Centene (NYSE:CNC) Price Target Raised to $67.00

Centene (NYSE:CNC) had its price objective increased by JPMorgan Chase & Co. from $60.00 to $67.00 in a research report report published on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other equities analysts have also recently issued reports on the company. Royal Bank Of Canada boosted their price objective on Centene from $70.00 to $71.00 and gave the company a “sector perform” rating in a report on Thursday, July 9th. Morgan Stanley set a $66.00 target price on Centene in a research note on Wednesday, July 29th. TD Cowen reiterated a “hold” rating and set a $65.00 target price (up from $47.00) on shares of Centene in a research report on Tuesday, July 14th. Weiss Ratings restated a “sell (d)” rating on shares of Centene in a report on Friday, July 17th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Centene from a “hold” rating to a “buy” rating and raised their price target for the stock from $53.00 to $80.00 in a research note on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Centene has an average rating of “Hold” and a consensus target price of $68.58.

Centene Price Performance

CNC stock opened at $64.21 on Tuesday. The stock has a market cap of $31.72 billion, a PE ratio of -6.15, a P/E/G ratio of 0.36 and a beta of 1.08. Centene has a 12 month low of $25.08 and a 12 month high of $69.36. The company has a 50-day moving average price of $64.36 and a 200 day moving average price of $50.82. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.71.

Centene (NYSE:CNC) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $1.42. The company had revenue of $53.58 billion for the quarter, compared to analyst estimates of $47.64 billion. Centene had a negative net margin of 2.51% and a positive return on equity of 12.12%. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.16) EPS. Centene has set its FY 2026 guidance at 4.800- EPS. Equities research analysts anticipate that Centene will post 4.89 earnings per share for the current year.

Hedge Funds Weigh In On Centene

A number of hedge funds and other institutional investors have recently made changes to their positions in CNC. DV Equities LLC bought a new stake in shares of Centene in the fourth quarter valued at about $26,000. Elevation Wealth Partners LLC increased its position in Centene by 564.6% during the 2nd quarter. Elevation Wealth Partners LLC now owns 658 shares of the company’s stock valued at $42,000 after purchasing an additional 559 shares during the period. IFC & Insurance Marketing Inc. bought a new stake in shares of Centene in the 4th quarter valued at about $28,000. SBI Securities Co. Ltd. lifted its position in shares of Centene by 118.4% in 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 during the period. Finally, Bayban bought a new position in shares of Centene during the fourth quarter valued at approximately $33,000. Institutional investors own 93.63% of the company’s stock.

More Centene News

Here are the key news stories impacting Centene this week:

• Positive Sentiment: Centene reported adjusted second-quarter EPS of $2.51, well above the $1.09 analyst consensus, while revenue reached $53.58 billion. The health benefits ratio improved to 89.6% from 93.0% a year earlier, indicating better pricing, rate increases and medical-cost management. Centene Corp. Surged on Earnings Beat and Improved Outlook
• Positive Sentiment: Management raised 2026 adjusted EPS guidance to more than $4.80 from more than $3.40 and increased its full-year revenue outlook. The higher forecast is the main reason investors have continued bidding up CNC after earnings. Why Centene Is Up After Raising Guidance
• Positive Sentiment: Centene’s redemption of its 2027 notes should reduce near-term refinancing risk and may lower interest expense, adding to the improved financial outlook. Centene Guidance and Debt Redemption
• Positive Sentiment: A recently awarded Illinois Medicaid contract for Centene’s Meridian Health Plan could provide additional support for government-program enrollment and future revenue. Centene Rises on Profit Recovery and Higher Outlook

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.