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

Centene (NYSE:CNC) had its price objective lowered by equities research analysts at Wells Fargo & Company from $91.00 to $90.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 38.87% from the company’s current price.

Several other equities research analysts have also issued reports on CNC. JPMorgan Chase & Co. lowered their price objective on Centene from $85.00 to $80.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. TD Cowen increased their price target on Centene from $80.00 to $89.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Robert W. Baird reduced their price target on Centene from $83.00 to $66.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Oppenheimer reduced their price target on Centene from $110.00 to $95.00 and set an “outperform” rating on the stock in a report on Monday, July 29th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $90.00 price target on shares of Centene in a report on Tuesday, October 1st. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Centene has an average rating of “Moderate Buy” and an average price target of $83.92.

Centene Price Performance

NYSE:CNC opened at $64.81 on Monday. The firm has a market capitalization of $32.72 billion, a price-to-earnings ratio of 11.25, a PEG ratio of 0.87 and a beta of 0.49. Centene has a 1 year low of $59.77 and a 1 year high of $81.42. The business has a 50 day simple moving average of $70.71 and a 200-day simple moving average of $71.82. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.10 and a quick ratio of 1.10.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Swedbank AB purchased a new position in shares of Centene in the 1st quarter valued at $914,080,000. Boston Partners increased its holdings in shares of Centene by 0.4% in the 1st quarter. Boston Partners now owns 8,652,177 shares of the company’s stock valued at $678,033,000 after acquiring an additional 32,427 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Centene by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,491,968 shares of the company’s stock valued at $364,117,000 after acquiring an additional 25,595 shares during the period. Capital International Investors increased its holdings in shares of Centene by 60.2% in the 1st quarter. Capital International Investors now owns 5,216,486 shares of the company’s stock valued at $409,390,000 after acquiring an additional 1,959,460 shares during the period. Finally, Legal & General Group Plc increased its holdings in shares of Centene by 14.2% in the 2nd quarter. Legal & General Group Plc now owns 5,113,759 shares of the company’s stock valued at $339,042,000 after acquiring an additional 636,683 shares during the period. 93.63% of the stock is currently owned by hedge funds and other institutional investors.

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.