Sanford C. Bernstein Raises Centene (NYSE:CNC) Price Target to $108.00

Centene (NYSE:CNC) had its price target raised by Sanford C. Bernstein from $94.00 to $108.00 in a research note released on Tuesday, The Fly reports.

CNC has been the topic of several other reports. Truist Securities upped their price objective on shares of Centene from $94.00 to $96.00 and gave the company a buy rating in a report on Wednesday, January 5th. Truist Financial increased their price target on shares of Centene from $90.00 to $94.00 and gave the stock a buy rating in a report on Monday, December 13th. The Goldman Sachs Group began coverage on shares of Centene in a report on Tuesday, December 14th. They issued a neutral rating and a $83.00 price target on the stock. Barclays began coverage on shares of Centene in a report on Friday, January 7th. They issued an overweight rating and a $95.00 price target on the stock. Finally, Citigroup downgraded shares of Centene from a buy rating to a neutral rating and set a $77.00 price target on the stock. in a report on Monday, November 1st. Six equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, Centene currently has a consensus rating of Buy and an average target price of $89.43.

NYSE CNC opened at $80.55 on Tuesday. The company has a market cap of $47.00 billion, a PE ratio of 64.96, a price-to-earnings-growth ratio of 1.14 and a beta of 0.54. Centene has a 52 week low of $57.16 and a 52 week high of $85.44. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.70. The firm’s 50-day simple moving average is $77.83 and its two-hundred day simple moving average is $70.83.

Centene (NYSE:CNC) last released its quarterly earnings data on Monday, October 25th. The company reported $1.26 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.29 by ($0.03). The business had revenue of $32.41 billion for the quarter, compared to analysts’ expectations of $31.63 billion. Centene had a net margin of 0.60% and a return on equity of 10.33%. Centene’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period last year, the company earned $1.26 earnings per share. As a group, equities research analysts anticipate that Centene will post 5.12 EPS for the current year.

In other news, Director Orlando Ayala sold 7,586 shares of the stock in a transaction that occurred on Wednesday, December 15th. The stock was sold at an average price of $82.99, for a total transaction of $629,562.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark J. Brooks sold 8,296 shares of the stock in a transaction that occurred on Thursday, October 28th. The shares were sold at an average price of $70.17, for a total value of $582,130.32. The disclosure for this sale can be found here. Insiders have sold 127,419 shares of company stock worth $9,752,253 over the last quarter. Company insiders own 1.80% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Fifth Third Bancorp boosted its stake in shares of Centene by 6.0% during the third quarter. Fifth Third Bancorp now owns 21,473 shares of the company’s stock valued at $1,338,000 after purchasing an additional 1,206 shares during the period. Calamos Advisors LLC boosted its stake in shares of Centene by 9.7% during the third quarter. Calamos Advisors LLC now owns 137,189 shares of the company’s stock valued at $8,548,000 after purchasing an additional 12,091 shares during the period. Shay Capital LLC lifted its stake in Centene by 150.0% in the second quarter. Shay Capital LLC now owns 25,000 shares of the company’s stock worth $1,823,000 after acquiring an additional 15,000 shares during the period. HBK Investments L P purchased a new stake in Centene in the second quarter worth $269,000. Finally, Exencial Wealth Advisors LLC lifted its stake in Centene by 1.3% in the third quarter. Exencial Wealth Advisors LLC now owns 13,254 shares of the company’s stock worth $826,000 after acquiring an additional 169 shares during the period. 90.60% of the stock is owned by hedge funds and other institutional investors.

Centene Company Profile

Centene Corp. operates as a healthcare enterprise, which engages in the provision of programs and services to government sponsored healthcare programs. It operates through the following segments: Managed Care and Specialty Services. The Medicaid Managed Care segment provides health plan coverage to individuals through government subsidized programs through Medicaid.

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