Centene (CNC) – Analysts’ Recent Ratings Updates

Several brokerages have updated their recommendations and price targets on shares of Centene (NYSE: CNC) in the last few weeks:

• 7/29/2024 – Centene was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
• 7/29/2024 – Centene had its price target lowered by analysts at Oppenheimer Holdings Inc. from $110.00 to $95.00. They now have an “outperform” rating on the stock.
• 7/24/2024 – Centene was downgraded by analysts at Jefferies Financial Group Inc. from a “buy” rating to a “hold” rating. They now have a $69.00 price target on the stock, down previously from $83.00.
• 7/24/2024 – Centene had its price target lowered by analysts at TD Cowen from $91.00 to $80.00. They now have a “buy” rating on the stock.
• 7/23/2024 – Centene had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $90.00 price target on the stock.
• 7/22/2024 – Centene had its price target lowered by analysts at Wells Fargo & Company from $93.00 to $81.00. They now have an “overweight” rating on the stock.
• 7/18/2024 – Centene was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
• 7/15/2024 – Centene had its price target lowered by analysts at Truist Financial Co. from $92.00 to $89.00. They now have a “buy” rating on the stock.
• 7/11/2024 – Centene had its price target lowered by analysts at Jefferies Financial Group Inc. from $90.00 to $83.00. They now have a “buy” rating on the stock.
• 7/10/2024 – Centene was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
• 7/10/2024 – Centene had its price target lowered by analysts at JPMorgan Chase & Co. from $85.00 to $80.00. They now have a “neutral” rating on the stock.
• 6/29/2024 – Centene was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
• 6/21/2024 – Centene was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
• 6/21/2024 – Centene had its “outperform” rating reaffirmed by analysts at Oppenheimer Holdings Inc.. They now have a $110.00 price target on the stock.
• 6/12/2024 – Centene had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $90.00 price target on the stock.
• 6/11/2024 – Centene was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
• 6/3/2024 – Centene was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.

Centene Stock Up 4.9 %

Shares of NYSE CNC traded up $3.62 during trading on Tuesday, hitting $77.10. The stock had a trading volume of 6,217,335 shares, compared to its average volume of 3,488,560. The firm has a fifty day moving average of $68.95 and a two-hundred day moving average of $73.66. The company has a market capitalization of $41.15 billion, a PE ratio of 15.33, a PEG ratio of 0.94 and a beta of 0.50. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.17 and a quick ratio of 1.17. Centene Co. has a 12 month low of $60.83 and a 12 month high of $81.42.

Centene (NYSE:CNC) last posted its earnings results on Friday, July 26th. The company reported $2.42 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.02). The firm had revenue of $39.84 billion for the quarter, compared to the consensus estimate of $36.83 billion. Centene had a return on equity of 14.45% and a net margin of 1.79%. Centene’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the business earned $2.10 EPS. As a group, equities research analysts forecast that Centene Co. will post 6.8 EPS for the current fiscal year.

Insider Activity

In related news, President Kenneth J. Fasola sold 8,000 shares of the firm’s stock in a transaction dated 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 owns 300,357 shares in the company, valued at $23,313,710.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Centene news, President Kenneth J. Fasola sold 8,000 shares of the business’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $77.62, for a total value of $620,960.00. Following the sale, the president now directly owns 300,357 shares in the company, valued at $23,313,710.34. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Christopher J. Coughlin sold 878 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 25,504 shares in the company, valued at approximately $1,957,432. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Centene

A number of large investors have recently made changes to their positions in the stock. Blue Trust Inc. increased its holdings in Centene by 7.2% during the 4th quarter. Blue Trust Inc. now owns 2,454 shares of the company’s stock worth $169,000 after acquiring an additional 164 shares during the period. Global Retirement Partners LLC raised its position in shares of Centene by 11.9% in the fourth quarter. Global Retirement Partners LLC now owns 1,908 shares of the company’s stock worth $150,000 after buying an additional 203 shares in the last quarter. Fifth Third Bancorp boosted its stake in Centene by 6.3% during the fourth quarter. Fifth Third Bancorp now owns 43,203 shares of the company’s stock valued at $3,206,000 after buying an additional 2,550 shares during the period. Ascent Wealth Partners LLC grew its position in Centene by 2.4% during the fourth quarter. Ascent Wealth Partners LLC now owns 28,176 shares of the company’s stock worth $2,091,000 after buying an additional 659 shares in the last quarter. Finally, Ballentine Partners LLC increased its stake in Centene by 18.1% in the 4th quarter. Ballentine Partners LLC now owns 6,366 shares of the company’s stock worth $472,000 after acquiring an additional 976 shares during the last quarter. 93.63% of the stock is owned by institutional investors.

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.