Truist Financial Lowers Centene (NYSE:CNC) Price Target to $89.00

Centene (NYSE:CNC) had its target price cut by Truist Financial from $92.00 to $89.00 in a research report report published on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts have also commented on CNC. Jefferies Financial Group cut their price target on Centene from $90.00 to $83.00 and set a buy rating for the company in a report on Thursday, July 11th. Wells Fargo & Company upped their price target on Centene from $89.00 to $93.00 and gave the stock an overweight rating in a report on Monday, April 15th. Barclays upped their price target on Centene from $101.00 to $104.00 and gave the stock an overweight rating in a report on Thursday, May 2nd. Stephens restated an equal weight rating and issued a $83.00 target price on shares of Centene in a research note on Thursday, May 30th. Finally, Robert W. Baird started coverage on Centene in a research note on Thursday, May 30th. They issued a neutral rating and a $83.00 target price for the company. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Hold and an average target price of $86.23.

Centene Stock Down 3.1 %

CNC opened at $65.69 on Monday. The business has a 50 day moving average price of $70.26 and a 200 day moving average price of $74.15. Centene has a twelve month low of $60.83 and a twelve month high of $81.42. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.17 and a current ratio of 1.17. The firm has a market cap of $35.06 billion, a P/E ratio of 13.06, a price-to-earnings-growth ratio of 0.89 and a beta of 0.50.

Centene (NYSE:CNC) last issued its quarterly earnings results on Friday, April 26th. The company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.09 by $0.17. Centene had a return on equity of 14.19% and a net margin of 1.76%. The company had revenue of $40.41 billion during the quarter, compared to analyst estimates of $36.43 billion. During the same period in the previous year, the company earned $2.11 earnings per share. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. Research analysts forecast that Centene will post 6.8 EPS for the current year.

Insider Buying and Selling at Centene

In other news, Director Christopher J. Coughlin sold 878 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $76.75, for a total value of $67,386.50. Following the completion of the sale, the director now directly owns 25,504 shares in the company, valued at $1,957,432. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Christopher J. Coughlin sold 878 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $76.75, for a total transaction of $67,386.50. Following the sale, the director now directly owns 25,504 shares of the company’s stock, valued at $1,957,432. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Kenneth J. Fasola sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $77.62, for a total transaction of $620,960.00. Following the completion of the transaction, the president now owns 300,357 shares of the company’s stock, valued at approximately $23,313,710.34. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Centene

Institutional investors and hedge funds have recently made changes to their positions in the company. Rise Advisors LLC bought a new stake in shares of Centene during the first quarter worth $25,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Centene during the fourth quarter worth $25,000. Riggs Asset Managment Co. Inc. bought a new stake in shares of Centene during the fourth quarter worth $32,000. Riverview Trust Co increased its holdings in Centene by 154.6% in the second quarter. Riverview Trust Co now owns 527 shares of the company’s stock valued at $35,000 after purchasing an additional 320 shares during the last quarter. Finally, Neo Ivy Capital Management bought a new stake in Centene in the fourth quarter valued at about $40,000. 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.