Centene (NYSE:CNC) Hits New 12-Month Low - Should You Sell?

Centene Corporation (NYSE:CNC - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $30.59 and last traded at $30.61, with a volume of 14462865 shares traded. The stock had previously closed at $31.44.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CNC shares. Truist Financial lowered their price objective on Centene from $84.00 to $42.00 and set a "buy" rating on the stock in a research note on Wednesday. Mizuho lowered their price objective on Centene from $71.00 to $40.00 and set a "neutral" rating for the company in a research report on Friday, July 11th. Cantor Fitzgerald decreased their target price on Centene from $90.00 to $65.00 and set an "overweight" rating for the company in a research report on Wednesday, July 2nd. Robert W. Baird decreased their target price on Centene from $71.00 to $69.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Finally, Oppenheimer set a $51.00 price objective on Centene and gave the company an "outperform" rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $58.63.

Centene Stock Down 3.8%

The company has a market cap of $13.94 billion, a PE ratio of 4.18, a P/E/G ratio of 0.46 and a beta of 0.44. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a 50-day simple moving average of $50.73 and a two-hundred day simple moving average of $57.25.

Centene (NYSE:CNC - Get Free Report) last issued its earnings results on Friday, April 25th. The company reported $2.90 earnings per share for the quarter, beating analysts' consensus estimates of $2.52 by $0.38. Centene had a return on equity of 14.56% and a net margin of 2.04%. The firm had revenue of $46.62 billion for the quarter, compared to analysts' expectations of $43.16 billion. During the same quarter last year, the firm earned $2.26 earnings per share. The firm's revenue for the quarter was up 15.4% compared to the same quarter last year. Research analysts anticipate that Centene Corporation will post 6.86 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ameriflex Group Inc. acquired a new position in shares of Centene during the fourth quarter worth about $26,000. Pinney & Scofield Inc. acquired a new position in shares of Centene during the fourth quarter worth about $25,000. Hurley Capital LLC acquired a new position in shares of Centene during the fourth quarter worth about $26,000. Quarry LP acquired a new position in shares of Centene during the first quarter worth about $26,000. Finally, Studio Investment Management LLC purchased a new stake in shares of Centene during the fourth quarter worth about $32,000. 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.