Centene (NYSE:CNC) Given New $88.00 Price Target at Sanford C. Bernstein

Centene (NYSE:CNC) had its price target dropped by investment analysts at Sanford C. Bernstein from $96.00 to $88.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Sanford C. Bernstein’s price target indicates a potential upside of 42.51% from the stock’s previous close.

A number of other analysts also recently commented on CNC. Jefferies Financial Group downgraded shares of Centene from a “buy” rating to a “hold” rating and dropped their price target for the stock from $83.00 to $69.00 in a research report on Wednesday, July 24th. StockNews.com downgraded Centene from a “strong-buy” rating to a “buy” rating in a research report on Monday. TD Cowen lifted their price target on Centene from $80.00 to $89.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Robert W. Baird dropped their price objective on Centene from $83.00 to $66.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Finally, Stephens reissued an “equal weight” rating and issued a $78.00 price objective on shares of Centene in a research note on Monday, August 5th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $84.00.

Centene Stock Performance

Shares of CNC traded up $1.13 during midday trading on Wednesday, hitting $61.75. 4,701,496 shares of the stock traded hands, compared to its average volume of 3,832,666. Centene has a 1-year low of $59.77 and a 1-year high of $81.42. The firm has a market capitalization of $32.95 billion, a PE ratio of 12.30, a price-to-earnings-growth ratio of 0.98 and a beta of 0.48. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.17 and a current ratio of 1.17. The business’s 50 day moving average price is $72.20 and its two-hundred day moving average price is $72.17.

Hedge Funds Weigh In On Centene

A number of hedge funds have recently modified their holdings of the stock. EP Wealth Advisors LLC grew its holdings in shares of Centene by 1.0% in the 1st quarter. EP Wealth Advisors LLC now owns 13,604 shares of the company’s stock worth $1,068,000 after acquiring an additional 133 shares during the last quarter. WR Wealth Planners LLC grew its holdings in shares of Centene by 41.4% during the second quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock valued at $31,000 after buying an additional 137 shares in the last quarter. Whittier Trust Co. grew its holdings in shares of Centene by 10.0% during the second quarter. Whittier Trust Co. now owns 1,562 shares of the company’s stock valued at $104,000 after buying an additional 142 shares in the last quarter. Fidelis Capital Partners LLC grew its holdings in shares of Centene by 5.0% during the first quarter. Fidelis Capital Partners LLC now owns 3,316 shares of the company’s stock valued at $260,000 after buying an additional 158 shares in the last quarter. Finally, Mount Yale Investment Advisors LLC grew its holdings in shares of Centene by 2.1% during the third quarter. Mount Yale Investment Advisors LLC now owns 8,082 shares of the company’s stock valued at $608,000 after buying an additional 167 shares in the last quarter. 93.63% of the stock is currently owned by institutional investors and hedge funds.

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.