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

Centene (NYSE:CNC) had its price objective hoisted by Wells Fargo & Company from $89.00 to $93.00 in a report issued on Monday morning, Benzinga reports. They currently have an overweight rating on the stock.

CNC has been the topic of a number of other reports. UBS Group boosted their price objective on shares of Centene from $72.00 to $79.00 and gave the company a neutral rating in a report on Thursday, December 21st. Barclays began 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. Stephens restated an equal weight rating and set a $85.00 target price (down from $92.00) on shares of Centene in a research report on Thursday, March 21st. Truist Financial boosted their target price on shares of Centene from $83.00 to $86.00 and gave the company a buy rating in a research report on Thursday, December 21st. Finally, Cantor Fitzgerald restated an overweight rating and set a $90.00 target price on shares of Centene in a research report on Thursday, April 4th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Centene currently has an average rating of Moderate Buy and a consensus price target of $85.38.

Centene Price Performance

NYSE CNC opened at $73.75 on Monday. The firm has a market capitalization of $39.45 billion, a P/E ratio of 15.02, a P/E/G ratio of 0.90 and a beta of 0.38. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.68. Centene has a 12-month low of $60.83 and a 12-month high of $81.42. The firm’s fifty day simple moving average is $76.60 and its two-hundred day simple moving average is $74.53.

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

Insiders Place Their Bets

In related news, Director Lori Jean Robinson sold 10,000 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 11,455 shares in the company, valued at approximately $886,731.55. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, President Kenneth J. Fasola sold 12,000 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $75.07, for a total transaction of $900,840.00. Following the completion of the transaction, the president now owns 235,365 shares in the company, valued at approximately $17,668,850.55. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Lori Jean Robinson sold 10,000 shares of the company’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $77.41, for a total transaction of $774,100.00. Following the transaction, the director now owns 11,455 shares of the company’s stock, valued at approximately $886,731.55. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Institutional Trading of Centene

Several large investors have recently bought and sold shares of CNC. Operose Advisors LLC purchased a new stake in Centene during the 3rd quarter valued at about $25,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Centene in the 4th quarter valued at approximately $25,000. Rise Advisors LLC purchased a new stake in shares of Centene in the 1st quarter valued at approximately $25,000. Coppell Advisory Solutions Corp. purchased a new stake in shares of Centene in the 4th quarter valued at approximately $25,000. Finally, ST Germain D J Co. Inc. purchased a new stake in shares of Centene in the 2nd quarter valued at approximately $26,000. Hedge funds and other institutional investors own 93.63% of the company’s stock.

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.