Robert W. Baird Lowers Centene (NYSE:CNC) Price Target to $66.00

Centene (NYSE:CNC) had its price target lowered by Robert W. Baird from $83.00 to $66.00 in a research note published on Friday, Benzinga reports. Robert W. Baird currently has a neutral rating on the stock.

Other equities research analysts also recently issued research reports about the company. Truist Financial lowered their price target on Centene from $92.00 to $89.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. TD Cowen raised their price target on Centene from $80.00 to $89.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. StockNews.com upgraded Centene from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 15th. Jefferies Financial Group downgraded Centene from a “buy” rating to a “hold” rating and lowered their price target for the company from $83.00 to $69.00 in a research report on Wednesday, July 24th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $90.00 price objective on shares of Centene in a report on Tuesday, October 1st. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Centene presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.17.

Centene Trading Down 4.0 %

Shares of CNC stock opened at $61.66 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.17 and a current ratio of 1.17. Centene has a 52-week low of $59.77 and a 52-week high of $81.42. The company has a market capitalization of $32.91 billion, a PE ratio of 12.26, a price-to-earnings-growth ratio of 0.98 and a beta of 0.48. The business’s fifty day moving average is $72.55 and its 200 day moving average is $72.24.

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

Institutional Trading of Centene

Hedge funds have recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Centene by 18.7% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 624,944 shares of the company’s stock worth $49,046,000 after purchasing an additional 98,298 shares in the last quarter. GSA Capital Partners LLP boosted its position in shares of Centene by 435.0% in the 1st quarter. GSA Capital Partners LLP now owns 20,052 shares of the company’s stock worth $1,574,000 after purchasing an additional 16,304 shares in the last quarter. Diversified Trust Co raised its holdings in Centene by 35.8% in the 2nd quarter. Diversified Trust Co now owns 28,009 shares of the company’s stock worth $1,857,000 after acquiring an additional 7,385 shares during the last quarter. Bessemer Group Inc. raised its holdings in Centene by 189.6% in the 1st quarter. Bessemer Group Inc. now owns 24,162 shares of the company’s stock worth $1,895,000 after acquiring an additional 15,819 shares during the last quarter. Finally, Comerica Bank raised its holdings in Centene by 7.3% in the 1st quarter. Comerica Bank now owns 118,597 shares of the company’s stock worth $9,307,000 after acquiring an additional 8,103 shares during the last quarter. 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.