Centene Co. (NYSE:CNC) Receives Average Rating of “Hold” from Brokerages

Shares of Centene Co. (NYSE:CNC) have been assigned a consensus recommendation of “Hold” from the thirteen research firms that are currently covering the stock, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $85.58.

CNC has been the subject of several recent research reports. Truist Financial decreased their target price on shares of Centene from $92.00 to $89.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Deutsche Bank Aktiengesellschaft raised their price objective on Centene from $82.00 to $87.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. TD Cowen upped their target price on Centene from $80.00 to $89.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 price target on shares of Centene in a research report on Friday, September 20th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Centene from $85.00 to $80.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th.

Institutional Trading of Centene

Several institutional investors have recently modified their holdings of CNC. Rise Advisors LLC bought a new stake in shares of Centene in the 1st quarter valued at approximately $25,000. WR Wealth Planners LLC raised its stake in Centene by 41.4% during the second quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock worth $31,000 after acquiring an additional 137 shares in the last quarter. Chris Bulman Inc bought a new position in shares of Centene during the second quarter valued at $33,000. Riverview Trust Co boosted its stake in shares of Centene by 154.6% in the 2nd quarter. Riverview Trust Co now owns 527 shares of the company’s stock valued at $35,000 after purchasing an additional 320 shares in the last quarter. Finally, Neo Ivy Capital Management acquired a new stake in shares of Centene during the 4th quarter worth about $40,000. Institutional investors and hedge funds own 93.63% of the company’s stock.

Centene Trading Up 1.2 %

Shares of NYSE:CNC opened at $74.58 on Monday. The firm has a fifty day moving average of $75.23 and a two-hundred day moving average of $73.36. 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 firm has a market capitalization of $39.80 billion, a P/E ratio of 14.83, a price-to-earnings-growth ratio of 1.02 and a beta of 0.48.

Centene (NYSE:CNC) last issued its earnings results on Friday, July 26th. The company reported $2.42 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.02). The firm had revenue of $39.84 billion during the quarter, compared to analysts’ expectations of $36.83 billion. Centene had a net margin of 1.79% and a return on equity of 14.45%. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.10 EPS. On average, equities analysts expect that Centene will post 6.8 EPS for the current fiscal year.

About Centene

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.