Centene (NYSE:CNC) Lowered to Buy Rating by StockNews.com

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

A number of other analysts also recently issued reports on the stock. Truist Financial reduced their price target on shares of Centene from $92.00 to $89.00 and set a “buy” rating on the stock in a report on Monday, July 15th. Oppenheimer reduced their price target on shares of Centene from $110.00 to $95.00 and set an “outperform” rating on the stock in a report on Monday, July 29th. Jefferies Financial Group downgraded shares of Centene from a “buy” rating to a “hold” rating and reduced their price target for the company from $83.00 to $69.00 in a report on Wednesday, July 24th. Stephens restated an “equal weight” rating and issued a $78.00 target price on shares of Centene in a report on Monday, August 5th. Finally, 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 report on Wednesday, July 31st. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Centene has an average rating of “Moderate Buy” and a consensus target price of $84.00.

Centene Stock Performance

Shares of NYSE CNC opened at $61.77 on Monday. 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 cap of $32.96 billion, a P/E ratio of 12.28, a P/E/G ratio of 0.98 and a beta of 0.48. The firm’s fifty day moving average is $71.87 and its two-hundred day moving average is $72.09. Centene has a 52-week low of $59.77 and a 52-week high of $81.42.

Hedge Funds Weigh In On Centene

Large investors have recently made changes to their positions in the company. Park Place Capital Corp boosted its stake in shares of Centene by 1,190.0% during the 3rd quarter. Park Place Capital Corp now owns 387 shares of the company’s stock worth $29,000 after purchasing an additional 357 shares during the period. WR Wealth Planners LLC boosted its position in Centene by 41.4% in the 2nd quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock valued at $31,000 after buying an additional 137 shares during the period. Chris Bulman Inc purchased a new stake in Centene in the 2nd quarter valued at about $33,000. Riverview Trust Co boosted its position in 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 buying an additional 320 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Centene in the 2nd quarter valued at about $36,000. 93.63% of the stock is owned by hedge funds and other 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.