JPMorgan Chase & Co. Issues Positive Forecast for Centene (NYSE:CNC) Stock Price

Centene (NYSE:CNC) had its price objective lifted by JPMorgan Chase & Co. from $38.00 to $45.00 in a report published on Thursday,MarketScreener reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other analysts have also commented on the stock. Jefferies Financial Group boosted their price objective on shares of Centene from $25.00 to $32.00 in a research report on Monday, November 3rd. Zacks Research raised shares of Centene from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 29th. Weiss Ratings restated a “sell (d)” rating on shares of Centene in a report on Wednesday, October 8th. Truist Financial upped their target price on Centene from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Monday, January 5th. Finally, Mizuho set a $47.00 price target on Centene in a research note on Friday, January 9th. Three research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $40.81.

Centene Price Performance

Shares of CNC stock opened at $45.33 on Thursday. The firm has a market capitalization of $22.28 billion, a price-to-earnings ratio of -4.19, a price-to-earnings-growth ratio of 1.03 and a beta of 0.48. Centene has a 12-month low of $25.08 and a 12-month high of $66.81. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.83. The firm has a fifty day moving average of $40.96 and a 200-day moving average of $34.99.

Centene (NYSE:CNC) last posted its earnings results on Wednesday, October 29th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.71. Centene had a positive return on equity of 7.82% and a negative net margin of 2.85%.The business had revenue of $49.69 billion during the quarter, compared to analysts’ expectations of $47.50 billion. During the same period in the prior year, the business earned $1.62 EPS. Centene’s revenue for the quarter was up 18.2% compared to the same quarter last year. On average, equities research analysts forecast that Centene will post 6.86 earnings per share for the current year.

Hedge Funds Weigh In On Centene

Several institutional investors and hedge funds have recently modified their holdings of the business. Baird Financial Group Inc. bought a new position in Centene in the 1st quarter valued at about $236,000. Sivia Capital Partners LLC increased its stake in Centene by 80.0% in the second quarter. Sivia Capital Partners LLC now owns 9,710 shares of the company’s stock valued at $527,000 after acquiring an additional 4,315 shares during the last quarter. Farther Finance Advisors LLC raised its position in Centene by 5.1% during the second quarter. Farther Finance Advisors LLC now owns 6,658 shares of the company’s stock valued at $361,000 after purchasing an additional 325 shares in the last quarter. Fifth Third Bancorp lifted its stake in Centene by 4.6% during the second quarter. Fifth Third Bancorp now owns 60,307 shares of the company’s stock worth $3,273,000 after purchasing an additional 2,625 shares during the last quarter. Finally, Signaturefd LLC boosted its holdings in shares of Centene by 82.3% in the 2nd quarter. Signaturefd LLC now owns 12,427 shares of the company’s stock valued at $675,000 after purchasing an additional 5,611 shares in the last quarter. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Centene Company Profile

Centene Corporation (NYSE: CNC) is a diversified, multi-national healthcare enterprise that specializes in providing services to government-sponsored and national health programs. The company primarily acts as a managed care organization, delivering healthcare coverage and administering benefits for Medicaid, the Children’s Health Insurance Program (CHIP), Medicare Advantage, and individual marketplace plans. Centene also contracts with federal and state agencies to manage specialty care programs and community-based services for vulnerable populations.

Centene’s offerings extend beyond traditional insurance to include a range of specialty and support services.