Centene (NYSE:CNC) PT Set at $51.00 by Oppenheimer

Oppenheimer set a $51.00 price objective on Centene (NYSE:CNC - Free Report) in a report published on Tuesday, MarketBeat reports. The brokerage currently has an outperform rating on the stock.

Several other equities research analysts have also issued reports on the stock. Cantor Fitzgerald decreased their price target on shares of Centene from $90.00 to $65.00 and set an "overweight" rating for the company in a research note on Wednesday, July 2nd. Wall Street Zen lowered shares of Centene from a "buy" rating to a "hold" rating in a research note on Saturday. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $48.00 price objective (down from $75.00) on shares of Centene in a research note on Wednesday, July 2nd. UBS Group reiterated a "neutral" rating and issued a $45.00 price objective (down from $80.00) on shares of Centene in a research note on Wednesday, July 2nd. Finally, Mizuho reduced their price target on shares of Centene from $71.00 to $40.00 and set a "neutral" rating for the company in a research report on Friday, July 11th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $58.63.

Centene Stock Up 1.3%

NYSE CNC traded up $0.38 during trading hours on Tuesday, hitting $30.38. The company's stock had a trading volume of 8,688,857 shares, compared to its average volume of 5,858,283. Centene has a 52 week low of $29.56 and a 52 week high of $80.59. The company has a market capitalization of $15.12 billion, a PE ratio of 4.54, a price-to-earnings-growth ratio of 0.49 and a beta of 0.44. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.65. The company's 50-day simple moving average is $52.04 and its two-hundred day simple moving average is $57.66.

Centene (NYSE:CNC - Get Free Report) last announced its quarterly 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. The business had revenue of $46.62 billion for the quarter, compared to analysts' expectations of $43.16 billion. Centene had a net margin of 2.04% and a return on equity of 14.56%. The firm's revenue for the quarter was up 15.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.26 EPS. Research analysts anticipate that Centene will post 6.86 EPS for the current fiscal year.

Institutional Investors Weigh In On Centene

A number of institutional investors have recently made changes to their positions in CNC. Pinney & Scofield Inc. purchased a new stake in shares of Centene in the 4th quarter worth about $25,000. Hurley Capital LLC purchased a new position in shares of Centene during the 4th quarter worth about $26,000. Ameriflex Group Inc. purchased a new position in shares of Centene during the 4th quarter worth about $26,000. Quarry LP purchased a new position in shares of Centene during the 1st quarter worth about $26,000. Finally, Studio Investment Management LLC purchased a new position in shares of Centene during the 4th quarter worth about $32,000. 93.63% of the stock is currently owned by institutional investors and hedge funds.

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.