Centene Corporation (NYSE:CNC) Receives $62.50 Average PT from Analysts

Shares of Centene Corporation (NYSE:CNC) have been assigned an average recommendation of “Hold” from the twenty brokerages that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $64.6111.

A number of research firms have recently weighed in on CNC. The Goldman Sachs Group reiterated a “sell” rating and issued a $40.00 price target on shares of Centene in a research report on Wednesday, April 29th. Truist Financial increased their price target on Centene from $71.00 to $78.00 and gave the stock a “buy” rating in a research report on Tuesday. Raymond James Financial set a $75.00 price objective on Centene in a report on Tuesday, July 7th. Mizuho set a $63.00 target price on Centene and gave the company a “neutral” rating in a research report on Monday, June 8th. Finally, UBS Group restated a “neutral” rating and issued a $61.00 price target (up from $55.00) on shares of Centene in a research report on Friday, May 22nd.

Hedge Funds Weigh In On Centene

Several hedge funds have recently bought and sold shares of CNC. 180 Wealth Advisors LLC lifted its holdings in shares of Centene by 3.1% during the 1st quarter. 180 Wealth Advisors LLC now owns 6,683 shares of the company’s stock worth $219,000 after acquiring an additional 199 shares during the period. Summitry LLC increased its stake in Centene by 1.1% in the first quarter. Summitry LLC now owns 23,925 shares of the company’s stock valued at $783,000 after acquiring an additional 253 shares during the last quarter. GAMMA Investing LLC raised its position in Centene by 2.4% during the second quarter. GAMMA Investing LLC now owns 10,674 shares of the company’s stock valued at $685,000 after purchasing an additional 253 shares in the last quarter. Kestra Advisory Services LLC lifted its stake in Centene by 0.5% during the fourth 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 during the last quarter. Finally, CX Institutional boosted its holdings in shares of Centene by 3.1% in the 2nd quarter. CX Institutional now owns 8,999 shares of the company’s stock valued at $578,000 after purchasing an additional 269 shares in the last quarter. 93.63% of the stock is owned by institutional investors.

Centene Trading Down 4.2%

CNC stock opened at $63.84 on Friday. Centene has a 52 week low of $25.08 and a 52 week high of $69.36. The company has a market capitalization of $31.53 billion, a PE ratio of -4.86, a price-to-earnings-growth ratio of 0.52 and a beta of 1.07. The company’s 50-day simple moving average is $62.55 and its 200 day simple moving average is $48.72. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.12 and a current ratio of 1.12.

Centene (NYSE:CNC) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $3.37 earnings per share for the quarter, topping 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 was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.90 EPS. As a group, sell-side analysts anticipate that Centene will post 3.44 earnings per share for the current year.

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.