Centene (NYSE:CNC) Upgraded by Wall Street Zen to Strong-Buy Rating

Centene (NYSE:CNC) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Saturday.

Several other equities research analysts have also recently issued reports on the company. Cantor Fitzgerald raised their target price on Centene from $60.00 to $75.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. Wells Fargo & Company set a $69.00 price target on Centene and gave the company an “equal weight” rating in a research note on Monday. Mizuho set a $63.00 price target on Centene and gave the stock a “neutral” rating in a report on Monday, June 8th. Jefferies Financial Group boosted their price objective on shares of Centene from $39.00 to $48.00 and gave the company a “hold” rating in a report on Wednesday, April 29th. Finally, TD Cowen reaffirmed a “hold” rating and issued a $65.00 target price (up from $47.00) on shares of Centene in a research report on Tuesday. Seven equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Centene currently has a consensus rating of “Hold” and an average price target of $64.61.

Centene Price Performance

Shares of CNC stock opened at $66.29 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.12 and a quick ratio of 1.12. The firm’s 50-day moving average is $62.76 and its two-hundred day moving average is $48.85. Centene has a 12 month low of $25.08 and a 12 month high of $69.36. The company has a market capitalization of $32.73 billion, a PE ratio of -5.04, a price-to-earnings-growth ratio of 0.50 and a beta of 1.07.

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

Hedge Funds Weigh In On Centene

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

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.