Centene Co. (NYSE:CNC) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Centene Co. (NYSE:CNC) have been assigned an average recommendation of “Moderate Buy” from the fourteen analysts that are currently covering the company, MarketBeat reports. Seven research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $84.00.

A number of brokerages recently weighed in on CNC. Barclays cut their price target on shares of Centene from $97.00 to $91.00 and set an “overweight” rating on the stock in a report on Tuesday. Cantor Fitzgerald reissued an “overweight” rating and set a $90.00 target price on shares of Centene in a research report on Tuesday, October 1st. Sanford C. Bernstein lowered their price target on shares of Centene from $96.00 to $88.00 and set an “outperform” rating on the stock in a report on Wednesday. Truist Financial reduced their price objective on Centene from $92.00 to $89.00 and set a “buy” rating for the company in a report on Monday, July 15th. Finally, Stephens restated an “equal weight” rating and issued a $78.00 target price on shares of Centene in a research note on Monday, August 5th.

Centene Stock Up 0.8 %

CNC stock opened at $62.26 on Friday. The stock has a market cap of $32.75 billion, a P/E ratio of 10.81, a P/E/G ratio of 0.98 and a beta of 0.48. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.64. The stock’s fifty day simple moving average is $71.55 and its two-hundred day simple moving average is $72.02. Centene has a 1-year low of $59.77 and a 1-year high of $81.42.

Institutional Investors Weigh In On Centene

A number of institutional investors and hedge funds have recently modified their holdings of CNC. EP Wealth Advisors LLC lifted its stake in Centene by 1.0% in the 1st quarter. EP Wealth Advisors LLC now owns 13,604 shares of the company’s stock worth $1,068,000 after purchasing an additional 133 shares in the last quarter. WR Wealth Planners LLC raised its position in shares of Centene by 41.4% in the second quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock worth $31,000 after buying an additional 137 shares in the last quarter. Whittier Trust Co. grew its position in Centene by 10.0% during the second quarter. Whittier Trust Co. now owns 1,562 shares of the company’s stock worth $104,000 after buying an additional 142 shares in the last quarter. Fidelis Capital Partners LLC increased its stake in Centene by 5.0% in the 1st quarter. Fidelis Capital Partners LLC now owns 3,316 shares of the company’s stock worth $260,000 after acquiring an additional 158 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC raised its holdings in shares of Centene by 2.1% in the 3rd quarter. Mount Yale Investment Advisors LLC now owns 8,082 shares of the company’s stock valued at $608,000 after acquiring an additional 167 shares in the last quarter. 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.