Centene (NYSE:CNC) Given “Hold” Rating at TD Cowen

TD Cowen reaffirmed their hold rating on shares of Centene (NYSE:CNC) in a report released on Monday, Marketbeat reports. They currently have a $33.00 price objective on the stock, down from their previous price objective of $73.00.

Other equities analysts have also recently issued reports about the company. Oppenheimer dropped their price objective on Centene from $85.00 to $51.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 15th. Guggenheim restated a “neutral” rating on shares of Centene in a research note on Tuesday, April 29th. Wall Street Zen cut shares of Centene from a “buy” rating to a “hold” rating in a research note on Saturday, July 12th. Jefferies Financial Group decreased their price objective on shares of Centene from $64.00 to $61.00 and set a “hold” rating on the stock in a research report on Tuesday, April 29th. Finally, Mizuho cut their price objective on shares of Centene from $71.00 to $40.00 and set a “neutral” rating for the company in a research report on Friday, July 11th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Centene currently has a consensus rating of “Hold” and a consensus target price of $55.13.

Centene Stock Down 2.0%

CNC stock opened at $27.40 on Monday. The company has a market cap of $13.63 billion, a price-to-earnings ratio of 4.08, a PEG ratio of 0.46 and a beta of 0.44. Centene has a 12 month low of $27.34 and a 12 month high of $80.59. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.65. The firm has a 50-day moving average of $50.03 and a two-hundred day moving average of $56.98.

Centene (NYSE:CNC) last announced its earnings results on Friday, April 25th. The company reported $2.90 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.38. Centene had a return on equity of 14.56% and a net margin of 2.04%. The business had revenue of $46.62 billion during the quarter, compared to the consensus estimate of $43.16 billion. During the same period in the prior year, the company posted $2.26 EPS. The business’s quarterly revenue was up 15.4% on a year-over-year basis. As a group, analysts forecast that Centene will post 6.86 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Ameriflex Group Inc. acquired a new position in shares of Centene in the 4th quarter valued at $26,000. Pinney & Scofield Inc. bought a new stake in shares of Centene in the fourth quarter valued at approximately $25,000. Hurley Capital LLC bought a new position in shares of Centene in the 4th quarter worth about $26,000. Quarry LP purchased a new stake in Centene during the first quarter valued at $26,000. Finally, Studio Investment Management LLC acquired a new stake in Centene in the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 93.63% of the company’s stock.

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.