Truist Financial Issues Positive Forecast for Centene (NYSE:CNC) Stock Price

Centene (NYSE:CNC) had its target price hoisted by analysts at Truist Financial from $45.00 to $47.00 in a research note issued to investors on Monday,MarketScreener reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price target would suggest a potential upside of 4.53% from the company’s current price.

A number of other brokerages have also recently commented on CNC. Sanford C. Bernstein restated an “outperform” rating and issued a $45.00 price target (up previously from $36.00) on shares of Centene in a research report on Friday, November 21st. Zacks Research upgraded Centene from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 29th. TD Cowen upped their price target on shares of Centene from $30.00 to $34.00 and gave the company a “hold” rating in a research report on Friday, October 31st. Robert W. Baird lifted their price target on shares of Centene from $28.00 to $36.00 and gave the stock a “neutral” rating in a report on Thursday, December 11th. Finally, Wells Fargo & Company decreased their price target on Centene from $41.00 to $35.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 12th. Three investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Centene has an average rating of “Hold” and an average price target of $38.56.

Centene Stock Up 7.6%

CNC opened at $44.97 on Monday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.83. The stock’s fifty day simple moving average is $38.29 and its 200 day simple moving average is $35.03. Centene has a 1-year low of $25.08 and a 1-year high of $66.81. The stock has a market cap of $22.10 billion, a PE ratio of -4.16, a price-to-earnings-growth ratio of 0.95 and a beta of 0.48.

Centene (NYSE:CNC) last announced its earnings results on Wednesday, October 29th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of ($0.21) by $0.71. The business had revenue of $49.69 billion during the quarter, compared to the consensus estimate of $47.50 billion. Centene had a negative net margin of 2.85% and a positive return on equity of 7.82%. Centene’s revenue was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.62 EPS. As a group, research analysts expect that Centene will post 6.86 earnings per share for the current year.

Hedge Funds Weigh In On Centene

A number of institutional investors and hedge funds have recently modified their holdings of CNC. Addison Advisors LLC grew its position in shares of Centene by 455.6% during the 3rd quarter. Addison Advisors LLC now owns 739 shares of the company’s stock worth $26,000 after buying an additional 606 shares during the period. Mowery & Schoenfeld Wealth Management LLC purchased a new position in Centene during the 3rd quarter worth $27,000. WPG Advisers LLC raised its holdings in shares of Centene by 44.5% in 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. Bogart Wealth LLC boosted its holdings in Centene by 11,011.1% during the third quarter. Bogart Wealth LLC now owns 1,000 shares of the company’s stock worth $36,000 after purchasing an additional 991 shares during the last quarter. Finally, Ameriflex Group Inc. increased its stake in Centene by 152.5% in the 3rd quarter. Ameriflex Group Inc. now owns 1,010 shares of the company’s stock valued at $36,000 after buying an additional 610 shares during the last quarter. 93.63% of the stock is currently owned by institutional investors.

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.