Centene (NYSE:CNC) Price Target Raised to $93.00

Centene (NYSE:CNC) had its price objective increased by Wells Fargo & Company from $89.00 to $93.00 in a report issued on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 31.49% from the stock’s previous close.

A number of other equities research analysts have also recently commented on CNC. Barclays began coverage on Centene in a research report on Wednesday, March 6th. They set an “overweight” rating and a $101.00 target price on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $90.00 price target on shares of Centene in a research report on Thursday, April 4th. UBS Group lifted their price objective on Centene from $72.00 to $79.00 and gave the stock a “neutral” rating in a report on Thursday, December 21st. Truist Financial increased their target price on Centene from $83.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, December 21st. Finally, Stephens reiterated an “equal weight” rating and set a $85.00 price target (down from $92.00) on shares of Centene in a research report on Thursday, March 21st. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $85.38.

Centene Stock Performance

CNC opened at $70.73 on Monday. The firm has a market capitalization of $37.83 billion, a PE ratio of 14.41, a P/E/G ratio of 0.88 and a beta of 0.38. Centene has a 12-month low of $60.83 and a 12-month high of $81.42. The firm has a 50 day moving average of $76.80 and a two-hundred day moving average of $74.50. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.68.

Centene (NYSE:CNC) last released its quarterly earnings data 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 business had revenue of $39.46 billion during the quarter, compared to analyst estimates of $36.16 billion. Centene had a return on equity of 14.26% and a net margin of 1.75%. The company’s revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the business posted $0.86 EPS. On average, analysts anticipate that Centene will post 6.75 EPS for the current year.

Insider Activity at Centene

In other Centene news, President Kenneth J. Fasola sold 12,000 shares of Centene stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $75.07, for a total value of $900,840.00. Following the sale, the president now owns 235,365 shares in the company, valued at $17,668,850.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other 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 of the company’s stock, valued at approximately $886,731.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Kenneth J. Fasola sold 12,000 shares of Centene stock in a transaction that occurred on Wednesday, February 7th. The shares were 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 of the company’s stock, valued at approximately $17,668,850.55. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Centene

A number of institutional investors have recently modified their holdings of the company. Operose Advisors LLC purchased a new position in shares of Centene in the third quarter valued at approximately $25,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Centene in the fourth quarter valued at $25,000. Rise Advisors LLC purchased a new position in Centene in the first quarter valued at $25,000. Coppell Advisory Solutions Corp. acquired a new position in Centene during the 4th quarter worth $25,000. Finally, ST Germain D J Co. Inc. purchased a new stake in Centene during the 2nd quarter worth about $26,000. 93.63% of the stock is owned by institutional investors and hedge funds.

Centene Company Profile

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.