Centene Co. (NYSE:CNC) Receives $86.23 Average Price Target from Brokerages

Centene Co. (NYSE:CNC) has been given a consensus rating of “Hold” by the fourteen ratings firms that are currently covering the stock, MarketBeat.com reports. Eight investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $86.23.

Several research analysts have issued reports on the stock. Baird R W upgraded shares of Centene to a “hold” rating in a research report on Thursday, May 30th. Truist Financial cut their target price on Centene from $92.00 to $89.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 price target on shares of Centene in a research note on Wednesday, June 12th. Stephens reaffirmed an “equal weight” rating and set a $83.00 price objective on shares of Centene in a research note on Thursday, May 30th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Centene from $81.00 to $82.00 and gave the company a “hold” rating in a report on Tuesday, April 30th.

Insider Buying and Selling

In other news, Director Christopher J. Coughlin sold 878 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $76.75, for a total transaction of $67,386.50. Following the completion of the sale, the director now directly owns 25,504 shares of the company’s stock, valued at approximately $1,957,432. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Centene news, Director Christopher J. Coughlin sold 878 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $76.75, for a total value of $67,386.50. Following the completion of the sale, the director now directly owns 25,504 shares of the company’s stock, valued at $1,957,432. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Kenneth J. Fasola sold 8,000 shares of Centene stock in a transaction on Monday, May 13th. The shares were sold at an average price of $77.62, for a total transaction of $620,960.00. Following the completion of the sale, the president now directly owns 300,357 shares of the company’s stock, valued at approximately $23,313,710.34. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Centene

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hohimer Wealth Management LLC grew its holdings in Centene by 1.1% during the fourth quarter. Hohimer Wealth Management LLC now owns 12,020 shares of the company’s stock valued at $892,000 after purchasing an additional 131 shares during the last quarter. EP Wealth Advisors LLC grew its stake in Centene by 1.0% in the 1st quarter. EP Wealth Advisors LLC now owns 13,604 shares of the company’s stock valued at $1,068,000 after buying an additional 133 shares during the last quarter. Sandy Spring Bank boosted its holdings in Centene by 10.1% during the fourth quarter. Sandy Spring Bank now owns 1,629 shares of the company’s stock valued at $121,000 after acquiring an additional 150 shares during the period. Fidelis Capital Partners LLC grew its position in shares of Centene by 5.0% in the first quarter. Fidelis Capital Partners LLC now owns 3,316 shares of the company’s stock valued at $260,000 after purchasing an additional 158 shares during the last quarter. Finally, First Bank & Trust increased its stake in shares of Centene by 4.1% in the fourth quarter. First Bank & Trust now owns 4,154 shares of the company’s stock worth $308,000 after purchasing an additional 162 shares during the period. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Centene Stock Up 0.8 %

CNC opened at $66.24 on Wednesday. The stock’s fifty day moving average is $70.03 and its 200-day moving average is $74.05. Centene has a one year low of $60.83 and a one year high of $81.42. The company has a market capitalization of $35.35 billion, a PE ratio of 13.17, a P/E/G ratio of 0.86 and a beta of 0.50. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.17 and a current ratio of 1.17.

Centene (NYSE:CNC) last issued its quarterly earnings results on Friday, April 26th. The company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.09 by $0.17. The firm had revenue of $40.41 billion for the quarter, compared to analysts’ expectations of $36.43 billion. Centene had a net margin of 1.76% and a return on equity of 14.19%. Centene’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.11 earnings per share. On average, equities analysts predict that Centene will post 6.8 EPS for the current fiscal year.

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.