Centene (NYSE:CNC) Price Target Cut to $89.00

Centene (NYSE:CNC) had its price objective cut by stock analysts at Wells Fargo & Company from $94.00 to $89.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 22.42% from the stock’s current price.

CNC has been the topic of several other research reports. Barclays assumed coverage on shares of Centene in a report on Wednesday, March 6th. They set an “overweight” rating and a $101.00 target price on the stock. Truist Financial lifted their price target on shares of Centene from $83.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, December 21st. StockNews.com downgraded shares of Centene from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 28th. UBS Group lifted their price target on shares of Centene from $72.00 to $79.00 and gave the stock a “neutral” rating in a research note on Thursday, December 21st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $90.00 price target on shares of Centene in a research note on Thursday, April 4th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Centene has an average rating of “Moderate Buy” and an average price target of $85.08.

Centene Stock Down 0.4 %

Shares of NYSE CNC opened at $72.70 on Monday. Centene has a 1 year low of $60.83 and a 1 year high of $81.42. The firm’s 50 day moving average price is $77.03 and its 200 day moving average price is $74.47. The firm has a market cap of $38.89 billion, a P/E ratio of 14.81, a price-to-earnings-growth ratio of 0.90 and a beta of 0.38. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.11 and a current ratio of 1.11.

Centene (NYSE:CNC) last announced its quarterly earnings results 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 company 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%. Centene’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter last year, the business earned $0.86 EPS. As a group, sell-side analysts anticipate that Centene will post 6.75 earnings per share for the current year.

Insider Buying and Selling at Centene

In other news, Director Lori Jean Robinson sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $77.41, for a total value of $774,100.00. Following the completion of the sale, the director now directly owns 11,455 shares of the company’s stock, valued at approximately $886,731.55. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Lori Jean Robinson sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $77.41, for a total value of $774,100.00. Following the sale, the director now directly owns 11,455 shares in the company, valued at approximately $886,731.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Kenneth J. Fasola sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $75.07, for a total transaction of $900,840.00. Following the completion of the sale, the president now owns 235,365 shares in the company, valued at $17,668,850.55. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Centene

A number of large investors have recently made changes to their positions in CNC. Coppell Advisory Solutions Corp. 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. Turtle Creek Wealth Advisors LLC purchased a new stake in Centene in the 4th quarter worth approximately $25,000. Operose Advisors LLC purchased a new stake in Centene in the 3rd quarter worth approximately $25,000. Finally, ST Germain D J Co. Inc. purchased a new stake in Centene in the 2nd quarter worth approximately $26,000. Institutional investors and hedge funds own 93.63% of the company’s stock.

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.