Centene’s (CNC) “Overweight” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Centene (NYSE:CNC) in a research note released on Friday morning, Benzinga reports. The firm currently has a $90.00 target price on the stock.

CNC has been the topic of a number of other reports. Stephens reiterated an equal weight rating and issued a $78.00 target price on shares of Centene in a report on Monday, August 5th. Oppenheimer decreased 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. TD Cowen raised their price target on shares of Centene from $80.00 to $89.00 and gave the company a buy rating in a research report on Wednesday, July 31st. Truist Financial decreased their price objective on Centene from $92.00 to $89.00 and set a buy rating for the company in a report on Monday, July 15th. Finally, StockNews.com raised Centene from a buy rating to a strong-buy rating in a research report on Monday, July 29th. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $85.58.

Centene Stock Down 0.0 %

Centene stock opened at $75.61 on Friday. 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 $40.35 billion, a PE ratio of 15.03, a PEG ratio of 0.99 and a beta of 0.48. The firm’s fifty day moving average is $74.48 and its 200 day moving average is $73.46. Centene has a 12-month low of $63.45 and a 12-month high of $81.42.

Centene (NYSE:CNC) last released its quarterly earnings data 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 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 revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period last year, the company earned $2.10 EPS. As a group, sell-side analysts predict that Centene will post 6.82 EPS for the current fiscal year.

Institutional Investors Weigh In On Centene

Hedge funds have recently made changes to their positions in the business. Swedbank AB purchased a new position in Centene in the first quarter valued at about $914,080,000. Harris Associates L P raised its holdings in shares of Centene by 172.8% in the 4th quarter. Harris Associates L P now owns 10,863,367 shares of the company’s stock worth $806,170,000 after purchasing an additional 6,881,450 shares during the period. Boston Partners grew its holdings in Centene by 0.4% during the first quarter. Boston Partners now owns 8,652,177 shares of the company’s stock valued at $678,033,000 after purchasing an additional 32,427 shares during the period. Bank of New York Mellon Corp increased its position in Centene by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 5,491,968 shares of the company’s stock worth $364,117,000 after buying an additional 25,595 shares during the last quarter. Finally, Capital International Investors lifted its position in shares of Centene by 60.2% during the 1st quarter. Capital International Investors now owns 5,216,486 shares of the company’s stock valued at $409,390,000 after buying an additional 1,959,460 shares during the last quarter. 93.63% of the stock is currently owned by institutional investors.

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.