Deutsche Bank Lowers Centene (NYSE:CNC) Price Target to $60.00

Centene (NYSE:CNC) had its price target lowered by Deutsche Bank from $62.00 to $60.00 in a research report issued on Wednesday, BenzingaRatingsTable reports. The brokerage presently has a “buy” rating on the stock. Deutsche Bank’s price objective would suggest a potential upside of 23.94% from the stock’s current price.

A number of other brokerages also recently issued reports on CNC. Morgan Stanley cut their target price on Centene from $64.00 to $62.00 and set an “overweight” rating for the company in a research note on Thursday, September 26th. Credit Suisse Group reissued a “neutral” rating and set a $57.00 target price (down from $63.00) on shares of Centene in a research note on Wednesday. ValuEngine raised Centene from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Finally, Zacks Investment Research downgraded Centene from a “hold” rating to a “sell” rating and set a $50.00 target price for the company. in a research note on Friday, October 18th. Two analysts have rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $70.86.

CNC traded down $0.34 on Wednesday, hitting $48.41. 249,706 shares of the company traded hands, compared to its average volume of 5,007,123. The company has a 50 day moving average of $45.22 and a 200-day moving average of $50.62. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $18.93 billion, a PE ratio of 13.69, a PEG ratio of 0.73 and a beta of 0.86. Centene has a 12-month low of $41.62 and a 12-month high of $74.49.

Centene (NYSE:CNC) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $0.96 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.01. The firm had revenue of $18.98 billion during the quarter, compared to the consensus estimate of $18.39 billion. Centene had a return on equity of 15.87% and a net margin of 1.84%. The firm’s revenue was up 17.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.79 EPS. On average, research analysts anticipate that Centene will post 4.41 EPS for the current year.

In other Centene news, Director Jessica L. Blume bought 2,850 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was acquired at an average cost of $52.99 per share, with a total value of $151,021.50. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 2.50% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NumerixS Investment Technologies Inc increased its stake in Centene by 7.2% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 46,079 shares of the company’s stock valued at $2,416,000 after purchasing an additional 3,079 shares in the last quarter. Artemis Investment Management LLP grew its holdings in Centene by 173.0% during the 2nd quarter. Artemis Investment Management LLP now owns 463,362 shares of the company’s stock valued at $24,237,000 after buying an additional 293,654 shares during the last quarter. AMF Pensionsforsakring AB grew its holdings in Centene by 7.5% during the 2nd quarter. AMF Pensionsforsakring AB now owns 351,999 shares of the company’s stock valued at $18,459,000 after buying an additional 24,640 shares during the last quarter. CENTRAL TRUST Co grew its holdings in Centene by 79.4% during the 2nd quarter. CENTRAL TRUST Co now owns 33,478 shares of the company’s stock valued at $1,781,000 after buying an additional 14,815 shares during the last quarter. Finally, Cooperman Leon G grew its holdings in Centene by 27.3% during the 2nd quarter. Cooperman Leon G now owns 350,000 shares of the company’s stock valued at $18,354,000 after buying an additional 75,000 shares during the last quarter. 96.85% of the stock is owned by hedge funds and other institutional investors.

About Centene

Centene Corporation operates as a diversified and multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. The company's Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term services and support, foster care, and medicare-medicaid plans, which covers dually eligible individuals, as well as aged, blind, or disabled programs.

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Analyst Recommendations for Centene (NYSE:CNC)

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