Centene (NYSE:CNC) Given New $67.00 Price Target at Oppenheimer

Centene (NYSE:CNC) had its price objective boosted by Oppenheimer from $58.00 to $67.00 in a report issued on Wednesday,MarketScreener reports. Oppenheimer currently has an outperform rating on the stock.

A number of other analysts have also commented on CNC. Zacks Research raised Centene from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 6th. Truist Financial upped their price target on Centene from $49.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Argus upgraded Centene to a “hold” rating in a research note on Monday, February 9th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $40.00 price objective on shares of Centene in a report on Wednesday, April 29th. Finally, Raymond James Financial set a $60.00 target price on shares of Centene in a report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $58.18.

Centene Stock Performance

CNC opened at $59.64 on Wednesday. Centene has a 1-year low of $25.08 and a 1-year high of $60.76. The company has a market cap of $29.45 billion, a price-to-earnings ratio of -4.55, a PEG ratio of 0.45 and a beta of 1.06. The company’s fifty day moving average price is $44.49 and its two-hundred day moving average price is $42.14. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.76.

Centene (NYSE:CNC) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $1.14. Centene had a negative net margin of 3.25% and a positive return on equity of 5.57%. The firm had revenue of $49.94 billion during the quarter, compared to analysts’ expectations of $47.53 billion. During the same period last year, the company earned $2.90 earnings per share. The business’s revenue was up 7.1% on a year-over-year basis. On average, analysts expect that Centene will post 3.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Centene

Hedge funds have recently made changes to their positions in the business. 180 Wealth Advisors LLC grew its position in shares of Centene by 3.1% during the 1st quarter. 180 Wealth Advisors LLC now owns 6,683 shares of the company’s stock valued at $219,000 after acquiring an additional 199 shares during the period. Summitry LLC boosted its holdings in Centene by 1.1% in the 1st quarter. Summitry LLC now owns 23,925 shares of the company’s stock worth $783,000 after buying an additional 253 shares during the period. Kestra Advisory Services LLC grew its position in shares of Centene by 0.5% in the fourth quarter. Kestra Advisory Services LLC now owns 52,602 shares of the company’s stock valued at $2,165,000 after purchasing an additional 264 shares in the last quarter. Arkadios Wealth Advisors grew its holdings in Centene by 4.2% during the 4th quarter. Arkadios Wealth Advisors now owns 7,465 shares of the company’s stock valued at $307,000 after buying an additional 300 shares in the last quarter. Finally, Affinity Investment Advisors LLC increased its holdings in Centene by 3.0% during the 4th quarter. Affinity Investment Advisors LLC now owns 10,927 shares of the company’s stock worth $450,000 after acquiring an additional 316 shares during the period. 93.63% of the stock is currently owned by institutional investors.

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.