene (NYSE:CNC) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.02. Centene had a return on equity of 14.26% and a net margin of 1.75%. The company had revenue of $39.46 billion for the quarter, compared to analysts’ expectations of $36.16 billion. During the same period in the prior year, the firm earned $0.86 earnings per share. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, research analysts predict that Centene Co. will post 6.75 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Lori Jean Robinson sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $77.41, for a total transaction of $774,100.00. Following the completion of the transaction, the director now owns 11,455 shares of the company’s stock, valued at approximately $886,731.55. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Lori Jean Robinson sold 10,000 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $77.41, for a total transaction of $774,100.00. Following the sale, the director now directly owns 11,455 shares of the company’s stock, valued at approximately $886,731.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Kenneth J. Fasola sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $75.07, for a total transaction of $900,840.00. Following the completion of the transaction, the president now owns 235,365 shares in the company, valued at approximately $17,668,850.55. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Operose Advisors LLC purchased a new position in shares of Centene in the third quarter worth approximately $25,000. Turtle Creek Wealth Advisors LLC bought a new position in Centene in the fourth quarter worth approximately $25,000. Rise Advisors LLC bought a new stake in shares of Centene during the 1st quarter valued at $25,000. Coppell Advisory Solutions Corp. purchased a new stake in shares of Centene in the 4th quarter worth $25,000. Finally, ST Germain D J Co. Inc. bought a new position in Centene in the 2nd quarter worth $26,000. 93.63% of the stock is owned by hedge funds and other institutional investors.

Centene Corporation operates as a healthcare enterprise that provides programs and services to under-insured and uninsured families, commercial organizations, and military families in the United States. The company operates through Medicaid, Medicare, Commercial, and Other segments. The Medicaid segment offers health plan coverage, including medicaid expansion, aged, blind, disabled, children's health insurance program, foster care, medicare-medicaid plans, long-term services and support.