Centene (NYSE:CNC) Receives Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Centene (NYSE:CNC) in a research report sent to investors on Tuesday, Benzinga reports. Cantor Fitzgerald currently has a $90.00 price target on the stock.

CNC has been the subject of several other research reports. Jefferies Financial Group cut shares of Centene from a buy rating to a hold rating and reduced their target price for the stock from $83.00 to $69.00 in a report on Wednesday, July 24th. Stephens reissued an equal weight rating and set a $78.00 target price on shares of Centene in a report on Monday, August 5th. Truist Financial dropped their price target on shares of Centene from $92.00 to $89.00 and set a buy rating on the stock in a research report on Monday, July 15th. Wells Fargo & Company dropped their price target on shares of Centene from $93.00 to $91.00 and set an overweight rating on the stock in a research report on Friday, September 13th. Finally, Oppenheimer dropped their price target on shares of Centene from $110.00 to $95.00 and set an outperform rating on the stock in a research report on Monday, July 29th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $85.58.

Centene Trading Up 0.1 %

NYSE CNC opened at $72.08 on Tuesday. The company has a fifty day simple moving average of $75.80 and a two-hundred day simple moving average of $73.27. The stock has a market cap of $38.47 billion, a P/E ratio of 14.33, a P/E/G ratio of 1.02 and a beta of 0.48. Centene has a 12-month low of $63.45 and a 12-month high of $81.42. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.64.

Centene (NYSE:CNC) last issued its earnings results on Friday, July 26th. The company reported $2.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.02). Centene had a return on equity of 14.45% and a net margin of 1.79%. The business had revenue of $39.84 billion for the quarter, compared to analysts’ expectations of $36.83 billion. During the same period last year, the business earned $2.10 EPS. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. On average, analysts forecast that Centene will post 6.8 earnings per share for the current year.

Institutional Trading of Centene

Several institutional investors have recently modified their holdings of CNC. Rise Advisors LLC acquired a new stake in shares of Centene in the first quarter valued at about $25,000. WR Wealth Planners LLC boosted its position in Centene by 41.4% during the second quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock worth $31,000 after acquiring an additional 137 shares during the last quarter. Chris Bulman Inc acquired a new position in Centene during the second quarter worth about $33,000. Riverview Trust Co boosted its position in Centene by 154.6% during the second quarter. Riverview Trust Co now owns 527 shares of the company’s stock worth $35,000 after acquiring an additional 320 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in Centene during the second quarter worth about $36,000. Institutional investors and hedge funds own 93.63% of the company’s stock.

About Centene

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.