Centene (NYSE:CNC) Price Target Raised to $71.00 at Royal Bank Of Canada

Centene (NYSE:CNC) had its price objective hoisted by Royal Bank Of Canada from $70.00 to $71.00 in a research report sent to investors on Thursday,Benzinga reports. The firm currently has a sector perform rating on the stock.

Several other research firms have also weighed in on CNC. Barclays restated an “overweight” rating on shares of Centene in a research note on Tuesday, June 16th. Mizuho set a $63.00 price target on Centene and gave the stock a “neutral” rating in a research report on Monday, June 8th. Jefferies Financial Group raised their price objective on Centene from $39.00 to $48.00 and gave the company a “hold” rating in a research report on Wednesday, April 29th. Truist Financial boosted their target price on Centene from $58.00 to $71.00 and gave the stock a “buy” rating in a report on Monday, June 1st. Finally, TD Cowen reaffirmed a “hold” rating and set a $47.00 price target (up from $38.00) on shares of Centene in a report on Monday, May 4th. Seven analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $62.50.

Centene Stock Up 0.6%

CNC stock opened at $67.47 on Thursday. The company has a market cap of $33.32 billion, a price-to-earnings ratio of -5.14, a P/E/G ratio of 0.53 and a beta of 1.07. Centene has a twelve month low of $25.08 and a twelve month high of $69.29. The business has a 50 day moving average price of $61.27 and a two-hundred day moving average price of $47.77. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.76.

Centene (NYSE:CNC) last released its quarterly earnings data on Tuesday, April 28th. The company reported $3.37 EPS for the quarter, beating the consensus estimate of $2.23 by $1.14. The company had revenue of $49.94 billion during the quarter, compared to the consensus estimate of $47.53 billion. Centene had a positive return on equity of 5.57% and a negative net margin of 3.25%.The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.90 EPS. Analysts anticipate that Centene will post 3.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. DV Equities LLC acquired a new stake in shares of Centene during the fourth quarter worth $26,000. IFC & Insurance Marketing Inc. acquired a new stake in Centene in the 4th quarter worth about $28,000. SBI Securities Co. Ltd. boosted its holdings in Centene by 118.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 749 shares of the company’s stock valued at $31,000 after purchasing an additional 406 shares during the period. Bayban acquired a new position in shares of Centene during the 4th quarter worth approximately $33,000. Finally, MV Capital Management Inc. bought a new position in shares of Centene during the fourth quarter worth approximately $34,000. 93.63% of the stock is 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.