Centene (NYSE:CNC) Price Target Raised to $75.00

Centene (NYSE:CNC) had its price target increased by JPMorgan Chase & Co. from $67.00 to $75.00 in a report published on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other equities analysts also recently commented on the stock. Robert W. Baird increased their price objective on shares of Centene from $66.00 to $71.00 and gave the stock a “neutral” rating in a research note on Wednesday. Weiss Ratings raised Centene from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday. Wells Fargo & Company set a $69.00 target price on Centene and gave the stock an “equal weight” rating in a report on Monday, July 13th. Royal Bank Of Canada increased their price target on Centene from $70.00 to $71.00 and gave the company a “sector perform” rating in a research report on Thursday, July 9th. Finally, Mizuho set a $72.00 price target on Centene in a research report on Wednesday. Nine equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $73.60.

Centene Price Performance

NYSE CNC opened at $68.42 on Thursday. The firm’s 50 day moving average is $66.09 and its 200-day moving average is $55.26. The company has a quick ratio of 1.15, a current ratio of 1.16 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $33.87 billion, a PE ratio of 23.43, a price-to-earnings-growth ratio of 0.40 and a beta of 1.13. Centene has a 12-month low of $31.63 and a 12-month high of $72.50.

Centene (NYSE:CNC) last announced its earnings results on Tuesday, October 27th. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.10 by $0.48. The business had revenue of $50.65 billion during the quarter, compared to analysts’ expectations of $47.12 billion. Centene had a net margin of 0.72% and a return on equity of 12.15%. The firm’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.50 earnings per share. Equities research analysts anticipate that Centene will post 5.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Centene news, General Counsel Christopher Koster sold 56,500 shares of the stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $66.90, for a total value of $3,779,850.00. Following the completion of the sale, the general counsel owned 248,854 shares in the company, valued at $16,648,332.60. This trade represents a 18.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.37% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Frank Rimerman Advisors LLC lifted its stake in Centene by 3.7% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 4,521 shares of the company’s stock valued at $281,000 after purchasing an additional 163 shares during the last quarter. Journey Retirement Planning & Investment Management LLC grew its holdings in Centene by 3.9% during the third quarter. Journey Retirement Planning & Investment Management LLC now owns 4,652 shares of the company’s stock worth $289,000 after purchasing an additional 175 shares during the period. 180 Wealth Advisors LLC increased its position in Centene by 3.1% during the first quarter. 180 Wealth Advisors LLC now owns 6,683 shares of the company’s stock worth $219,000 after buying an additional 199 shares during the last quarter. Grove Bank & Trust increased its position in Centene by 2.0% during the third quarter. Grove Bank & Trust now owns 11,294 shares of the company’s stock worth $702,000 after buying an additional 220 shares during the last quarter. Finally, GoalVest Advisory LLC raised its stake in Centene by 25.9% in the third quarter. GoalVest Advisory LLC now owns 1,122 shares of the company’s stock valued at $70,000 after buying an additional 231 shares during the period. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Centene News Roundup

Here are the key news stories impacting Centene this week:

• Positive Sentiment: Analysts continue to raise price targets. Wells Fargo lifted its target from $69 to $75 while maintaining an “equal weight” rating. JPMorgan also raised its target from $67 to $75, and UBS increased its target from $70 to $78. These revisions suggest analysts see additional value after Centene’s earnings update, even though the ratings remain cautious. Wells Fargo analyst update JPMorgan analyst update UBS analyst update
• Positive Sentiment: Strong quarterly results and higher guidance support the stock. Centene exceeded earnings and revenue expectations, and its quarterly revenue increased year over year. The company’s guidance increase reinforces expectations for improved profitability and prompted additional analyst optimism. Centene Q3 earnings and guidance Centene guidance increase
• Neutral Sentiment: Analyst ratings remain restrained. Wells Fargo and UBS retain “equal weight” or “neutral” recommendations, indicating that the higher targets reflect moderate appreciation potential rather than a strong conviction that CNC is significantly undervalued. Centene analyst price target update
• Negative Sentiment: Membership pressure remains a key risk. Coverage has highlighted lingering membership challenges and uncertainty over whether Centene can maintain a stable health benefits ratio. These issues could offset the benefit of stronger earnings and guidance if they pressure margins or future revenue growth. Centene membership pressures Centene health benefits ratio analysis

About Centene

Centene Corporation is a diversified healthcare enterprise that provides government-sponsored and commercial health insurance programs and related healthcare services. The company’s offerings are primarily focused on Medicaid, Medicare, and health insurance marketplace plans, with an emphasis on serving individuals and families who may have limited access to traditional healthcare coverage.

Centene operates Medicaid health plans through state-based contracts and offers Medicare Advantage, Medicare prescription drug, and Medicare Supplement products through its Wellcare brand.