Centene (NYSE:CNC) Rating Reiterated by Cantor Fitzgerald

Centene (NYSE:CNC)‘s stock had its “overweight” rating restated by Cantor Fitzgerald in a report released on Tuesday, Benzinga reports. They currently have a $90.00 price target on the stock. Cantor Fitzgerald’s price objective points to a potential upside of 22.50% from the stock’s previous close.

Several other research firms also recently weighed in on CNC. TD Cowen lifted their target price on shares of Centene from $80.00 to $89.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Centene from $82.00 to $87.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. Truist Financial reduced their price objective on shares of Centene from $92.00 to $89.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Barclays reduced their price objective on shares of Centene from $98.00 to $97.00 and set an “overweight” rating for the company in a research note on Thursday, September 5th. Finally, StockNews.com raised shares of Centene from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $85.75.

Centene Stock Performance

NYSE CNC opened at $73.47 on Tuesday. Centene has a 52-week low of $63.45 and a 52-week high of $81.42. The company has a 50-day simple moving average of $73.23 and a 200 day simple moving average of $73.64. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.17 and a current ratio of 1.17. The company has a market capitalization of $39.21 billion, a PE ratio of 14.61, a price-to-earnings-growth ratio of 0.95 and a beta of 0.48.

Centene (NYSE:CNC) last posted its quarterly earnings data on Friday, July 26th. The company reported $2.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.02). The company had revenue of $39.84 billion for the quarter, compared to analysts’ expectations of $36.83 billion. Centene had a return on equity of 14.45% and a net margin of 1.79%. The business’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the business posted $2.10 EPS. On average, research analysts predict that Centene will post 6.83 EPS for the current year.

Institutional Investors Weigh In On Centene

Hedge funds have recently made changes to their positions in the business. Rise Advisors LLC bought a new stake in shares of Centene in the 1st quarter worth approximately $25,000. WR Wealth Planners LLC lifted its holdings in shares of Centene by 41.4% in the 2nd quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock worth $31,000 after acquiring an additional 137 shares during the last quarter. Chris Bulman Inc bought a new stake in shares of Centene in the 2nd quarter worth approximately $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. bought a new stake in Centene during the 2nd quarter valued at $36,000. 93.63% of the stock is currently owned by institutional investors.

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.