Centene (NYSE:CNC) PT Lowered to $66.00 at Robert W. Baird

Centene (NYSE:CNC) had its price objective lowered by Robert W. Baird from $83.00 to $66.00 in a research note released on Friday, Benzinga reports. Robert W. Baird currently has a neutral rating on the stock.

CNC has been the subject of several other reports. TD Cowen increased their target price on Centene from $80.00 to $89.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Truist Financial dropped their price target on shares of Centene from $92.00 to $89.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Jefferies Financial Group downgraded Centene from a “buy” rating to a “hold” rating and decreased their price objective for the company from $83.00 to $69.00 in a report on Wednesday, July 24th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $90.00 price target on shares of Centene in a research report on Tuesday, October 1st. Finally, Barclays cut their price objective on Centene from $98.00 to $97.00 and set an “overweight” rating on the stock in a research note on Thursday, September 5th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $84.17.

Centene Stock Up 4.2 %

NYSE CNC opened at $64.22 on Friday. Centene has a fifty-two week low of $59.77 and a fifty-two week high of $81.42. The business has a fifty day moving average price of $73.16 and a two-hundred day moving average price of $72.37. 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 stock has a market capitalization of $34.27 billion, a PE ratio of 12.77, a PEG ratio of 0.98 and a beta of 0.48.

Centene (NYSE:CNC) last released its quarterly earnings data on Friday, October 25th. The company reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.23. Centene had a net margin of 1.79% and a return on equity of 14.45%. The business had revenue of $42.02 billion during the quarter, compared to analysts’ expectations of $37.91 billion. Equities analysts expect that Centene will post 6.8 earnings per share for the current fiscal year.

Institutional Trading of Centene

Several institutional investors and hedge funds have recently made changes to their positions in the company. Swedbank AB bought a new stake in Centene in the 1st quarter worth about $914,080,000. Boston Partners grew its holdings in shares of Centene by 0.4% in the first quarter. Boston Partners now owns 8,652,177 shares of the company’s stock valued at $678,033,000 after acquiring an additional 32,427 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Centene by 0.5% during 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 acquiring an additional 25,595 shares during the period. Capital International Investors boosted its position in Centene by 60.2% in the first quarter. Capital International Investors now owns 5,216,486 shares of the company’s stock worth $409,390,000 after purchasing an additional 1,959,460 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in Centene by 14.2% in the 2nd quarter. Legal & General Group Plc now owns 5,113,759 shares of the company’s stock valued at $339,042,000 after purchasing an additional 636,683 shares during the period. Hedge funds and other institutional investors own 93.63% of the company’s stock.

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.