Brokerages Set Centene Co. (NYSE:CNC) Target Price at $84.77

Centene Co. (NYSE:CNC) has received a consensus recommendation of “Hold” from the thirteen analysts that are presently covering the firm, MarketBeat.com reports. Seven equities research 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 covered the stock in the last year is $85.75.

A number of research firms recently issued reports on CNC. Truist Financial dropped their target price on shares of Centene from $92.00 to $89.00 and set a “buy” rating for the company in a research report on Monday, July 15th. 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 research 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 stock from $83.00 to $69.00 in a research report on Wednesday, July 24th. Cantor Fitzgerald reissued an “overweight” rating and set a $90.00 target price on shares of Centene in a research report on Monday, August 19th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Centene from $82.00 to $87.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd.

Institutional Trading of Centene

A number of hedge funds have recently made changes to their positions in CNC. Rise Advisors LLC acquired a new stake in shares of Centene during the first quarter worth approximately $25,000. WR Wealth Planners LLC grew its position in shares of Centene by 41.4% during the second quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock worth $31,000 after buying an additional 137 shares in the last quarter. Chris Bulman Inc bought a new position in Centene during the second quarter worth $33,000. Riverview Trust Co lifted its stake in Centene by 154.6% during the second quarter. Riverview Trust Co now owns 527 shares of the company’s stock worth $35,000 after purchasing an additional 320 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in Centene during the second quarter worth $36,000. Institutional investors and hedge funds own 93.63% of the company’s stock.

Centene Trading Up 0.0 %

Shares of CNC stock opened at $70.84 on Thursday. The firm has a market cap of $37.26 billion, a P/E ratio of 14.08, a PEG ratio of 0.95 and a beta of 0.48. Centene has a 1-year low of $63.45 and a 1-year high of $81.42. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.17 and a quick ratio of 1.17. The firm’s 50-day simple moving average is $73.00 and its 200-day simple moving average is $73.70.

Centene (NYSE:CNC) last announced its quarterly earnings data on Friday, July 26th. The company reported $2.42 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.02). The company had revenue of $39.84 billion for the quarter, compared to analysts’ expectations of $36.83 billion. Centene had a return on equity of 14.45% and a net margin of 1.79%. The company’s revenue was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.10 earnings per share. As a group, equities analysts forecast that Centene will post 6.83 EPS for the current year.

About Centene

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.