Centene (NYSE:CNC) Price Target Increased to $93.00 by Analysts at Wells Fargo & Company

Centene (NYSE:CNC) had its price target increased by Wells Fargo & Company from $89.00 to $93.00 in a research note published on Monday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other brokerages have also recently issued reports on CNC. Cantor Fitzgerald reiterated an overweight rating and set a $90.00 target price on shares of Centene in a research report on Thursday, April 4th. StockNews.com cut shares of Centene from a strong-buy rating to a buy rating in a research report on Thursday, March 28th. Stephens reiterated an equal weight rating and set a $85.00 target price (down previously from $92.00) on shares of Centene in a research report on Thursday, March 21st. Barclays assumed coverage on shares of Centene in a research report on Wednesday, March 6th. They set an overweight rating and a $101.00 target price for the company. Finally, Truist Financial increased their target price on shares of Centene from $83.00 to $86.00 and gave the stock a buy rating in a research report on Thursday, December 21st. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $85.38.

Centene Trading Up 2.8 %

Shares of CNC stock opened at $72.72 on Monday. Centene has a 52-week low of $60.83 and a 52-week high of $81.42. The stock has a market cap of $38.90 billion, a price-to-earnings ratio of 14.81, a P/E/G ratio of 0.88 and a beta of 0.38. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a fifty day moving average of $76.77 and a 200-day moving average of $74.52.

Centene (NYSE:CNC) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. Centene had a net margin of 1.75% and a return on equity of 14.26%. The company had revenue of $39.46 billion during the quarter, compared to analysts’ expectations of $36.16 billion. During the same quarter in the prior year, the company posted $0.86 EPS. The business’s revenue was up 11.0% on a year-over-year basis. On average, equities research analysts forecast that Centene will post 6.75 earnings per share for the current fiscal year.

Insider Activity

In other news, President Kenneth J. Fasola sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $75.07, for a total value of $900,840.00. Following the transaction, the president now owns 235,365 shares of the company’s stock, valued at approximately $17,668,850.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, President Kenneth J. Fasola sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $75.07, for a total value of $900,840.00. Following the transaction, the president now owns 235,365 shares of the company’s stock, valued at approximately $17,668,850.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lori Jean Robinson sold 10,000 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $77.41, for a total transaction of $774,100.00. Following the completion of the sale, the director now owns 11,455 shares in the company, valued at $886,731.55. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

Institutional Trading of Centene

Hedge funds have recently modified their holdings of the company. Coppell Advisory Solutions Corp. acquired a new stake in shares of Centene in the 4th quarter valued at approximately $25,000. Rise Advisors LLC acquired a new stake in Centene during the 1st quarter worth approximately $25,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Centene during the 4th quarter worth approximately $25,000. Operose Advisors LLC acquired a new stake in Centene during the 3rd quarter worth approximately $25,000. Finally, ST Germain D J Co. Inc. acquired a new stake in Centene during the 2nd quarter worth approximately $26,000. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Centene Company Profile

Centene Corporation operates as a healthcare enterprise that provides programs and services to under-insured and uninsured families, commercial organizations, and military families in the United States. The company operates through Medicaid, Medicare, Commercial, and Other segments. The Medicaid segment offers health plan coverage, including medicaid expansion, aged, blind, disabled, children's health insurance program, foster care, medicare-medicaid plans, long-term services and support.