JPMorgan Chase & Co. Lowers Centene (NYSE:CNC) Price Target to $41.00

Centene (NYSE:CNC) had its price target dropped by analysts at JPMorgan Chase & Co. from $45.00 to $41.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 19.31% from the stock’s current price.

A number of other research firms have also issued reports on CNC. Truist Financial lifted their target price on Centene from $47.00 to $49.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $41.00 price target on shares of Centene in a research report on Monday, February 9th. Mizuho set a $41.00 price objective on Centene and gave the company a “neutral” rating in a research note on Tuesday, March 10th. Robert W. Baird boosted their price objective on Centene from $28.00 to $36.00 and gave the stock a “neutral” rating in a research report on Thursday, December 11th. Finally, TD Cowen raised their target price on shares of Centene from $34.00 to $38.00 and gave the company a “hold” rating in a report on Wednesday, February 11th. Three analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $41.81.

Centene Trading Down 3.4%

NYSE CNC opened at $34.36 on Thursday. Centene has a one year low of $25.08 and a one year high of $66.03. The firm has a 50 day simple moving average of $41.74 and a 200-day simple moving average of $38.55. The firm has a market cap of $16.90 billion, a price-to-earnings ratio of -2.52, a PEG ratio of 0.79 and a beta of 0.48. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.10 and a current ratio of 1.10.

Centene (NYSE:CNC) last released its earnings results on Friday, February 6th. The company reported ($1.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.03. The company had revenue of $49.73 billion for the quarter, compared to analyst estimates of $48.41 billion. Centene had a negative net margin of 3.43% and a positive return on equity of 4.25%. The firm’s quarterly revenue was up 21.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.80 EPS. Centene has set its FY 2026 guidance at 3.000-3.000 EPS. Equities research analysts anticipate that Centene will post 6.86 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CNC. Kestra Advisory Services LLC increased its position in shares of Centene by 0.5% during the 4th quarter. Kestra Advisory Services LLC now owns 52,602 shares of the company’s stock worth $2,165,000 after purchasing an additional 264 shares in the last quarter. WPG Advisers LLC boosted its position 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. Arkadios Wealth Advisors grew its stake in Centene by 4.2% during the fourth quarter. Arkadios Wealth Advisors now owns 7,465 shares of the company’s stock worth $307,000 after buying an additional 300 shares during the last quarter. Affinity Investment Advisors LLC increased its holdings in shares of Centene by 3.0% during the fourth quarter. Affinity Investment Advisors LLC now owns 10,927 shares of the company’s stock worth $450,000 after buying an additional 316 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC raised its stake in shares of Centene by 5.7% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 5,975 shares of the company’s stock valued at $246,000 after acquiring an additional 324 shares during the last quarter. Institutional investors and hedge funds own 93.63% of the company’s stock.

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.