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

Centene (NYSE:CNC) had its target price boosted by investment analysts at Truist Financial from $47.00 to $49.00 in a research report issued on Wednesday,MarketScreener reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price objective suggests a potential upside of 12.90% from the stock’s previous close.

CNC has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft upped their target price on Centene from $32.00 to $39.00 and gave the stock a “hold” rating in a research note on Tuesday, February 10th. Zacks Research raised shares of Centene from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 29th. Argus upgraded Centene to a “hold” rating in a research report on Monday, February 9th. Robert W. Baird upped their price objective on shares of Centene from $28.00 to $36.00 and gave the company a “neutral” rating in a research note on Thursday, December 11th. Finally, Oppenheimer reissued an “outperform” rating and issued a $45.00 target price on shares of Centene in a research note on Thursday, October 30th. 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’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $42.00.

Centene Price Performance

CNC traded up $1.03 during trading on Wednesday, reaching $43.40. 495,187 shares of the company were exchanged, compared to its average volume of 6,453,449. The company’s 50-day moving average is $42.57 and its two-hundred day moving average is $37.27. Centene has a 12-month low of $25.08 and a 12-month high of $66.03. The company has a market cap of $21.34 billion, a price-to-earnings ratio of -3.19, a P/E/G ratio of 0.96 and a beta of 0.48. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.87.

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

Institutional Trading of Centene

Several institutional investors have recently added to or reduced their stakes in CNC. DV Equities LLC bought a new position in shares of Centene during the fourth quarter valued at $26,000. IFC & Insurance Marketing Inc. purchased a new stake in shares of Centene during the 4th quarter valued at about $28,000. Addison Advisors LLC grew its stake in shares of Centene by 455.6% in the third quarter. Addison Advisors LLC now owns 739 shares of the company’s stock worth $26,000 after acquiring an additional 606 shares during the period. SBI Securities Co. Ltd. raised its holdings in shares of Centene by 118.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 749 shares of the company’s stock valued at $31,000 after purchasing an additional 406 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC bought a new position in Centene during the third quarter valued at approximately $27,000. 93.63% of the stock is currently owned by hedge funds and other institutional investors.

About Centene

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.