Centene (NYSE:CNC) Price Target Cut to $91.00 by Analysts at Barclays

Centene (NYSE:CNC - Get Free Report) had its price target lowered by analysts at Barclays from $97.00 to $91.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Barclays's price objective suggests a potential upside of 50.09% from the company's previous close.

Other research analysts also recently issued reports about the company. Jefferies Financial Group lowered shares of Centene from a "buy" rating to a "hold" rating and dropped their price objective for the company from $83.00 to $69.00 in a report on Wednesday, July 24th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $90.00 price target on shares of Centene in a report on Tuesday, October 1st. Robert W. Baird decreased their price objective on Centene from $83.00 to $66.00 and set a "neutral" rating for the company in a report on Friday. Truist Financial cut their target price on Centene from $92.00 to $89.00 and set a "buy" rating on the stock in a report on Monday, July 15th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Centene from $82.00 to $87.00 and gave the company a "hold" rating in a research note on Friday, August 2nd. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Centene has an average rating of "Moderate Buy" and a consensus target price of $83.67.

Centene Price Performance

Shares of CNC traded down $1.02 during mid-day trading on Tuesday, reaching $60.63. The company had a trading volume of 6,381,957 shares, compared to its average volume of 3,830,466. Centene has a 1-year low of $59.77 and a 1-year high of $81.42. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.17 and a current ratio of 1.17. The company has a market capitalization of $32.36 billion, a price-to-earnings ratio of 12.17, a P/E/G ratio of 0.98 and a beta of 0.48. The company's 50 day simple moving average is $72.55 and its 200 day simple moving average is $72.24.

Centene (NYSE:CNC - Get Free Report) last released its quarterly earnings results on Friday, July 26th. The company reported $2.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.02). The business had revenue of $39.84 billion for the quarter, compared to the consensus estimate of $36.83 billion. Centene had a net margin of 1.79% and a return on equity of 14.45%. Centene's revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the business posted $2.10 EPS. Analysts expect that Centene will post 6.8 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Park Place Capital Corp increased its stake in shares of Centene by 1,190.0% during the third quarter. Park Place Capital Corp now owns 387 shares of the company's stock valued at $29,000 after buying an additional 357 shares during the period. WR Wealth Planners LLC boosted its stake in shares of Centene by 41.4% during the 2nd quarter. WR Wealth Planners LLC now owns 468 shares of the company's stock valued at $31,000 after purchasing an additional 137 shares in the last quarter. Chris Bulman Inc bought a new position in Centene in the second quarter worth about $33,000. Riverview Trust Co lifted its holdings in Centene by 154.6% in the second quarter. Riverview Trust Co now owns 527 shares of the company's stock worth $35,000 after buying an additional 320 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in Centene during the 2nd quarter valued at approximately $36,000. Institutional investors own 93.63% of the company's stock.

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.