Sanford C. Bernstein Raises Centene (NYSE:CNC) Price Target to $108.00

Centene (NYSE:CNC) had its target price boosted by Sanford C. Bernstein from $94.00 to $108.00 in a research note published on Tuesday morning, The Fly reports.

Other research analysts have also recently issued reports about the company. Barclays assumed coverage on Centene in a report on Friday, January 7th. They issued an overweight rating and a $95.00 price target on the stock. TheStreet raised Centene from a c+ rating to a b rating in a report on Wednesday, November 3rd. Wells Fargo & Company lifted their price objective on Centene from $88.00 to $90.00 and gave the stock an overweight rating in a research note on Monday, December 13th. Truist Securities lifted their price objective on Centene from $94.00 to $96.00 and gave the stock a buy rating in a research note on Wednesday, January 5th. Finally, Truist Financial lifted their price objective on Centene from $90.00 to $94.00 and gave the stock a buy rating in a research note on Monday, December 13th. Six analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Buy and an average target price of $89.43.

CNC stock opened at $80.55 on Tuesday. Centene has a twelve month low of $57.16 and a twelve month high of $85.44. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.70. The stock has a market cap of $47.00 billion, a P/E ratio of 64.96, a PEG ratio of 1.14 and a beta of 0.54. The business’s 50-day moving average price is $77.83 and its 200-day moving average price is $70.83.

Centene (NYSE:CNC) last posted its quarterly earnings results on Monday, October 25th. The company reported $1.26 EPS for the quarter, missing the Zacks’ consensus estimate of $1.29 by ($0.03). Centene had a return on equity of 10.33% and a net margin of 0.60%. The business had revenue of $32.41 billion during the quarter, compared to analysts’ expectations of $31.63 billion. During the same period in the prior year, the firm posted $1.26 earnings per share. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. On average, equities research analysts expect that Centene will post 5.12 earnings per share for the current fiscal year.

In other Centene news, EVP Colin A. Toney sold 2,807 shares of the company’s stock in a transaction on Tuesday, December 21st. The stock was sold at an average price of $82.94, for a total value of $232,812.58. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Orlando Ayala sold 7,586 shares of the company’s stock in a transaction on Wednesday, December 15th. The shares were sold at an average price of $82.99, for a total value of $629,562.14. The disclosure for this sale can be found here. In the last three months, insiders have sold 127,419 shares of company stock worth $9,752,253. Corporate insiders own 1.80% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Harbor Investment Advisory LLC lifted its holdings in shares of Centene by 3.6% in the 4th quarter. Harbor Investment Advisory LLC now owns 3,929 shares of the company’s stock worth $324,000 after buying an additional 138 shares during the period. Exencial Wealth Advisors LLC lifted its holdings in shares of Centene by 1.3% in the 3rd quarter. Exencial Wealth Advisors LLC now owns 13,254 shares of the company’s stock worth $826,000 after buying an additional 169 shares during the period. Glassman Wealth Services lifted its holdings in shares of Centene by 50.0% in the 3rd quarter. Glassman Wealth Services now owns 621 shares of the company’s stock worth $39,000 after buying an additional 207 shares during the period. Smith Moore & CO. lifted its holdings in shares of Centene by 1.9% in the 2nd quarter. Smith Moore & CO. now owns 11,978 shares of the company’s stock worth $874,000 after buying an additional 219 shares during the period. Finally, JJJ Advisors Inc. lifted its holdings in shares of Centene by 90.2% in the 3rd quarter. JJJ Advisors Inc. now owns 485 shares of the company’s stock worth $30,000 after buying an additional 230 shares during the period. 90.60% of the stock is currently owned by institutional investors.

About Centene

Centene Corp. operates as a healthcare enterprise, which engages in the provision of programs and services to government sponsored healthcare programs. It operates through the following segments: Managed Care and Specialty Services. The Medicaid Managed Care segment provides health plan coverage to individuals through government subsidized programs through Medicaid.

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