Centene Corporation (NYSE:CNC) Given Consensus Recommendation of “Hold” by Analysts

Centene Corporation (NYSE:CNC) has received an average recommendation of “Hold” from the twenty brokerages that are presently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, fourteen have given a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $40.3750.

A number of research analysts have commented on the company. JPMorgan Chase & Co. upped their price target on Centene from $30.00 to $38.00 and gave the company a “neutral” rating in a research report on Tuesday, November 4th. TD Cowen upped their price target on shares of Centene from $30.00 to $34.00 and gave the company a “hold” rating in a research report on Friday, October 31st. Truist Financial raised their price objective on Centene from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Monday, January 5th. The Goldman Sachs Group restated a “sell” rating and issued a $38.00 price objective (up from $33.00) on shares of Centene in a research report on Thursday, October 30th. Finally, Wells Fargo & Company set a $43.00 price objective on shares of Centene and gave the company an “equal weight” rating in a report on Wednesday, January 7th.

Centene Stock Down 3.2%

Shares of CNC opened at $45.75 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.08 and a current ratio of 1.08. Centene has a 52 week low of $25.08 and a 52 week high of $66.81. The stock has a market capitalization of $22.49 billion, a price-to-earnings ratio of -4.23, a PEG ratio of 1.04 and a beta of 0.48. The stock has a fifty day moving average of $40.16 and a 200-day moving average of $34.66.

Centene (NYSE:CNC) last issued its earnings results on Wednesday, October 29th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of ($0.21) by $0.71. Centene had a positive return on equity of 7.82% and a negative net margin of 2.85%.The company had revenue of $49.69 billion during the quarter, compared to the consensus estimate of $47.50 billion. During the same period last year, the business posted $1.62 EPS. The firm’s revenue for the quarter was up 18.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Centene will post 6.86 earnings per share for the current fiscal year.

Institutional Trading of Centene

Several institutional investors and hedge funds have recently bought and sold shares of CNC. WPG Advisers LLC increased its holdings in Centene by 44.5% in the third quarter. WPG Advisers LLC now owns 915 shares of the company’s stock valued at $33,000 after buying an additional 282 shares in the last quarter. Grove Bank & Trust raised its holdings in Centene by 2.8% in the second quarter. Grove Bank & Trust now owns 11,632 shares of the company’s stock valued at $631,000 after buying an additional 313 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Centene by 5.1% in the second quarter. Farther Finance Advisors LLC now owns 6,658 shares of the company’s stock worth $361,000 after buying an additional 325 shares during the period. Fulton Bank N.A. raised its stake in shares of Centene by 5.7% during the second quarter. Fulton Bank N.A. now owns 6,155 shares of the company’s stock valued at $334,000 after purchasing an additional 331 shares during the period. Finally, Versant Capital Management Inc boosted its position in Centene by 11.6% in the 3rd quarter. Versant Capital Management Inc now owns 3,421 shares of the company’s stock valued at $122,000 after buying an additional 355 shares during the last quarter. 93.63% of the stock is currently owned by institutional investors and hedge funds.

About Centene

Centene Corporation (NYSE: CNC) is a diversified, multi-national healthcare enterprise that specializes in providing services to government-sponsored and national health programs. The company primarily acts as a managed care organization, delivering healthcare coverage and administering benefits for Medicaid, the Children’s Health Insurance Program (CHIP), Medicare Advantage, and individual marketplace plans. Centene also contracts with federal and state agencies to manage specialty care programs and community-based services for vulnerable populations.

Centene’s offerings extend beyond traditional insurance to include a range of specialty and support services.