JPMorgan Chase & Co. Boosts Centene (NYSE:CNC) Price Target to $45.00

Centene (NYSE:CNC) had its price target upped by equities researchers at JPMorgan Chase & Co. from $38.00 to $45.00 in a research note issued to investors on Thursday,MarketScreener reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential downside of 2.33% from the stock’s previous close.

Several other research analysts also recently weighed in on the stock. Sanford C. Bernstein reissued an “outperform” rating and issued a $59.00 target price on shares of Centene in a research note on Tuesday, January 6th. Jefferies Financial Group upped their price objective on shares of Centene from $25.00 to $32.00 in a research note on Monday, November 3rd. Mizuho set a $47.00 target price on shares of Centene in a research note on Friday, January 9th. TD Cowen reissued a “hold” rating on shares of Centene in a research note on Friday, October 31st. Finally, The Goldman Sachs Group reaffirmed a “sell” rating and issued a $38.00 price objective (up previously from $33.00) on shares of Centene in a research report on Thursday, October 30th. Three investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $40.81.

Centene Trading Up 1.4%

Shares of Centene stock opened at $46.07 on Thursday. Centene has a 1 year low of $25.08 and a 1 year high of $66.81. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.08 and a quick ratio of 1.08. The business has a 50 day moving average price of $41.15 and a 200 day moving average price of $35.08. The company has a market capitalization of $22.65 billion, a P/E ratio of -4.26, a P/E/G ratio of 1.03 and a beta of 0.48.

Centene (NYSE:CNC) last released its quarterly earnings results on Wednesday, October 29th. The company reported $0.50 earnings per share for the quarter, topping 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 quarter last year, the business posted $1.62 earnings per share. Centene’s revenue was up 18.2% compared to the same quarter last year. Sell-side analysts anticipate that Centene will post 6.86 EPS for the current fiscal year.

Institutional Investors Weigh In On Centene

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Baird Financial Group Inc. acquired a new position in shares of Centene in the 1st quarter valued at about $236,000. Sivia Capital Partners LLC lifted its position in Centene by 80.0% during the second quarter. Sivia Capital Partners LLC now owns 9,710 shares of the company’s stock valued at $527,000 after buying an additional 4,315 shares in the last quarter. Farther Finance Advisors LLC grew its stake in Centene by 5.1% during 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. Fifth Third Bancorp raised its stake in shares of Centene by 4.6% in the 2nd quarter. Fifth Third Bancorp now owns 60,307 shares of the company’s stock valued at $3,273,000 after acquiring an additional 2,625 shares during the period. Finally, Signaturefd LLC lifted its holdings in shares of Centene by 82.3% during the 2nd quarter. Signaturefd LLC now owns 12,427 shares of the company’s stock valued at $675,000 after acquiring an additional 5,611 shares in the last quarter. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Centene Company Profile

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.