Centene (CNC) – Investment Analysts’ Weekly Ratings Changes

Centene (NYSE: CNC) recently received a number of ratings updates from brokerages and research firms:

• 4/30/2024 – Centene had its price target raised by analysts at Deutsche Bank Aktiengesellschaft from $81.00 to $82.00. They now have a “hold” rating on the stock.
• 4/29/2024 – Centene was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
• 4/29/2024 – Centene had its “outperform” rating reaffirmed by analysts at Oppenheimer Holdings Inc.. They now have a $110.00 price target on the stock.
• 4/15/2024 – Centene had its price target raised by analysts at Wells Fargo & Company from $89.00 to $93.00. They now have an “overweight” rating on the stock.
• 4/8/2024 – Centene had its price target lowered by analysts at Wells Fargo & Company from $94.00 to $89.00. They now have an “overweight” rating on the stock.
• 4/4/2024 – Centene had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $90.00 price target on the stock.
• 3/28/2024 – Centene was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
• 3/21/2024 – Centene had its “equal weight” rating reaffirmed by analysts at Stephens. They now have a $85.00 price target on the stock, down previously from $92.00.
• 3/20/2024 – Centene had its price target raised by analysts at Wells Fargo & Company from $90.00 to $94.00. They now have an “overweight” rating on the stock.
• 3/6/2024 – Centene is now covered by analysts at Barclays PLC. They set an “overweight” rating and a $101.00 price target on the stock.

Centene Price Performance

CNC opened at $72.25 on Thursday. The company has a market capitalization of $38.56 billion, a price-to-earnings ratio of 14.36, a PEG ratio of 0.95 and a beta of 0.38. The company has a quick ratio of 1.11, a current ratio of 1.17 and a debt-to-equity ratio of 0.66. The firm has a 50-day moving average price of $75.96 and a 200-day moving average price of $74.84. Centene Co. has a twelve month low of $60.83 and a twelve month high of $81.42.

Centene (NYSE:CNC) last posted its earnings results on Friday, April 26th. The company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.09 by $0.17. The firm had revenue of $40.41 billion during the quarter, compared to the consensus estimate of $36.43 billion. Centene had a net margin of 1.76% and a return on equity of 14.19%. The company’s revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the company earned $2.11 earnings per share. Equities analysts expect that Centene Co. will post 6.82 EPS for the current year.

Insider Transactions at Centene

In related 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 transaction of $774,100.00. Following the completion of the transaction, the director now owns 11,455 shares of the company’s stock, valued at $886,731.55. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, President Kenneth J. Fasola sold 12,000 shares of the business’s 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 transaction, the president now owns 235,365 shares of the company’s stock, valued at $17,668,850.55. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 transaction of $774,100.00. Following the transaction, the director now directly owns 11,455 shares of the company’s stock, valued at approximately $886,731.55. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Centene

Several hedge funds have recently bought and sold shares of the stock. Hohimer Wealth Management LLC lifted its position in Centene by 1.1% during the fourth quarter. Hohimer Wealth Management LLC now owns 12,020 shares of the company’s stock valued at $892,000 after purchasing an additional 131 shares during the last quarter. Sandy Spring Bank lifted its position in Centene by 10.1% during the fourth quarter. Sandy Spring Bank now owns 1,629 shares of the company’s stock valued at $121,000 after purchasing an additional 150 shares during the last quarter. Signaturefd LLC lifted its position in Centene by 1.5% during the third quarter. Signaturefd LLC now owns 10,456 shares of the company’s stock valued at $720,000 after purchasing an additional 158 shares during the last quarter. First Bank & Trust lifted its position in Centene by 4.1% during the fourth quarter. First Bank & Trust now owns 4,154 shares of the company’s stock valued at $308,000 after purchasing an additional 162 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in Centene by 7.2% during the fourth quarter. Blue Trust Inc. now owns 2,454 shares of the company’s stock valued at $169,000 after purchasing an additional 164 shares during the last quarter. 93.63% of the stock is currently owned by institutional investors.

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.