Oppenheimer Raises Centene (NYSE:CNC) Price Target to $67.00

Centene (NYSE:CNC) had its target price upped by Oppenheimer from $58.00 to $67.00 in a report issued on Wednesday,MarketScreener reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price target would suggest a potential upside of 11.98% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Barclays raised their target price on shares of Centene from $63.00 to $75.00 and gave the stock an “overweight” rating in a report on Tuesday. Bank of America increased their price target on Centene from $60.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, May 21st. Deutsche Bank Aktiengesellschaft upgraded Centene from a “hold” rating to a “buy” rating and boosted their price objective for the company from $53.00 to $80.00 in a research report on Wednesday, May 20th. Morgan Stanley upped their price objective on Centene from $45.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 29th. Finally, Wall Street Zen upgraded Centene from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $58.18.

Centene Stock Performance

Shares of CNC opened at $59.83 on Wednesday. The stock has a market capitalization of $29.54 billion, a PE ratio of -4.55, a price-to-earnings-growth ratio of 0.45 and a beta of 1.06. The business’s fifty day moving average price is $44.49 and its 200 day moving average price is $42.14. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.12 and a quick ratio of 1.12. Centene has a 12-month low of $25.08 and a 12-month high of $60.76.

Centene (NYSE:CNC) last released its earnings results on Tuesday, April 28th. The company reported $3.37 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $47.53 billion. During the same quarter in the previous year, the firm earned $2.90 earnings per share. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. Equities research analysts forecast that Centene will post 3.45 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CNC. Addison Advisors LLC boosted its position in shares of Centene by 455.6% during the 3rd quarter. Addison Advisors LLC now owns 739 shares of the company’s stock valued at $26,000 after purchasing an additional 606 shares in the last quarter. DV Equities LLC acquired a new stake in Centene during the fourth quarter valued at approximately $26,000. IFC & Insurance Marketing Inc. bought a new stake in Centene during the fourth quarter worth approximately $28,000. SBI Securities Co. Ltd. grew its position in Centene by 118.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 749 shares of the company’s stock worth $31,000 after buying an additional 406 shares during the last quarter. Finally, Bayban bought a new position in shares of Centene in the fourth quarter valued at $33,000. 93.63% of the stock is owned by institutional investors and hedge funds.

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.