Sanford C. Bernstein Cuts Centene (NYSE:CNC) Price Target to $88.00

Centene (NYSE:CNC) had its price objective lowered by Sanford C. Bernstein from $96.00 to $88.00 in a research report released on Wednesday morning, Benzinga reports. Sanford C. Bernstein currently has an outperform rating on the stock.

Other equities analysts have also issued reports about the company. TD Cowen increased their price objective on Centene from $80.00 to $89.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Barclays lowered their price target on Centene from $97.00 to $91.00 and set an “overweight” rating on the stock in a report on Tuesday. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Centene from $82.00 to $87.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Stephens reissued an “equal weight” rating and set a $78.00 target price on shares of Centene in a research note on Monday, August 5th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $90.00 price target on shares of Centene in a research note on Tuesday, October 1st. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Centene currently has a consensus rating of “Moderate Buy” and an average price target of $84.00.

Centene Trading Up 2.0 %

Centene stock opened at $63.52 on Wednesday. The firm has a 50-day moving average price of $71.25 and a two-hundred day moving average price of $71.96. Centene has a 52-week low of $59.77 and a 52-week high of $81.42. The firm has a market capitalization of $33.41 billion, a price-to-earnings ratio of 11.03, a PEG ratio of 0.85 and a beta of 0.48. The company has a quick ratio of 1.17, a current ratio of 1.10 and a debt-to-equity ratio of 0.64.

Institutional Trading of Centene

Large investors have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC lifted its position in shares of Centene by 11.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 38,582 shares of the company’s stock valued at $3,028,000 after acquiring an additional 3,963 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Centene by 92.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 449,025 shares of the company’s stock valued at $35,239,000 after purchasing an additional 215,432 shares during the period. State of Alaska Department of Revenue increased its stake in Centene by 0.5% in the 1st quarter. State of Alaska Department of Revenue now owns 68,474 shares of the company’s stock worth $5,373,000 after purchasing an additional 310 shares in the last quarter. Norden Group LLC raised its holdings in Centene by 2,590.6% during the 1st quarter. Norden Group LLC now owns 88,170 shares of the company’s stock worth $6,920,000 after buying an additional 84,893 shares during the period. Finally, First Trust Direct Indexing L.P. lifted its stake in Centene by 15.3% during the first quarter. First Trust Direct Indexing L.P. now owns 5,046 shares of the company’s stock valued at $396,000 after buying an additional 671 shares in the last quarter. 93.63% of the stock is currently owned by institutional investors.

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.