Centene (NYSE:CNC) Earns Overweight Rating from Cantor Fitzgerald

by · The Markets Daily

Centene (NYSE:CNC – Get Free Report)‘s stock had its “overweight” rating reaffirmed by research analysts at Cantor Fitzgerald in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $90.00 price objective on the stock. Cantor Fitzgerald’s target price suggests a potential upside of 23.92% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of Centene from $82.00 to $87.00 and gave the company a “hold” rating in a report on Friday, August 2nd. TD Cowen raised their target price on shares of Centene from $80.00 to $89.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Oppenheimer dropped their target price on shares of Centene from $110.00 to $95.00 and set an “outperform” rating for the company in a report on Monday, July 29th. Jefferies Financial Group downgraded shares of Centene from a “buy” rating to a “hold” rating and dropped their target price for the company from $83.00 to $69.00 in a report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Centene from $85.00 to $80.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $85.58.

View Our Latest Stock Analysis on CNC

Centene Stock Performance

Shares of CNC opened at $72.63 on Tuesday. The company has a 50-day simple moving average of $75.72 and a 200-day simple moving average of $73.32. 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 company has a market capitalization of $38.76 billion, a PE ratio of 14.44, a P/E/G ratio of 1.02 and a beta of 0.48. Centene has a 52-week low of $63.45 and a 52-week high of $81.42.

Centene (NYSE:CNC – Get Free Report) last announced its quarterly earnings results on Friday, July 26th. The company reported $2.42 earnings per share (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 analysts’ expectations of $36.83 billion. Centene had a net margin of 1.79% and a return on equity of 14.45%. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.10 EPS. Equities research analysts predict that Centene will post 6.8 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Centene

Several hedge funds have recently modified their holdings of CNC. Rise Advisors LLC acquired a new stake in shares of Centene in the first quarter worth approximately $25,000. WR Wealth Planners LLC boosted its position in shares of Centene by 41.4% in the second quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock worth $31,000 after acquiring an additional 137 shares during the last quarter. Chris Bulman Inc acquired a new stake in shares of Centene in the second quarter worth approximately $33,000. Riverview Trust Co boosted its position in shares of Centene by 154.6% in the second quarter. Riverview Trust Co now owns 527 shares of the company’s stock worth $35,000 after acquiring an additional 320 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Centene in the second quarter worth approximately $36,000. 93.63% of the stock is owned by institutional investors and hedge funds.

About Centene

(Get Free Report)

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.

Further Reading