Wall Street Zen Downgrades Centene (NYSE:CNC) to Hold

Centene (NYSE:CNC) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Sunday.

CNC has been the subject of a number of other research reports. Argus raised shares of Centene to a “hold” rating in a research note on Monday, February 9th. TD Cowen raised their price objective on Centene from $34.00 to $38.00 and gave the company a “hold” rating in a report on Wednesday. Wells Fargo & Company set a $43.00 target price on shares of Centene and gave the stock an “equal weight” rating in a report on Wednesday, January 7th. JPMorgan Chase & Co. upped their price objective on shares of Centene from $38.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, January 22nd. Finally, The Goldman Sachs Group restated a “sell” rating and set a $38.00 target price (up from $33.00) on shares of Centene in a report on Thursday, October 30th. Three equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Centene has an average rating of “Hold” and an average price target of $41.81.

Centene Stock Up 3.4%

Shares of CNC opened at $40.53 on Friday. The stock’s 50-day moving average price is $42.13 and its 200-day moving average price is $36.37. The company has a quick ratio of 1.08, a current ratio of 1.10 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $19.92 billion, a price-to-earnings ratio of -2.98, a PEG ratio of 0.90 and a beta of 0.48. Centene has a 52 week low of $25.08 and a 52 week high of $66.03.

Centene (NYSE:CNC) last issued its quarterly earnings data on Friday, February 6th. The company reported ($1.19) EPS for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.03. The business had revenue of $49.73 billion for the quarter, compared to analysts’ expectations of $48.41 billion. Centene had a negative net margin of 3.43% and a positive return on equity of 4.25%. The business’s revenue was up 21.9% on a year-over-year basis. During the same quarter last year, the company earned $0.80 EPS. Centene has set its FY 2026 guidance at 3.000-3.000 EPS. On average, sell-side analysts predict that Centene will post 6.86 EPS for the current year.

Institutional Investors Weigh In On Centene

Large investors have recently modified their holdings of the company. Addison Advisors LLC increased its holdings in shares of Centene by 455.6% in the 3rd quarter. Addison Advisors LLC now owns 739 shares of the company’s stock valued at $26,000 after acquiring an additional 606 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of Centene during the 3rd quarter valued at approximately $27,000. IFC & Insurance Marketing Inc. purchased a new position in Centene during the 4th quarter valued at about $28,000. SBI Securities Co. Ltd. boosted its stake in shares of Centene by 118.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 749 shares of the company’s stock valued at $31,000 after acquiring an additional 406 shares during the last quarter. Finally, WPG Advisers LLC boosted its holdings in shares of Centene by 44.5% during the third quarter. WPG Advisers LLC now owns 915 shares of the company’s stock worth $33,000 after purchasing an additional 282 shares during the last quarter. 93.63% of the stock is owned by hedge funds and other institutional investors.

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.