Centene (NYSE:CNC) Downgraded to Buy at StockNews.com

StockNews.com downgraded shares of Centene (NYSE:CNC) from a strong-buy rating to a buy rating in a research report report published on Monday morning.

Several other equities research analysts have also commented on the stock. TD Cowen boosted their target price on shares of Centene from $80.00 to $89.00 and gave the stock a buy rating in a research report on Wednesday, July 31st. Stephens reaffirmed an equal weight rating and issued a $78.00 target price on shares of Centene in a report on Monday, August 5th. Barclays decreased their price target on Centene from $98.00 to $97.00 and set an overweight rating on the stock in a research note on Thursday, September 5th. Wells Fargo & Company dropped their price objective on Centene from $93.00 to $91.00 and set an overweight rating for the company in a research note on Friday, September 13th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Centene from $82.00 to $87.00 and gave the company a hold rating in a report on Friday, August 2nd. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Centene has an average rating of Moderate Buy and a consensus price target of $85.58.

Centene Stock Performance

Shares of Centene stock opened at $71.49 on Monday. The stock has a market capitalization of $38.15 billion, a price-to-earnings ratio of 14.21, a PEG ratio of 1.02 and a beta of 0.48. The firm’s fifty day simple moving average is $75.80 and its 200-day simple moving average is $73.20. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.17 and a quick ratio of 1.17. Centene has a 12 month low of $63.45 and a 12 month high of $81.42.

Centene (NYSE:CNC) last posted its quarterly earnings data on Friday, July 26th. The company reported $2.42 EPS for the quarter, missing the consensus estimate 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 net margin of 1.79% and a return on equity of 14.45%. The firm’s revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the company earned $2.10 earnings per share. As a group, equities analysts forecast that Centene will post 6.8 earnings per share for the current year.

Institutional Investors Weigh In On Centene

Several hedge funds have recently modified their holdings of CNC. Rise Advisors LLC purchased a new position in Centene during the first quarter worth approximately $25,000. WR Wealth Planners LLC grew its position in Centene by 41.4% during the second quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock valued at $31,000 after acquiring an additional 137 shares during the period. Chris Bulman Inc purchased a new position in shares of Centene in the 2nd quarter worth about $33,000. Riverview Trust Co lifted its stake in shares of Centene by 154.6% in the 2nd quarter. Riverview Trust Co now owns 527 shares of the company’s stock valued at $35,000 after purchasing an additional 320 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Centene during the 2nd quarter worth approximately $36,000. 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.