Centene (NYSE:CNC) PT Lowered to $91.00

Centene (NYSE:CNC) had its price objective cut by research analysts at Wells Fargo & Company from $93.00 to $91.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 20.77% from the stock’s previous close.

Several other equities analysts have also recently commented on the stock. StockNews.com upgraded shares of Centene from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Baird R W raised Centene to a “hold” rating in a report on Thursday, May 30th. Jefferies Financial Group lowered Centene from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $83.00 to $69.00 in a report on Wednesday, July 24th. JPMorgan Chase & Co. cut their target price on Centene from $85.00 to $80.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Finally, Truist Financial lowered their price target on shares of Centene from $92.00 to $89.00 and set a “buy” rating on the stock in a report on Monday, July 15th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Centene presently has a consensus rating of “Moderate Buy” and an average target price of $85.58.

Centene Trading Up 0.7 %

Centene stock opened at $75.35 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.64. Centene has a 12 month low of $63.45 and a 12 month high of $81.42. The company’s fifty day simple moving average is $73.57 and its 200-day simple moving average is $73.56. The stock has a market cap of $39.64 billion, a P/E ratio of 14.98, a P/E/G ratio of 0.99 and a beta of 0.48.

Centene (NYSE:CNC) last posted its earnings results on Friday, July 26th. The company reported $2.42 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.02). The company had revenue of $39.84 billion for the quarter, compared to the consensus estimate of $36.83 billion. Centene had a net margin of 1.79% and a return on equity of 14.45%. Centene’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the business earned $2.10 earnings per share. As a group, sell-side analysts forecast that Centene will post 6.82 EPS for the current fiscal year.

Institutional Trading of Centene

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hohimer Wealth Management LLC boosted its stake in Centene by 1.1% during the fourth quarter. Hohimer Wealth Management LLC now owns 12,020 shares of the company’s stock worth $892,000 after acquiring an additional 131 shares in the last quarter. EP Wealth Advisors LLC increased its position in Centene by 1.0% in the 1st quarter. EP Wealth Advisors LLC now owns 13,604 shares of the company’s stock valued at $1,068,000 after buying an additional 133 shares in the last quarter. WR Wealth Planners LLC raised its stake in Centene by 41.4% during the 2nd quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock worth $31,000 after buying an additional 137 shares during the period. Whittier Trust Co. lifted its holdings in shares of Centene by 10.0% in the 2nd quarter. Whittier Trust Co. now owns 1,562 shares of the company’s stock worth $104,000 after purchasing an additional 142 shares in the last quarter. Finally, Fidelis Capital Partners LLC grew its position in Centene by 5.0% in the 1st quarter. Fidelis Capital Partners LLC now owns 3,316 shares of the company’s stock valued at $260,000 after purchasing an additional 158 shares during the period. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Centene Company Profile

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.