Centene (NYSE:CNC) Downgraded to “Buy” Rating by StockNews.com

StockNews.com lowered shares of Centene (NYSE:CNC) from a strong-buy rating to a buy rating in a report issued on Monday morning.

Several other research analysts also recently issued reports on CNC. Robert W. Baird cut their price target on Centene from $83.00 to $66.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. TD Cowen upped their price target on shares of Centene from $80.00 to $89.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Oppenheimer dropped their price objective on shares of Centene from $110.00 to $95.00 and set an “outperform” rating for the company in a research note on Monday, July 29th. Wells Fargo & Company reduced their target price on Centene from $93.00 to $91.00 and set an “overweight” rating on the stock in a research note on Friday, September 13th. Finally, Stephens reissued an “equal weight” rating and set a $78.00 price target on shares of Centene in a research report 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.00.

Centene Stock Performance

Shares of CNC stock opened at $62.26 on Monday. The stock has a fifty day moving average price of $71.55 and a 200 day moving average price of $72.02. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.17 and a current ratio of 1.17. The stock has a market cap of $32.75 billion, a PE ratio of 10.81, a P/E/G ratio of 0.98 and a beta of 0.48. Centene has a 1 year low of $59.77 and a 1 year high of $81.42.

Hedge Funds Weigh In On Centene

Several institutional investors have recently added to or reduced their stakes in the business. Swedbank AB purchased a new position in Centene during the first quarter worth approximately $914,080,000. Boston Partners increased its holdings in shares of Centene by 0.4% during the 1st quarter. Boston Partners now owns 8,652,177 shares of the company’s stock worth $678,033,000 after buying an additional 32,427 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Centene by 0.5% in the second 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 last quarter. Capital International Investors grew its position in Centene by 60.2% during the first 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 stake in Centene by 14.2% during the second quarter. Legal & General Group Plc now owns 5,113,759 shares of the company’s stock worth $339,042,000 after acquiring an additional 636,683 shares during the last quarter. 93.63% of the stock is currently owned by institutional investors and hedge funds.

About Centene

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.