Centene (NYSE:CNC) Stock Moved Down to Buy by Wall Street Zen

Wall Street Zen cut shares of Centene (NYSE:CNC) from a strong-buy rating to a buy rating in a research report sent to investors on Saturday,Wall Street Zen reports.

CNC has been the topic of a number of other research reports. Raymond James Financial set a $79.00 target price on Centene in a report on Wednesday. JPMorgan Chase & Co. boosted their price target on Centene from $67.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday. Argus upgraded Centene from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a research report on Tuesday, August 11th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $79.00 price objective (up from $68.00) on shares of Centene in a research note on Monday, August 3rd. Finally, Bank of America reiterated a “buy” rating and set a $82.00 price objective (up from $80.00) on shares of Centene in a research report on Wednesday. Nine equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Centene currently has an average rating of “Hold” and a consensus price target of $73.60.

Centene Stock Down 0.3%

Shares of NYSE CNC opened at $68.42 on Friday. The firm’s 50-day moving average is $66.09 and its two-hundred day moving average is $55.26. 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. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.16 and a quick ratio of 1.15.

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

Insider Transactions at Centene

In related news, General Counsel Christopher Koster sold 56,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $66.90, for a total transaction of $3,779,850.00. Following the sale, the general counsel owned 248,854 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.37% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CNC. Silicon Valley Capital Partners acquired a new stake in shares of Centene in the second quarter worth $25,000. North Point Portfolio Managers Corp OH purchased a new position in shares of Centene in the 3rd quarter valued at $25,000. Toth Financial Advisory Corp purchased a new position in shares of Centene in the 3rd quarter valued at $30,000. MidFirst Bank acquired a new position in shares of Centene during the 2nd quarter valued at $32,000. Finally, Fiduciary Financial Advisors acquired a new position in shares of Centene during the 2nd quarter valued at $34,000. 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.