Cantor Fitzgerald Has Lowered Expectations for Centene (NYSE:CNC) Stock Price

Centene (NYSE:CNC) had its price objective cut by Cantor Fitzgerald from $90.00 to $65.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock. Cantor Fitzgerald also issued estimates for Centene’s FY2025 earnings at $4.27 EPS and FY2026 earnings at $7.27 EPS.

CNC has been the topic of a number of other research reports. Jefferies Financial Group dropped their price objective on Centene from $64.00 to $61.00 and set a “hold” rating on the stock in a report on Tuesday, April 29th. Wall Street Zen downgraded Centene from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 28th. Morgan Stanley began coverage on Centene in a research report on Monday, June 9th. They set an “overweight” rating and a $70.00 target price on the stock. Robert W. Baird decreased their target price on Centene from $71.00 to $69.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 15th. Finally, Guggenheim reiterated a “neutral” rating on shares of Centene in a research report on Tuesday, April 29th. Ten investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Centene presently has a consensus rating of “Hold” and a consensus price target of $68.87.

Centene Trading Down 1.5%

NYSE:CNC opened at $33.28 on Wednesday. The firm has a market cap of $16.56 billion, a P/E ratio of 4.96, a PEG ratio of 0.45 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 stock’s 50 day simple moving average is $55.93 and its 200-day simple moving average is $59.05. Centene has a 12-month low of $33.30 and a 12-month high of $80.59.

Centene (NYSE:CNC) last announced its quarterly earnings data on Friday, April 25th. The company reported $2.90 earnings per share for the quarter, topping analysts’ consensus estimates of $2.52 by $0.38. Centene had a return on equity of 14.56% and a net margin of 2.04%. The firm had revenue of $46.62 billion for the quarter, compared to analyst estimates of $43.16 billion. During the same quarter in the prior year, the company posted $2.26 earnings per share. Centene’s quarterly revenue was up 15.4% on a year-over-year basis. Equities analysts anticipate that Centene will post 6.86 EPS for the current year.

Hedge Funds Weigh In On Centene

Several institutional investors have recently added to or reduced their stakes in CNC. Pinney & Scofield Inc. acquired a new position in Centene in the fourth quarter valued at $25,000. Hurley Capital LLC acquired a new position in Centene in the fourth quarter valued at $26,000. Ameriflex Group Inc. acquired a new position in Centene in the fourth quarter valued at $26,000. Quarry LP acquired a new stake in Centene during the first quarter worth about $26,000. Finally, Rialto Wealth Management LLC acquired a new position in shares of Centene in the 4th quarter valued at about $30,000. 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.