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

Centene (NYSE:CNC) had its price target decreased by Wells Fargo & Company from $91.00 to $90.00 in a research note published on Monday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

CNC has been the subject of several other research reports. Barclays reduced their price target on shares of Centene from $97.00 to $91.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. Jefferies Financial Group downgraded Centene from a “buy” rating to a “hold” rating and reduced their price objective for the company from $83.00 to $69.00 in a research note on Wednesday, July 24th. Truist Financial lowered their target price on Centene from $92.00 to $89.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $90.00 price target on shares of Centene in a report on Tuesday, October 1st. Finally, Stephens reissued an “equal weight” rating and issued a $78.00 price objective on shares of Centene in a research note on Monday, August 5th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $83.92.

Centene Trading Up 0.5 %

NYSE: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. Centene has a 52-week low of $59.77 and a 52-week high of $81.42. The stock’s 50 day moving average price is $70.97 and its 200 day moving average price is $71.89. The company has a market capitalization of $32.22 billion, a PE ratio of 11.08, a P/E/G ratio of 0.87 and a beta of 0.49.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Centene by 18.7% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 624,944 shares of the company’s stock valued at $49,046,000 after purchasing an additional 98,298 shares during the last quarter. GSA Capital Partners LLP boosted its position in shares of Centene by 435.0% in the first quarter. GSA Capital Partners LLP now owns 20,052 shares of the company’s stock worth $1,574,000 after acquiring an additional 16,304 shares during the last quarter. Diversified Trust Co grew its holdings in Centene by 35.8% in the second quarter. Diversified Trust Co now owns 28,009 shares of the company’s stock valued at $1,857,000 after purchasing an additional 7,385 shares during the period. Bessemer Group Inc. raised its stake in Centene by 189.6% during the first quarter. Bessemer Group Inc. now owns 24,162 shares of the company’s stock worth $1,895,000 after purchasing an additional 15,819 shares during the period. Finally, Comerica Bank boosted its holdings in shares of Centene by 7.3% in the 1st quarter. Comerica Bank now owns 118,597 shares of the company’s stock valued at $9,307,000 after purchasing an additional 8,103 shares during the last quarter. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Centene Company Profile

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.