Barclays Boosts Centene (NYSE:CNC) Price Target to $75.00

Centene (NYSE:CNC) had its target price lifted by investment analysts at Barclays from $63.00 to $75.00 in a research report issued on Tuesday,MarketScreener reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective indicates a potential upside of 27.49% from the company’s previous close.

Several other equities research analysts also recently weighed in on the company. Oppenheimer reaffirmed an “outperform” rating and issued a $58.00 target price (up from $45.00) on shares of Centene in a research report on Wednesday, April 29th. TD Cowen restated a “hold” rating and set a $47.00 target price (up from $38.00) on shares of Centene in a research note on Monday, May 4th. JPMorgan Chase & Co. upped their target price on shares of Centene from $41.00 to $52.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 5th. Raymond James Financial set a $60.00 price target on shares of Centene in a research note on Wednesday, April 29th. Finally, Deutsche Bank Aktiengesellschaft raised Centene from a “hold” rating to a “buy” rating and increased their target price for the stock from $53.00 to $80.00 in a report on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Centene presently has a consensus rating of “Hold” and an average target price of $57.65.

Centene Price Performance

Shares of CNC opened at $58.83 on Tuesday. The firm has a market cap of $29.05 billion, a PE ratio of -4.48, a P/E/G ratio of 1.14 and a beta of 1.06. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.76. The firm has a fifty day simple moving average of $43.55 and a two-hundred day simple moving average of $41.85. Centene has a 1-year low of $25.08 and a 1-year high of $60.76.

Centene (NYSE:CNC) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $1.14. The company had revenue of $49.94 billion for the quarter, compared to analysts’ expectations of $47.53 billion. Centene had a positive return on equity of 5.57% and a negative net margin of 3.25%.Centene’s revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.90 EPS. On average, equities analysts anticipate that Centene will post 3.45 EPS for the current year.

Institutional Trading of Centene

Several hedge funds have recently modified their holdings of CNC. Addison Advisors LLC boosted its position in Centene by 455.6% during the third quarter. Addison Advisors LLC now owns 739 shares of the company’s stock worth $26,000 after purchasing an additional 606 shares in the last quarter. DV Equities LLC acquired a new stake in shares of Centene in the fourth quarter valued at $26,000. IFC & Insurance Marketing Inc. acquired a new position in shares of Centene in the 4th quarter valued at about $28,000. SBI Securities Co. Ltd. lifted its holdings in shares of Centene by 118.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 749 shares of the company’s stock valued at $31,000 after acquiring an additional 406 shares during the period. Finally, Bayban acquired a new position in Centene in the fourth quarter valued at about $33,000. 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.