Centene (NYSE:CNC) Given New $87.00 Price Target at Deutsche Bank Aktiengesellschaft

Centene (NYSE:CNC) had its target price increased by Deutsche Bank Aktiengesellschaft from $82.00 to $87.00 in a research note published on Friday morning, Benzinga reports. The firm currently has a hold rating on the stock.

A number of other equities analysts have also commented on the stock. Barclays lifted their price target on shares of Centene from $101.00 to $104.00 and gave the stock an overweight rating in a report on Thursday, May 2nd. TD Cowen raised their price objective on Centene from $80.00 to $89.00 and gave the stock a buy rating in a research report on Wednesday. Oppenheimer reduced their target price on Centene from $110.00 to $95.00 and set an outperform rating on the stock in a report on Monday, July 29th. StockNews.com upgraded shares of Centene from a buy rating to a strong-buy rating in a report on Monday, July 29th. Finally, Wells Fargo & Company reduced their price objective on shares of Centene from $93.00 to $81.00 and set an overweight rating on the stock in a research note on Monday, July 22nd. Nine equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $83.86.

Centene Price Performance

CNC traded up $0.18 during trading on Friday, hitting $78.09. 4,553,212 shares of the stock traded hands, compared to its average volume of 4,435,288. The business has a 50 day moving average price of $68.98 and a 200 day moving average price of $73.69. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.17 and a quick ratio of 1.17. Centene has a twelve month low of $60.83 and a twelve month high of $81.42. The company has a market cap of $41.08 billion, a price-to-earnings ratio of 15.51, a PEG ratio of 1.00 and a beta of 0.50.

Centene (NYSE:CNC) last posted its quarterly earnings results on Friday, July 26th. The company reported $2.42 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.02). The company had revenue of $39.84 billion during the quarter, compared to analyst estimates of $36.83 billion. Centene had a net margin of 1.79% and a return on equity of 14.45%. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.10 earnings per share. Equities research analysts forecast that Centene will post 6.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Christopher J. Coughlin sold 878 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $76.75, for a total value of $67,386.50. Following the transaction, the director now owns 25,504 shares in the company, valued at $1,957,432. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, President Kenneth J. Fasola sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $77.62, for a total value of $620,960.00. Following the sale, the president now owns 300,357 shares of the company’s stock, valued at $23,313,710.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Christopher J. Coughlin sold 878 shares of Centene stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $76.75, for a total transaction of $67,386.50. Following the completion of the transaction, the director now owns 25,504 shares of the company’s stock, valued at $1,957,432. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Centene

A number of large investors have recently modified their holdings of CNC. Rise Advisors LLC bought a new stake in Centene during the first quarter valued at approximately $25,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Centene during the 4th quarter worth $25,000. Riggs Asset Managment Co. Inc. purchased a new position in Centene in the fourth quarter worth $32,000. WR Wealth Planners LLC raised its position in Centene by 41.4% during the second quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock valued at $31,000 after purchasing an additional 137 shares in the last quarter. Finally, Riverview Trust Co lifted its stake in Centene by 154.6% during the second quarter. Riverview Trust Co now owns 527 shares of the company’s stock worth $35,000 after purchasing an additional 320 shares during the last quarter. 93.63% of the stock is currently owned by institutional investors.

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.