Centene (NYSE:CNC) Price Target Raised to $82.00

Centene (NYSE:CNC) had its price target lifted by Barclays from $80.00 to $82.00 in a research note published on Wednesday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research firms have also recently issued reports on CNC. Mizuho set a $72.00 price objective on Centene in a report on Wednesday. Zacks Research downgraded shares of Centene from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Bank of America reissued a “buy” rating and issued a $82.00 target price (up from $80.00) on shares of Centene in a research note on Wednesday. Robert W. Baird upped their price target on shares of Centene from $66.00 to $71.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $79.00 price target (up from $68.00) on shares of Centene in a report on Monday, August 3rd. Nine analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $73.60.

Centene Price Performance

Shares of CNC opened at $68.42 on Wednesday. Centene has a twelve month low of $31.63 and a twelve month high of $72.50. The stock’s 50 day moving average is $66.09 and its two-hundred day moving average is $55.26. The firm has a market capitalization of $33.87 billion, a PE ratio of 23.43, a P/E/G ratio of 0.40 and a beta of 1.13. The company has a current ratio of 1.16, a quick ratio of 1.15 and a debt-to-equity ratio of 0.69.

Centene (NYSE:CNC) last released its quarterly earnings results on Tuesday, October 27th. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.48. The business had revenue of $50.65 billion for the quarter, compared to analysts’ expectations of $47.12 billion. Centene had a return on equity of 12.15% and a net margin of 0.72%. The company’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.50 EPS. Research analysts anticipate that Centene will post 5.22 earnings per share for the current year.

Insider Transactions at Centene

In other news, General Counsel Christopher Koster sold 56,500 shares of Centene stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $66.90, for a total transaction of $3,779,850.00. Following the sale, the general counsel owned 248,854 shares in the company, valued at $16,648,332.60. This trade represents a 18.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.37% of the stock is owned by company insiders.

Institutional Investors Weigh In On Centene

A number of large investors have recently added to or reduced their stakes in CNC. Covestor Ltd lifted its holdings in Centene by 119.5% in the 3rd quarter. Covestor Ltd now owns 933 shares of the company’s stock worth $58,000 after buying an additional 508 shares in the last quarter. Caldwell Trust Co acquired a new stake in shares of Centene during the third quarter valued at about $193,000. Rakuten Investment Management Inc. grew its stake in shares of Centene by 13.6% during the third quarter. Rakuten Investment Management Inc. now owns 88,654 shares of the company’s stock valued at $5,515,000 after acquiring an additional 10,622 shares in the last quarter. Provenance Wealth Advisors LLC increased its position in shares of Centene by 14,116.7% during the third quarter. Provenance Wealth Advisors LLC now owns 2,559 shares of the company’s stock worth $159,000 after acquiring an additional 2,541 shares during the last quarter. Finally, Integrity Alliance LLC. purchased a new stake in shares of Centene during the third quarter worth about $1,270,000. 93.63% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Centene

Here are the key news stories impacting Centene this week:

• Positive Sentiment: Analysts continue to raise price targets. Wells Fargo lifted its target from $69 to $75 while maintaining an “equal weight” rating. JPMorgan also raised its target from $67 to $75, and UBS increased its target from $70 to $78. These revisions suggest analysts see additional value after Centene’s earnings update, even though the ratings remain cautious. Wells Fargo analyst update JPMorgan analyst update UBS analyst update
• Positive Sentiment: Strong quarterly results and higher guidance support the stock. Centene exceeded earnings and revenue expectations, and its quarterly revenue increased year over year. The company’s guidance increase reinforces expectations for improved profitability and prompted additional analyst optimism. Centene Q3 earnings and guidance Centene guidance increase
• Neutral Sentiment: Analyst ratings remain restrained. Wells Fargo and UBS retain “equal weight” or “neutral” recommendations, indicating that the higher targets reflect moderate appreciation potential rather than a strong conviction that CNC is significantly undervalued. Centene analyst price target update
• Negative Sentiment: Membership pressure remains a key risk. Coverage has highlighted lingering membership challenges and uncertainty over whether Centene can maintain a stable health benefits ratio. These issues could offset the benefit of stronger earnings and guidance if they pressure margins or future revenue growth. Centene membership pressures Centene health benefits ratio analysis

About Centene

Centene Corporation is a diversified healthcare enterprise that provides government-sponsored and commercial health insurance programs and related healthcare services. The company’s offerings are primarily focused on Medicaid, Medicare, and health insurance marketplace plans, with an emphasis on serving individuals and families who may have limited access to traditional healthcare coverage.

Centene operates Medicaid health plans through state-based contracts and offers Medicare Advantage, Medicare prescription drug, and Medicare Supplement products through its Wellcare brand.