Centene (NYSE:CNC) Price Target Raised to $49.00

Centene (NYSE:CNC) had its price objective upped by Truist Financial from $47.00 to $49.00 in a report published on Wednesday morning, Marketbeat Ratings reports. They currently have a buy rating on the stock.

A number of other brokerages have also recently issued reports on CNC. TD Cowen raised their price objective on Centene from $34.00 to $38.00 and gave the company a “hold” rating in a research note on Wednesday, February 11th. Cantor Fitzgerald restated a “neutral” rating and issued a $41.00 target price on shares of Centene in a report on Monday, February 9th. UBS Group set a $42.00 price target on shares of Centene and gave the stock a “neutral” rating in a report on Thursday, October 30th. Zacks Research raised Centene from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 29th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $59.00 price objective on shares of Centene in a report on Tuesday, January 6th. Three research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $42.00.

Centene Stock Up 4.4%

Shares of NYSE:CNC opened at $44.82 on Wednesday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a fifty day moving average of $42.83 and a 200 day moving average of $37.48. Centene has a 52-week low of $25.08 and a 52-week high of $66.03. The firm has a market capitalization of $22.04 billion, a PE ratio of -3.29, a price-to-earnings-growth ratio of 0.95 and a beta of 0.48.

Centene (NYSE:CNC) last announced its quarterly earnings data on Friday, February 6th. The company reported ($1.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.03. The company had revenue of $49.73 billion for the quarter, compared to analysts’ expectations of $48.41 billion. Centene had a positive return on equity of 4.25% and a negative net margin of 3.43%.Centene’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same period last year, the firm posted $0.80 EPS. Centene has set its FY 2026 guidance at 3.000-3.000 EPS. As a group, research analysts anticipate that Centene will post 6.86 EPS for the current fiscal year.

Hedge Funds Weigh In On Centene

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kestra Advisory Services LLC lifted its position in Centene by 0.5% during the 4th quarter. Kestra Advisory Services LLC now owns 52,602 shares of the company’s stock valued at $2,165,000 after acquiring an additional 264 shares during the period. WPG Advisers LLC lifted its holdings in shares of Centene by 44.5% during the third quarter. WPG Advisers LLC now owns 915 shares of the company’s stock valued at $33,000 after purchasing an additional 282 shares during the last quarter. Arkadios Wealth Advisors grew its stake in shares of Centene by 4.2% in the 4th quarter. Arkadios Wealth Advisors now owns 7,465 shares of the company’s stock worth $307,000 after buying an additional 300 shares during the last quarter. Affinity Investment Advisors LLC raised its stake in Centene by 3.0% during the fourth quarter. Affinity Investment Advisors LLC now owns 10,927 shares of the company’s stock valued at $450,000 after buying an additional 316 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC grew its stake in shares of Centene by 5.7% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 5,975 shares of the company’s stock worth $246,000 after acquiring an additional 324 shares during the last quarter. Hedge funds and other institutional investors 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.