Centene (NYSE:CNC) Upgraded to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Centene (NYSE:CNC) from a buy rating to a strong-buy rating in a research report report published on Saturday morning.

A number of other research analysts also recently issued reports on the stock. Royal Bank Of Canada raised their price target on shares of Centene from $70.00 to $71.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 9th. Cantor Fitzgerald increased their price objective on shares of Centene from $60.00 to $75.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Bank of America lifted their price target on Centene from $72.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, June 4th. The Goldman Sachs Group restated a “sell” rating and issued a $40.00 price objective on shares of Centene in a report on Wednesday, April 29th. Finally, Truist Financial upped their price target on shares of Centene from $71.00 to $78.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Seven research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Centene presently has an average rating of “Hold” and an average price target of $64.61.

Centene Stock Up 3.8%

Shares of NYSE CNC opened at $66.29 on Friday. The firm’s 50 day moving average price is $62.76 and its 200 day moving average price is $48.85. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market cap of $32.73 billion, a P/E ratio of -5.04, a price-to-earnings-growth ratio of 0.52 and a beta of 1.07. Centene has a 1 year low of $25.08 and a 1 year high of $69.36.

Centene (NYSE:CNC) last issued its earnings results on Tuesday, April 28th. The company reported $3.37 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $1.14. Centene had a positive return on equity of 5.57% and a negative net margin of 3.25%.The firm had revenue of $49.94 billion for the quarter, compared to analysts’ expectations of $47.53 billion. During the same quarter last 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. As a group, sell-side analysts anticipate that Centene will post 3.44 earnings per share for the current year.

Institutional Investors Weigh In On Centene

Several hedge funds and other institutional investors have recently modified their holdings of CNC. DV Equities LLC bought a new stake in Centene in the 4th quarter valued at $26,000. IFC & Insurance Marketing Inc. bought a new position in shares of Centene during the 4th quarter worth about $28,000. SBI Securities Co. Ltd. increased its stake in Centene by 118.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 749 shares of the company’s stock valued at $31,000 after acquiring an additional 406 shares during the period. Bayban acquired a new position in Centene in the fourth quarter worth about $33,000. Finally, MV Capital Management Inc. bought a new position in Centene during the fourth quarter worth about $34,000. Institutional investors and hedge funds own 93.63% of the company’s stock.

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.