Wells Fargo & Company Lowers Centene (NYSE:CNC) Price Target to $90.00

Centene (NYSE:CNC) had its price objective cut by Wells Fargo & Company from $91.00 to $90.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have an overweight rating on the stock.

CNC has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft boosted their price objective on Centene from $82.00 to $87.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Robert W. Baird decreased their price target on Centene from $83.00 to $66.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Sanford C. Bernstein reduced their target price on shares of Centene from $96.00 to $88.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Truist Financial lowered their price target on shares of Centene from $92.00 to $89.00 and set a “buy” rating for the company in a report on Monday, July 15th. Finally, Stephens reissued an “equal weight” rating and issued a $78.00 price objective on shares of Centene in a research report on Monday, August 5th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $83.92.

Centene Price Performance

CNC opened at $63.82 on Monday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.64. The company has a market cap of $32.22 billion, a P/E ratio of 11.08, a P/E/G ratio of 0.87 and a beta of 0.49. The company has a 50 day moving average of $70.97 and a two-hundred day moving average of $71.89. Centene has a 52-week low of $59.77 and a 52-week high of $81.42.

Institutional Investors Weigh In On Centene

A number of institutional investors have recently made changes to their positions in CNC. First Trust Direct Indexing L.P. raised its holdings in shares of Centene by 15.3% during the first quarter. First Trust Direct Indexing L.P. now owns 5,046 shares of the company’s stock worth $396,000 after purchasing an additional 671 shares during the period. Norden Group LLC lifted its holdings in Centene by 79.4% in the first quarter. Norden Group LLC now owns 5,878 shares of the company’s stock worth $461,000 after acquiring an additional 2,601 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in Centene by 5.9% in the first quarter. Janney Montgomery Scott LLC now owns 31,309 shares of the company’s stock valued at $2,457,000 after acquiring an additional 1,738 shares during the period. Mutual of America Capital Management LLC raised its position in shares of Centene by 0.4% during the 1st quarter. Mutual of America Capital Management LLC now owns 99,575 shares of the company’s stock worth $7,815,000 after purchasing an additional 445 shares during the period. Finally, Central Pacific Bank Trust Division bought a new stake in shares of Centene in the 1st quarter worth approximately $93,000. 93.63% of the stock is currently owned by institutional investors.

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.