Centene (NYSE:CNC) Price Target Raised to $45.00

by · The Cerbat Gem

Centene (NYSE:CNC – Free Report) had its price objective increased by JPMorgan Chase & Co. from $38.00 to $45.00 in a research note published on Thursday morning,MarketScreener reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other equities research analysts also recently commented on CNC. TD Cowen reiterated a “hold” rating on shares of Centene in a report on Friday, October 31st. UBS Group set a $42.00 target price on shares of Centene and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Deutsche Bank Aktiengesellschaft boosted their price target on Centene from $24.00 to $32.00 in a report on Friday, October 31st. Robert W. Baird raised their price objective on Centene from $28.00 to $36.00 and gave the stock a “neutral” rating in a report on Thursday, December 11th. Finally, Wells Fargo & Company set a $43.00 target price on Centene and gave the company an “equal weight” rating in a research note on Wednesday, January 7th. Three analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $40.81.

Read Our Latest Analysis on Centene

Centene Price Performance

Shares of NYSE:CNC opened at $46.07 on Thursday. Centene has a one year low of $25.08 and a one year high of $66.81. The stock has a market cap of $22.65 billion, a PE ratio of -4.26, a price-to-earnings-growth ratio of 1.05 and a beta of 0.48. The business’s fifty day moving average price is $41.15 and its two-hundred day moving average price is $35.10. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.08 and a current ratio of 1.08.

Centene (NYSE:CNC – Get Free Report) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.71. The business had revenue of $49.69 billion for the quarter, compared to the consensus estimate of $47.50 billion. Centene had a positive return on equity of 7.82% and a negative net margin of 2.85%.The business’s revenue was up 18.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.62 earnings per share. On average, analysts forecast that Centene will post 6.86 EPS for the current fiscal year.

Institutional Trading of Centene

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Addison Advisors LLC increased its holdings in Centene by 455.6% during the 3rd quarter. Addison Advisors LLC now owns 739 shares of the company’s stock worth $26,000 after purchasing an additional 606 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC bought a new position in Centene during the 3rd quarter worth approximately $27,000. GoalVest Advisory LLC acquired a new position in shares of Centene in the 4th quarter worth approximately $37,000. Union Bancaire Privee UBP SA acquired a new position in Centene in the fourth quarter worth $37,000. Finally, WPG Advisers LLC increased its stake in Centene by 44.5% during the third quarter. WPG Advisers LLC now owns 915 shares of the company’s stock valued at $33,000 after purchasing an additional 282 shares during the last quarter. 93.63% of the stock is owned by hedge funds and other institutional investors.

About Centene

(Get Free Report)

Centene Corporation (NYSE: CNC) is a diversified, multi-national healthcare enterprise that specializes in providing services to government-sponsored and national health programs. The company primarily acts as a managed care organization, delivering healthcare coverage and administering benefits for Medicaid, the Children’s Health Insurance Program (CHIP), Medicare Advantage, and individual marketplace plans. Centene also contracts with federal and state agencies to manage specialty care programs and community-based services for vulnerable populations.

Centene’s offerings extend beyond traditional insurance to include a range of specialty and support services.

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