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Mizuho Cuts Centene (NYSE:CNC) Price Target to $40.00

Centene logo with Medical background

Centene (NYSE:CNC - Get Free Report) had its target price dropped by research analysts at Mizuho from $71.00 to $40.00 in a report released on Friday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Mizuho's price objective would indicate a potential upside of 26.19% from the company's current price.

Several other analysts have also recently weighed in on the stock. Morgan Stanley cut shares of Centene from an "overweight" rating to an "equal weight" rating and dropped their price target for the company from $70.00 to $33.00 in a research note on Thursday. Cantor Fitzgerald lowered their price objective on shares of Centene from $90.00 to $65.00 and set an "overweight" rating for the company in a research report on Wednesday, July 2nd. Wall Street Zen cut shares of Centene from a "strong-buy" rating to a "buy" rating in a research report on Monday, April 28th. Jefferies Financial Group lowered their price objective on shares of Centene from $64.00 to $61.00 and set a "hold" rating for the company in a research report on Tuesday, April 29th. Finally, Bank of America lowered their price objective on shares of Centene from $65.00 to $52.00 and set a "neutral" rating for the company in a research report on Wednesday, July 2nd. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $64.75.

View Our Latest Research Report on CNC

Centene Price Performance

CNC traded down $0.82 on Friday, reaching $31.70. 9,356,266 shares of the company's stock were exchanged, compared to its average volume of 5,733,552. The stock has a market cap of $15.77 billion, a PE ratio of 4.73, a P/E/G ratio of 0.49 and a beta of 0.44. Centene has a twelve month low of $31.49 and a twelve month high of $80.59. The stock's fifty day moving average price is $53.79 and its 200-day moving average price is $58.30. 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 posted its earnings results on Friday, April 25th. The company reported $2.90 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.38. Centene had a net margin of 2.04% and a return on equity of 14.56%. The company had revenue of $46.62 billion for the quarter, compared to analyst estimates of $43.16 billion. During the same period in the previous year, the business posted $2.26 EPS. Centene's revenue was up 15.4% on a year-over-year basis. Sell-side analysts expect that Centene will post 6.86 EPS for the current year.

Institutional Investors Weigh In On Centene

Hedge funds and other institutional investors have recently modified their holdings of the company. Pinney & Scofield Inc. acquired a new stake in shares of Centene in the 4th quarter valued at $25,000. Hurley Capital LLC acquired a new stake in shares of Centene in the 4th quarter valued at $26,000. Ameriflex Group Inc. acquired a new stake in shares of Centene in the 4th quarter valued at $26,000. Quarry LP acquired a new stake in Centene during the 1st quarter worth $26,000. Finally, Studio Investment Management LLC acquired a new stake in Centene during the 4th quarter worth $32,000. 93.63% of the stock is currently owned by institutional investors and hedge funds.

About Centene

(Get Free Report)

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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Analyst Recommendations for Centene (NYSE:CNC)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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