Centene (NYSE:CNC) Price Target Lowered to $41.00 at JPMorgan Chase & Co.

Centene (NYSE:CNC) had its target price reduced by investment analysts at JPMorgan Chase & Co. from $45.00 to $41.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 15.28% from the company’s current price.

A number of other brokerages have also commented on CNC. Morgan Stanley upped their price objective on Centene from $38.00 to $45.00 and gave the company an “equal weight” rating in a report on Wednesday, March 4th. TD Cowen upped their price target on shares of Centene from $34.00 to $38.00 and gave the company a “hold” rating in a research note on Wednesday, February 11th. Argus raised shares of Centene to a “hold” rating in a research report on Monday, February 9th. Wells Fargo & Company set a $44.00 price objective on shares of Centene and gave the company an “equal weight” rating in a report on Wednesday, February 18th. Finally, Truist Financial raised their target price on shares of Centene from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Three equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $41.81.

Centene Stock Performance

Centene stock traded down $0.59 during trading hours on Thursday, hitting $35.57. The company had a trading volume of 5,648,370 shares, compared to its average volume of 6,488,272. The firm has a 50-day moving average of $42.21 and a 200 day moving average of $38.53. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a market cap of $17.49 billion, a PE ratio of -2.61, a PEG ratio of 0.77 and a beta of 0.48. Centene has a one year low of $25.08 and a one year high of $66.03.

Centene (NYSE:CNC) last issued its quarterly earnings data on Friday, February 6th. The company reported ($1.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.03. The company had revenue of $49.73 billion during the quarter, compared to analysts’ expectations of $48.41 billion. Centene had a positive return on equity of 4.25% and a negative net margin of 3.43%.The business’s revenue was up 21.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.80 earnings per share. Centene has set its FY 2026 guidance at 3.000-3.000 EPS. On average, sell-side analysts expect that Centene will post 6.86 earnings per share for the current year.

Institutional Trading of Centene

Large investors have recently made changes to their positions in the company. Baird Financial Group Inc. acquired a new stake in shares of Centene in the 1st quarter valued at approximately $236,000. Sivia Capital Partners LLC lifted its stake in Centene by 80.0% in the 2nd quarter. Sivia Capital Partners LLC now owns 9,710 shares of the company’s stock valued at $527,000 after purchasing an additional 4,315 shares during the last quarter. Creative Planning boosted its position in Centene by 68.2% in the second quarter. Creative Planning now owns 78,451 shares of the company’s stock valued at $4,258,000 after buying an additional 31,797 shares in the last quarter. Citizens Financial Group Inc. RI bought a new stake in shares of Centene during the second quarter worth $303,000. Finally, Rockefeller Capital Management L.P. increased its holdings in shares of Centene by 71.0% during the second quarter. Rockefeller Capital Management L.P. now owns 22,903 shares of the company’s stock worth $1,243,000 after buying an additional 9,506 shares in the last quarter. Institutional investors and hedge funds own 93.63% of the company’s stock.

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.