Wells Fargo & Company Lowers Centene (NYSE:CNC) Price Target to $90.00

Centene (NYSE:CNC) had its target price trimmed by Wells Fargo & Company from $91.00 to $90.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an overweight rating on the stock.

Other equities research analysts have also recently issued reports about the stock. StockNews.com cut shares of Centene from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 28th. Stephens restated an “equal weight” rating and set a $78.00 price target on shares of Centene in a research report on Monday, August 5th. Truist Financial lowered their price objective on shares of Centene from $92.00 to $89.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Cantor Fitzgerald restated an “overweight” rating and issued a $90.00 target price on shares of Centene in a research report on Tuesday, October 1st. Finally, Sanford C. Bernstein lowered their price target on Centene from $96.00 to $88.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $83.92.

Centene Stock Performance

Shares of CNC stock opened at $62.56 on Monday. The business has a 50 day simple moving average of $70.40 and a 200 day simple moving average of $71.75. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a market capitalization of $31.58 billion, a price-to-earnings ratio of 10.86, a price-to-earnings-growth ratio of 0.87 and a beta of 0.49. Centene has a 12-month low of $59.77 and a 12-month high of $81.42.

Institutional Trading of Centene

Hedge funds have recently bought and sold shares of the company. EP Wealth Advisors LLC raised its holdings in shares of Centene by 1.0% during the first quarter. EP Wealth Advisors LLC now owns 13,604 shares of the company’s stock valued at $1,068,000 after acquiring an additional 133 shares during the period. WR Wealth Planners LLC grew its position 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 purchasing an additional 137 shares in the last quarter. Whittier Trust Co. raised its stake in Centene by 10.0% during the 2nd quarter. Whittier Trust Co. now owns 1,562 shares of the company’s stock valued at $104,000 after purchasing an additional 142 shares during the period. Mount Yale Investment Advisors LLC boosted its position in shares of Centene by 2.1% in the third quarter. Mount Yale Investment Advisors LLC now owns 8,082 shares of the company’s stock worth $608,000 after buying an additional 167 shares during the period. Finally, Bleakley Financial Group LLC grew its holdings in shares of Centene by 2.4% during the first quarter. Bleakley Financial Group LLC now owns 7,287 shares of the company’s stock valued at $572,000 after buying an additional 173 shares in the last quarter. 93.63% of the stock is owned by hedge funds and other institutional investors.

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.