Centene (NYSE:CNC) Price Target Lowered to $28.00 at Robert W. Baird

Key Points

• The price target for Centene has been significantly reduced by Robert W. Baird from $68.00 to $28.00, maintaining a "neutral" rating on the stock, which indicates a potential upside of 4.80%.
• Other analysts have also lowered their price targets for Centene, with TD Cowen setting it at $33.00 and Mizuho at $40.00, amidst a general trend of downgrades in recent assessments.
• Centene's stock has faced substantial volatility, having a 1-year low of $26.66 and a high of $80.59, with shares opening at $26.72 on Friday.

Centene (NYSE:CNC - Get Free Report) had its price objective decreased by equities researchers at Robert W. Baird from $68.00 to $28.00 in a report issued on Friday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Robert W. Baird's price target indicates a potential upside of 4.80% from the company's current price.

Several other research analysts also recently weighed in on CNC. TD Cowen restated a "hold" rating and issued a $33.00 price target (down from $73.00) on shares of Centene in a research note on Monday. Mizuho dropped their price target on Centene from $71.00 to $40.00 and set a "neutral" rating for the company in a research note on Friday, July 11th. Oppenheimer set a $51.00 price target on Centene and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Truist Financial dropped their price target on Centene from $84.00 to $42.00 and set a "buy" rating for the company in a research note on Wednesday, July 16th. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating and set a $48.00 target price (down from $75.00) on shares of Centene in a research report on Wednesday, July 2nd. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $49.94.

Centene Stock Performance

Shares of Centene stock opened at $26.72 on Friday. The stock has a market cap of $13.29 billion, a price-to-earnings ratio of 3.98, a PEG ratio of 0.55 and a beta of 0.44. The firm's 50-day moving average is $47.43 and its 200 day moving average is $56.11. Centene has a 1 year low of $26.66 and a 1 year high of $80.59. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.11 and a quick ratio of 1.11.

Centene (NYSE:CNC - Get Free Report) last announced its quarterly earnings results on Friday, July 25th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.07 by ($2.23). Centene had a return on equity of 14.56% and a net margin of 2.04%. During the same quarter in the prior year, the firm posted $2.42 earnings per share. Sell-side analysts anticipate that Centene will post 6.86 EPS for the current fiscal year.

Hedge Funds Weigh In On Centene

Institutional investors have recently made changes to their positions in the company. Pinney & Scofield Inc. acquired a new stake in shares of Centene during the fourth quarter worth about $25,000. Hurley Capital LLC purchased a new stake in shares of Centene during the fourth quarter worth approximately $26,000. Ameriflex Group Inc. purchased a new stake in shares of Centene during the fourth quarter worth approximately $26,000. Quarry LP purchased a new stake in shares of Centene during the first quarter worth approximately $26,000. Finally, Studio Investment Management LLC purchased a new stake in shares of Centene during the fourth quarter worth approximately $32,000. Hedge funds and other institutional investors own 93.63% of the company's stock.

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.

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