Centene (NYSE:CNC) Price Target Raised to $79.00

Centene (NYSE:CNC) had its target price upped by Cantor Fitzgerald from $75.00 to $79.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other research firms have also weighed in on CNC. Robert W. Baird increased their target price on shares of Centene from $66.00 to $71.00 and gave the stock a “neutral” rating in a report on Wednesday. Raymond James Financial set a $75.00 target price on Centene in a research note on Tuesday, July 7th. JPMorgan Chase & Co. boosted their price target on Centene from $60.00 to $67.00 and gave the company a “neutral” rating in a report on Tuesday, August 4th. Weiss Ratings raised Centene from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, October 8th. Finally, TD Cowen reiterated a “hold” rating and issued a $65.00 price objective (up from $47.00) on shares of Centene in a report on Tuesday, July 14th. Nine analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Centene currently has an average rating of “Hold” and an average price target of $73.60.

Centene Trading Down 0.3%

NYSE:CNC opened at $68.42 on Wednesday. The company has a fifty day moving average of $66.09 and a 200 day moving average of $55.26. Centene has a 52 week low of $31.63 and a 52 week high of $72.50. The company has a quick ratio of 1.15, a current ratio of 1.16 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $33.87 billion, a P/E ratio of 23.43, a P/E/G ratio of 0.40 and a beta of 1.13.

Centene (NYSE:CNC) last announced its quarterly earnings results on Tuesday, October 27th. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.48. The business had revenue of $50.65 billion during the quarter, compared to analysts’ expectations of $47.12 billion. Centene had a net margin of 0.72% and a return on equity of 12.15%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.50 EPS. On average, research analysts predict that Centene will post 5.22 earnings per share for the current year.

Insider Activity

In other news, General Counsel Christopher Koster sold 56,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $66.90, for a total value of $3,779,850.00. Following the completion of the transaction, the general counsel owned 248,854 shares in the company, valued at $16,648,332.60. This trade represents a 18.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.37% of the company’s stock.

Institutional Investors Weigh In On Centene

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Silicon Valley Capital Partners bought a new stake in shares of Centene during the 2nd quarter valued at $25,000. North Point Portfolio Managers Corp OH purchased a new stake in shares of Centene in the 3rd quarter worth about $25,000. Toth Financial Advisory Corp bought a new position in shares of Centene in the 3rd quarter worth about $30,000. MidFirst Bank bought a new position in shares of Centene in the 2nd quarter worth about $32,000. Finally, Fiduciary Financial Advisors purchased a new position in Centene during the 2nd quarter valued at about $34,000. 93.63% of the stock is owned by hedge funds and other institutional investors.

Key Centene News

Here are the key news stories impacting Centene this week:

• Positive Sentiment: Analysts continue to raise price targets. Wells Fargo lifted its target from $69 to $75 while maintaining an “equal weight” rating. JPMorgan also raised its target from $67 to $75, and UBS increased its target from $70 to $78. These revisions suggest analysts see additional value after Centene’s earnings update, even though the ratings remain cautious. Wells Fargo analyst update JPMorgan analyst update UBS analyst update
• Positive Sentiment: Strong quarterly results and higher guidance support the stock. Centene exceeded earnings and revenue expectations, and its quarterly revenue increased year over year. The company’s guidance increase reinforces expectations for improved profitability and prompted additional analyst optimism. Centene Q3 earnings and guidance Centene guidance increase
• Neutral Sentiment: Analyst ratings remain restrained. Wells Fargo and UBS retain “equal weight” or “neutral” recommendations, indicating that the higher targets reflect moderate appreciation potential rather than a strong conviction that CNC is significantly undervalued. Centene analyst price target update
• Negative Sentiment: Membership pressure remains a key risk. Coverage has highlighted lingering membership challenges and uncertainty over whether Centene can maintain a stable health benefits ratio. These issues could offset the benefit of stronger earnings and guidance if they pressure margins or future revenue growth. Centene membership pressures Centene health benefits ratio analysis

Centene Company Profile

Centene Corporation is a diversified healthcare enterprise that provides government-sponsored and commercial health insurance programs and related healthcare services. The company’s offerings are primarily focused on Medicaid, Medicare, and health insurance marketplace plans, with an emphasis on serving individuals and families who may have limited access to traditional healthcare coverage.

Centene operates Medicaid health plans through state-based contracts and offers Medicare Advantage, Medicare prescription drug, and Medicare Supplement products through its Wellcare brand.