Robert W. Baird Has Lowered Expectations for Centene (NYSE:CNC) Stock Price

Centene (NYSE:CNC - Free Report) had its target price lowered by Robert W. Baird from $71.00 to $69.00 in a report published on Tuesday morning, MarketBeat reports. The brokerage currently has a neutral rating on the stock.

Several other analysts have also commented on the company. JPMorgan Chase & Co. reaffirmed an "overweight" rating and issued a $75.00 price objective (down previously from $80.00) on shares of Centene in a report on Tuesday, December 17th. Guggenheim assumed coverage on shares of Centene in a research note on Wednesday, April 9th. They issued a "neutral" rating on the stock. Argus lowered shares of Centene from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Wells Fargo & Company decreased their price target on shares of Centene from $76.00 to $72.00 and set an "overweight" rating on the stock in a research report on Friday, February 14th. Finally, StockNews.com upgraded Centene from a "buy" rating to a "strong-buy" rating in a research note on Friday, April 11th. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Centene has a consensus rating of "Moderate Buy" and an average price target of $80.69.

Centene Price Performance

Shares of NYSE CNC traded down $1.28 during mid-day trading on Tuesday, reaching $60.70. 5,758,979 shares of the company were exchanged, compared to its average volume of 4,693,952. The company has a quick ratio of 1.10, a current ratio of 1.11 and a debt-to-equity ratio of 0.70. The company's 50 day moving average price is $59.77 and its 200 day moving average price is $61.38. Centene has a 52 week low of $55.03 and a 52 week high of $80.59. The stock has a market capitalization of $30.11 billion, a PE ratio of 9.73, a PEG ratio of 0.80 and a beta of 0.53.

Centene (NYSE:CNC - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.49 by $0.31. The firm had revenue of $40.81 billion for the quarter, compared to analyst estimates of $38.78 billion. Centene had a return on equity of 13.85% and a net margin of 2.03%. The business's quarterly revenue was up 3.4% compared to the same quarter last year. During the same period last year, the company earned $0.45 EPS. Sell-side analysts forecast that Centene will post 6.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Centene

Hedge funds have recently modified their holdings of the company. Capital Advisors Ltd. LLC boosted its position in Centene by 75.3% in the 4th quarter. Capital Advisors Ltd. LLC now owns 412 shares of the company's stock valued at $25,000 after buying an additional 177 shares during the period. Pinney & Scofield Inc. purchased a new stake in Centene in the 4th quarter valued at approximately $25,000. Hurley Capital LLC acquired a new position in shares of Centene during the 4th quarter worth $26,000. Ameriflex Group Inc. purchased a new stake in Centene during the 4th quarter worth about $26,000. Finally, Rialto Wealth Management LLC acquired a new position in Centene in the 4th quarter valued at about $30,000. Hedge funds and other 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.