Centene’s (CNC) “Overweight” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Centene (NYSE:CNC) in a research note released on Friday, Benzinga reports. Cantor Fitzgerald currently has a $90.00 price target on the stock.

CNC has been the subject of several other research reports. StockNews.com upgraded Centene from a buy rating to a strong-buy rating in a report on Monday, July 29th. Baird R W raised Centene to a hold rating in a research report on Thursday, May 30th. Wells Fargo & Company dropped their price target on Centene from $93.00 to $91.00 and set an overweight rating on the stock in a research report on Friday, September 13th. Truist Financial decreased their price objective on Centene from $92.00 to $89.00 and set a buy rating for the company in a report on Monday, July 15th. Finally, Stephens reaffirmed an equal weight rating and issued a $78.00 target price on shares of Centene in a research report on Monday, August 5th. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Centene currently has an average rating of Moderate Buy and an average target price of $85.58.

Centene Trading Down 0.3 %

NYSE CNC opened at $75.35 on Friday. Centene has a one year low of $63.45 and a one year high of $81.42. The business’s fifty day moving average is $74.67 and its 200-day moving average is $73.43. The stock has a market capitalization of $40.21 billion, a price-to-earnings ratio of 14.98, a PEG ratio of 0.99 and a beta of 0.48. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.17 and a quick ratio of 1.17.

Centene (NYSE:CNC) last released its quarterly earnings data on Friday, July 26th. The company reported $2.42 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.02). Centene had a net margin of 1.79% and a return on equity of 14.45%. The firm had revenue of $39.84 billion during the quarter, compared to the consensus estimate of $36.83 billion. During the same quarter last year, the business posted $2.10 earnings per share. Centene’s revenue was up 5.9% compared to the same quarter last year. Equities research analysts predict that Centene will post 6.82 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Rise Advisors LLC purchased a new stake in Centene during the first quarter valued at approximately $25,000. WR Wealth Planners LLC boosted its stake in Centene by 41.4% during the second quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock worth $31,000 after buying an additional 137 shares during the period. Chris Bulman Inc purchased a new stake in shares of Centene in the second quarter valued at $33,000. Riverview Trust Co lifted its holdings in shares of Centene by 154.6% in the 2nd quarter. Riverview Trust Co now owns 527 shares of the company’s stock worth $35,000 after acquiring an additional 320 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Centene during the 2nd quarter worth about $36,000. Institutional investors own 93.63% of the company’s stock.

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.