Centene (NYSE:CNC) Price Target Cut to $91.00 by Analysts at Barclays

Centene (NYSE:CNC) had its target price cut by Barclays from $97.00 to $91.00 in a report issued on Tuesday, Benzinga reports. They currently have an overweight rating on the stock.

Other equities analysts have also recently issued reports about the stock. 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 research report on Wednesday, July 10th. Jefferies Financial Group lowered Centene from a “buy” rating to a “hold” rating and lowered their price objective for the company from $83.00 to $69.00 in a research note on Wednesday, July 24th. Wells Fargo & Company reduced their target price on Centene from $93.00 to $91.00 and set an “overweight” rating for the company in a research note on Friday, September 13th. TD Cowen upped their price target on shares of Centene from $80.00 to $89.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, StockNews.com downgraded shares of Centene from a “strong-buy” rating to a “buy” rating in a research report on Monday. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Centene currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.67.

Centene Trading Down 1.7 %

CNC opened at $60.63 on Tuesday. The firm has a market capitalization of $32.36 billion, a P/E ratio of 12.05, a P/E/G ratio of 0.98 and a beta of 0.48. The firm’s 50 day moving average is $72.20 and its 200-day moving average is $72.17. 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 52-week low of $59.77 and a 52-week high of $81.42.

Institutional Investors Weigh In On Centene

Several institutional investors and hedge funds have recently made changes to their positions in the company. Swedbank AB acquired a new stake in Centene in the first quarter worth $914,080,000. Boston Partners increased its position in Centene by 0.4% in the first quarter. Boston Partners now owns 8,652,177 shares of the company’s stock worth $678,033,000 after buying an additional 32,427 shares during the period. Bank of New York Mellon Corp increased its position in Centene by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 5,491,968 shares of the company’s stock worth $364,117,000 after buying an additional 25,595 shares during the period. Capital International Investors increased its position in Centene by 60.2% in the first quarter. Capital International Investors now owns 5,216,486 shares of the company’s stock worth $409,390,000 after buying an additional 1,959,460 shares during the period. Finally, Legal & General Group Plc increased its position in Centene by 14.2% in the second quarter. Legal & General Group Plc now owns 5,113,759 shares of the company’s stock worth $339,042,000 after buying an additional 636,683 shares during the period. 93.63% of the stock is 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.