JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Centene (NYSE:CNC) Stock

Key Points

• JPMorgan raised Centene’s price target from $60 to $67 while maintaining a “neutral” rating, implying 4.39% upside from the stock’s current price.
• Analyst sentiment remains mixed, with Centene carrying an overall “Hold” rating and an average price target of $68.58; targets from other firms range from $63 to $80.
• Centene recently exceeded quarterly expectations, reporting $2.51 in earnings per share versus a $1.09 consensus estimate and revenue of $53.58 billion, up 9.9% year over year.

Centene (NYSE:CNC - Get Free Report) had its price target hoisted by equities researchers at JPMorgan Chase & Co. from $60.00 to $67.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 4.39% from the stock's current price.

A number of other equities research analysts also recently weighed in on CNC. Deutsche Bank Aktiengesellschaft raised Centene from a "hold" rating to a "buy" rating and raised their price target for the stock from $53.00 to $80.00 in a research note on Wednesday, May 20th. TD Cowen reaffirmed a "hold" rating and set a $65.00 price objective (up from $47.00) on shares of Centene in a research report on Tuesday, July 14th. Raymond James Financial set a $75.00 target price on shares of Centene in a research report on Tuesday, July 7th. Mizuho set a $63.00 price target on shares of Centene and gave the stock a "neutral" rating in a research note on Monday, June 8th. Finally, Barclays reaffirmed an "overweight" rating and issued a $80.00 price objective (up from $75.00) on shares of Centene in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $68.58.

Centene Stock Up 0.7%

CNC stock traded up $0.42 during midday trading on Tuesday, reaching $64.18. The company had a trading volume of 3,349,935 shares, compared to its average volume of 6,094,552. The company has a 50 day moving average of $63.96 and a two-hundred day moving average of $50.42. The company has a market capitalization of $31.71 billion, a P/E ratio of -6.14, a PEG ratio of 0.33 and a beta of 1.07. Centene has a 1 year low of $25.08 and a 1 year high of $69.36. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.71.

Centene (NYSE:CNC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $2.51 earnings per share for the quarter, topping analysts' consensus estimates of $1.09 by $1.42. The business had revenue of $53.58 billion for the quarter, compared to the consensus estimate of $47.64 billion. Centene had a negative net margin of 2.51% and a positive return on equity of 12.12%. Centene's revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.16) earnings per share. Centene has set its FY 2026 guidance at 4.800- EPS. On average, equities research analysts expect that Centene will post 4.89 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Trust Asset Management LLC bought a new position in Centene in the 2nd quarter worth $346,000. Tema ETFs LLC grew its position in shares of Centene by 10.4% in the second quarter. Tema ETFs LLC now owns 9,261 shares of the company's stock valued at $594,000 after purchasing an additional 870 shares during the last quarter. Fulton Bank N.A. bought a new position in shares of Centene in the second quarter worth about $296,000. Wealthcare Advisory Partners LLC acquired a new position in shares of Centene during the 2nd quarter worth about $250,000. Finally, World Equity Group Inc. bought a new stake in Centene during the 2nd quarter valued at approximately $535,000. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Centene Company Profile

Centene Corporation NYSE: CNC is a diversified, multi-national healthcare enterprise that specializes in providing services to government-sponsored and national health programs. The company primarily acts as a managed care organization, delivering healthcare coverage and administering benefits for Medicaid, the Children's Health Insurance Program (CHIP), Medicare Advantage, and individual marketplace plans. Centene also contracts with federal and state agencies to manage specialty care programs and community-based services for vulnerable populations.

Centene's offerings extend beyond traditional insurance to include a range of specialty and support services.

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