Centene Corporation (NYSE:CNC) Given Average Recommendation of “Hold” by Analysts

Shares of Centene Corporation (NYSE:CNC) have earned a consensus recommendation of “Hold” from the twenty analysts that are covering the company, MarketBeat reports. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have issued a buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $42.4375.

Several equities research analysts recently commented on the stock. Truist Financial boosted their price target on shares of Centene from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Wall Street Zen cut shares of Centene from a “buy” rating to a “hold” rating in a research note on Sunday, February 15th. Wells Fargo & Company set a $44.00 price target on shares of Centene and gave the stock an “equal weight” rating in a research report on Wednesday, February 18th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $59.00 price target on shares of Centene in a research note on Tuesday, January 6th. Finally, Morgan Stanley boosted their price objective on Centene from $38.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 4th.

Centene Stock Performance

NYSE CNC opened at $43.70 on Monday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.87. Centene has a twelve month low of $25.08 and a twelve month high of $66.03. The stock has a 50-day moving average of $43.25 and a 200 day moving average of $38.18. The stock has a market capitalization of $21.49 billion, a price-to-earnings ratio of -3.21, a PEG ratio of 0.97 and a beta of 0.48.

Centene (NYSE:CNC) last posted its quarterly earnings data on Friday, February 6th. The company reported ($1.19) EPS for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.03. Centene had a positive return on equity of 4.25% and a negative net margin of 3.43%.The business had revenue of $49.73 billion during the quarter, compared to analysts’ expectations of $48.41 billion. During the same period in the previous year, the business earned $0.80 earnings per share. The business’s revenue was up 21.9% compared to the same quarter last year. Centene has set its FY 2026 guidance at 3.000-3.000 EPS. Sell-side analysts anticipate that Centene will post 6.86 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Baird Financial Group Inc. purchased a new stake in shares of Centene during the first quarter worth $236,000. Sivia Capital Partners LLC boosted its position in shares of Centene by 80.0% during the 2nd 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. Assetmark Inc. grew its holdings in shares of Centene by 248.2% in the second quarter. Assetmark Inc. now owns 1,156 shares of the company’s stock valued at $63,000 after purchasing an additional 824 shares during the period. Atlantic Union Bankshares Corp purchased a new position in Centene during the second quarter worth about $76,000. Finally, Resona Asset Management Co. Ltd. boosted its holdings in Centene by 20.3% in the 2nd quarter. Resona Asset Management Co. Ltd. now owns 187,433 shares of the company’s stock valued at $10,166,000 after purchasing an additional 31,688 shares during the last quarter. 93.63% of the stock is owned by institutional investors and hedge funds.

About Centene

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.