Robert W. Baird Issues Pessimistic Forecast for Centene (NYSE:CNC) Stock Price

Centene (NYSE:CNC) had its price objective decreased by Robert W. Baird from $71.00 to $69.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Robert W. Baird currently has a neutral rating on the stock.

Several other equities research analysts have also recently commented on CNC. Argus cut Centene from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Jefferies Financial Group upgraded Centene from an “underperform” rating to a “hold” rating and lifted their price target for the stock from $53.00 to $64.00 in a report on Tuesday, April 8th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $75.00 price objective (down previously from $80.00) on shares of Centene in a report on Tuesday, December 17th. Guggenheim started coverage on shares of Centene in a report on Wednesday, April 9th. They issued a “neutral” rating on the stock. Finally, StockNews.com raised shares of Centene from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 11th. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $80.69.

Centene Stock Down 1.3 %

NYSE CNC opened at $62.22 on Tuesday. The business has a fifty day moving average price of $59.60 and a 200 day moving average price of $61.57. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.10 and a current ratio of 1.11. The company has a market cap of $30.86 billion, a P/E ratio of 9.97, a P/E/G ratio of 0.80 and a beta of 0.53. Centene has a one year low of $55.03 and a one year high of $80.59.

Centene (NYSE:CNC) last issued its earnings results on Tuesday, February 4th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.31. Centene had a net margin of 2.03% and a return on equity of 13.85%. The business had revenue of $40.81 billion during the quarter, compared to analysts’ expectations of $38.78 billion. During the same period in the prior year, the business earned $0.45 earnings per share. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. Research analysts anticipate that Centene will post 6.86 EPS for the current fiscal year.

Hedge Funds Weigh In On Centene

Institutional investors have recently bought and sold shares of the company. Capital Advisors Ltd. LLC boosted its stake in shares of Centene by 75.3% in the fourth quarter. Capital Advisors Ltd. LLC now owns 412 shares of the company’s stock valued at $25,000 after purchasing an additional 177 shares during the period. Pinney & Scofield Inc. purchased a new position in Centene in the 4th quarter valued at approximately $25,000. Hurley Capital LLC purchased a new stake in shares of Centene during the fourth quarter worth $26,000. Ameriflex Group Inc. purchased a new position in Centene in the fourth quarter valued at $26,000. Finally, Rialto Wealth Management LLC acquired a new position in Centene during the 4th quarter worth $30,000. 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.