Centene (NYSE:CNC) PT Lowered to $97.00 at Barclays

Centene (NYSE:CNC) had its target price decreased by Barclays from $98.00 to $97.00 in a research report released on Thursday morning, Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other brokerages also recently weighed in on CNC. TD Cowen raised their target price on Centene from $80.00 to $89.00 and gave the company a buy rating in a report on Wednesday, July 31st. Baird R W raised Centene to a hold rating in a report on Thursday, May 30th. Robert W. Baird assumed coverage on Centene in a report on Thursday, May 30th. They set a neutral rating and a $83.00 price objective on the stock. Wells Fargo & Company raised their price objective on Centene from $81.00 to $93.00 and gave the company an overweight rating in a report on Monday, August 5th. Finally, Truist Financial cut their price objective on Centene from $92.00 to $89.00 and set a buy rating on the stock in a report on Monday, July 15th. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Centene presently has an average rating of Moderate Buy and a consensus price target of $85.75.

Centene Price Performance

Centene stock opened at $70.83 on Thursday. The stock’s fifty day moving average price is $72.89 and its two-hundred day moving average price is $73.77. Centene has a one year low of $63.45 and a one year high of $81.42. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.17 and a quick ratio of 1.17. The firm has a market cap of $37.80 billion, a PE ratio of 14.08, a price-to-earnings-growth ratio of 1.06 and a beta of 0.48.

Centene (NYSE:CNC) last issued its earnings results on Friday, July 26th. The company reported $2.42 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.02). The business had revenue of $39.84 billion during the quarter, compared to analyst estimates of $36.83 billion. Centene had a net margin of 1.79% and a return on equity of 14.45%. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.10 EPS. As a group, research analysts expect that Centene will post 6.84 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CNC. Rise Advisors LLC bought a new position in shares of Centene in the 1st quarter worth about $25,000. WR Wealth Planners LLC increased its position in Centene by 41.4% in the 2nd quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock valued at $31,000 after buying an additional 137 shares in the last quarter. Chris Bulman Inc bought a new stake in Centene in the 2nd quarter valued at about $33,000. Riverview Trust Co increased its position in Centene by 154.6% in the 2nd quarter. Riverview Trust Co now owns 527 shares of the company’s stock valued at $35,000 after buying an additional 320 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in Centene in the 2nd quarter valued at about $36,000. 93.63% of the stock is owned by institutional investors.

About Centene

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.