Centene (NYSE:CNC) Receives “Overweight” Rating from Cantor Fitzgerald

Centene (NYSE:CNC)‘s stock had its “overweight” rating reaffirmed by stock analysts at Cantor Fitzgerald in a research note issued on Tuesday, Benzinga reports. They presently have a $90.00 price target on the stock. Cantor Fitzgerald’s target price indicates a potential upside of 20.10% from the stock’s previous close.

A number of other analysts have also recently commented on the stock. Stephens restated an “equal weight” rating and issued a $78.00 price objective on shares of Centene in a research report on Monday, August 5th. Wells Fargo & Company dropped their price target on Centene from $93.00 to $91.00 and set an “overweight” rating on the stock in a research report on Friday, September 13th. TD Cowen boosted their price objective on Centene from $80.00 to $89.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Truist Financial dropped their target price 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. Finally, Jefferies Financial Group downgraded shares of Centene from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $83.00 to $69.00 in a research report on Wednesday, July 24th. Seven investment 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. Based on data from MarketBeat, Centene presently has an average rating of “Moderate Buy” and a consensus target price of $85.58.

Centene Trading Down 0.5 %

Shares of Centene stock traded down $0.34 during trading on Tuesday, reaching $74.94. 280,452 shares of the company were exchanged, compared to its average volume of 3,527,653. Centene has a twelve month low of $63.45 and a twelve month high of $81.42. The business has a 50-day moving average price of $75.41 and a 200-day moving average price of $73.33. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $39.99 billion, a price-to-earnings ratio of 14.90, a P/E/G ratio of 1.02 and a beta of 0.48.

Centene (NYSE:CNC) last announced its quarterly 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 company had revenue of $39.84 billion during 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%. The business’s revenue was up 5.9% compared to the same quarter last year. During the same period last year, the company earned $2.10 earnings per share. Sell-side analysts anticipate that Centene will post 6.8 EPS for the current fiscal year.

Institutional Investors Weigh In On Centene

Several institutional investors and hedge funds have recently added to or reduced their stakes in CNC. EP Wealth Advisors LLC raised its holdings in Centene by 1.0% during the first quarter. EP Wealth Advisors LLC now owns 13,604 shares of the company’s stock worth $1,068,000 after acquiring an additional 133 shares in the last quarter. WR Wealth Planners LLC increased its position 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 buying an additional 137 shares during the last quarter. Whittier Trust Co. raised its stake in Centene by 10.0% in the second quarter. Whittier Trust Co. now owns 1,562 shares of the company’s stock valued at $104,000 after buying an additional 142 shares during the period. Fidelis Capital Partners LLC increased its holdings in shares of Centene by 5.0% during the 1st quarter. Fidelis Capital Partners LLC now owns 3,316 shares of the company’s stock worth $260,000 after acquiring an additional 158 shares during the last quarter. Finally, UMB Bank n.a. raised its stake in Centene by 3.9% in the 1st quarter. UMB Bank n.a. now owns 4,543 shares of the company’s stock valued at $357,000 after acquiring an additional 172 shares during the period. 93.63% of the stock is owned by 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.