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

Centene (NYSE:CNC) had its price objective lowered by Barclays from $97.00 to $91.00 in a research report report published on Tuesday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other analysts also recently commented on CNC. Cantor Fitzgerald reissued an “overweight” rating and set a $90.00 price objective on shares of Centene in a report on Tuesday, October 1st. Truist Financial reduced their price objective on Centene from $92.00 to $89.00 and set a “buy” rating for the company in a report on Monday, July 15th. Jefferies Financial Group lowered Centene from a “buy” rating to a “hold” rating and lowered their target price for the company from $83.00 to $69.00 in a report on Wednesday, July 24th. Oppenheimer cut their price target on Centene from $110.00 to $95.00 and set an “outperform” rating for the company in a research note on Monday, July 29th. Finally, Robert W. Baird dropped their target price on shares of Centene from $83.00 to $66.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Centene currently has a consensus rating of “Moderate Buy” and an average price target of $84.00.

Centene Trading Up 2.0 %

Shares of CNC stock opened at $63.52 on Tuesday. The firm has a market capitalization of $33.41 billion, a PE ratio of 11.03, a P/E/G ratio of 0.85 and a beta of 0.48. Centene has a 1-year low of $59.77 and a 1-year high of $81.42. The business’s fifty day moving average price is $71.25 and its 200 day moving average price is $71.96. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.10 and a quick ratio of 1.17.

Institutional Investors Weigh In On Centene

Hedge funds and other institutional investors have recently made changes to their positions in the business. Swedbank AB acquired a new position in shares of Centene during the 1st quarter valued at about $914,080,000. Capital International Investors increased its position in Centene by 60.2% during the first quarter. Capital International Investors now owns 5,216,486 shares of the company’s stock worth $409,390,000 after purchasing an additional 1,959,460 shares during the last quarter. AQR Capital Management LLC raised its stake in Centene by 22.9% during the second quarter. AQR Capital Management LLC now owns 4,461,517 shares of the company’s stock worth $295,799,000 after purchasing an additional 832,318 shares during the period. Legal & General Group Plc boosted its holdings in shares of Centene by 14.2% in the 2nd quarter. Legal & General Group Plc now owns 5,113,759 shares of the company’s stock valued at $339,042,000 after purchasing an additional 636,683 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ grew its stake in shares of Centene by 42.3% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 1,400,276 shares of the company’s stock valued at $92,838,000 after buying an additional 416,003 shares during the period. Hedge funds and other 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.