Centene (NYSE:CNC) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Centene (NYSE:CNC) from a strong-buy rating to a buy rating in a research report released on Monday morning.

Several other equities research analysts also recently weighed in on CNC. Deutsche Bank Aktiengesellschaft upped their target price on Centene from $82.00 to $87.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. Barclays dropped their price objective on shares of Centene from $98.00 to $97.00 and set an “overweight” rating on the stock in a research note on Thursday, September 5th. Stephens restated an “equal weight” rating and issued a $78.00 target price on shares of Centene in a research note on Monday, August 5th. JPMorgan Chase & Co. dropped their price target on shares of Centene from $85.00 to $80.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Finally, Oppenheimer cut their price objective on shares of Centene from $110.00 to $95.00 and set an “outperform” rating on the stock in a report on Monday, July 29th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Centene currently has an average rating of “Moderate Buy” and an average target price of $84.00.

Centene Stock Up 0.8 %

Shares of Centene stock opened at $62.26 on Monday. The company has a fifty day moving average price of $71.55 and a 200 day moving average price of $72.02. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.64. Centene has a twelve month low of $59.77 and a twelve month high of $81.42. The stock has a market cap of $32.75 billion, a price-to-earnings ratio of 10.81, a price-to-earnings-growth ratio of 0.98 and a beta of 0.48.

Hedge Funds Weigh In On Centene

Hedge funds have recently bought and sold shares of the company. Park Place Capital Corp raised its stake in Centene by 1,190.0% during the third quarter. Park Place Capital Corp now owns 387 shares of the company’s stock valued at $29,000 after buying an additional 357 shares in the last quarter. WR Wealth Planners LLC raised its position in shares of Centene by 41.4% during the 2nd quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock valued at $31,000 after acquiring an additional 137 shares in the last quarter. Chris Bulman Inc acquired a new position in Centene in the second quarter worth $33,000. Riverview Trust Co increased its stake in Centene by 154.6% during the second quarter. Riverview Trust Co now owns 527 shares of the company’s stock valued at $35,000 after purchasing an additional 320 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Centene during the second quarter worth $36,000. 93.63% of the stock is currently owned by institutional investors and hedge funds.

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.