Centene (NYSE:CNC) Price Target Lowered to $89.00 at Wells Fargo & Company

Centene (NYSE:CNC - Free Report) had its price objective reduced by Wells Fargo & Company from $94.00 to $89.00 in a research note published on Monday, Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms also recently issued reports on CNC. Truist Financial boosted their price target on Centene from $83.00 to $86.00 and gave the company a buy rating in a research note on Thursday, December 21st. Cantor Fitzgerald reaffirmed an overweight rating and issued a $90.00 target price on shares of Centene in a report on Thursday. StockNews.com cut Centene from a strong-buy rating to a buy rating in a report on Thursday, March 28th. Stephens reaffirmed an equal weight rating and issued a $85.00 target price (down previously from $92.00) on shares of Centene in a report on Thursday, March 21st. Finally, Barclays assumed coverage on Centene in a research note on Wednesday, March 6th. They issued an overweight rating and a $101.00 price target for the company. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $85.08.

Centene Stock Up 0.3 %

NYSE CNC traded up $0.21 during trading on Monday, hitting $72.99. The stock had a trading volume of 2,969,420 shares, compared to its average volume of 3,046,832. The company has a market capitalization of $39.04 billion, a PE ratio of 14.87, a P/E/G ratio of 0.90 and a beta of 0.38. The company's 50-day moving average price is $77.07 and its two-hundred day moving average price is $74.44. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.11 and a current ratio of 1.11. Centene has a 12 month low of $60.83 and a 12 month high of $81.42.

Centene (NYSE:CNC - Get Free Report) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.02. The firm had revenue of $39.46 billion for the quarter, compared to analyst estimates of $36.16 billion. Centene had a return on equity of 14.26% and a net margin of 1.75%. The business's quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.86 EPS. As a group, sell-side analysts forecast that Centene will post 6.75 EPS for the current year.

Insider Buying and Selling

In related news, Director Lori Jean Robinson sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $77.41, for a total transaction of $774,100.00. Following the completion of the sale, the director now owns 11,455 shares of the company's stock, valued at $886,731.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Centene news, Director Lori Jean Robinson sold 10,000 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $77.41, for a total value of $774,100.00. Following the transaction, the director now owns 11,455 shares in the company, valued at $886,731.55. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President Kenneth J. Fasola sold 12,000 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $75.07, for a total value of $900,840.00. Following the completion of the transaction, the president now owns 235,365 shares in the company, valued at approximately $17,668,850.55. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CNC. First Hawaiian Bank lifted its holdings in shares of Centene by 1.2% in the first quarter. First Hawaiian Bank now owns 21,206 shares of the company's stock valued at $1,664,000 after purchasing an additional 245 shares in the last quarter. Insight Wealth Strategies LLC lifted its holdings in shares of Centene by 2.2% in the first quarter. Insight Wealth Strategies LLC now owns 26,497 shares of the company's stock valued at $2,079,000 after purchasing an additional 569 shares in the last quarter. Davis Capital Management lifted its holdings in shares of Centene by 5.7% in the first quarter. Davis Capital Management now owns 14,449 shares of the company's stock valued at $1,123,000 after purchasing an additional 775 shares in the last quarter. Kapitalo Investimentos Ltda bought a new position in shares of Centene in the fourth quarter valued at approximately $668,000. Finally, HighPoint Advisor Group LLC bought a new position in shares of Centene in the fourth quarter valued at approximately $210,000. Institutional investors 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.