Wells Fargo & Company Has Lowered Expectations for Centene (NYSE:CNC) Stock Price

Centene (NYSE:CNC) had its price objective decreased by equities researchers at Wells Fargo & Company from $91.00 to $90.00 in a report released on Monday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 39.00% from the company’s current price.

Several other equities research analysts have also weighed in on CNC. TD Cowen lifted their price target on Centene from $80.00 to $89.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Robert W. Baird reduced their target price on shares of Centene from $83.00 to $66.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. StockNews.com cut shares of Centene from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 28th. JPMorgan Chase & Co. cut their price objective on shares of Centene from $85.00 to $80.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Finally, Oppenheimer dropped their price target on Centene from $110.00 to $95.00 and set an “outperform” rating on the stock in a research report on Monday, July 29th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $83.92.

Centene Price Performance

CNC stock opened at $64.75 on Monday. The firm has a 50-day moving average of $71.25 and a 200 day moving average of $71.96. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.10 and a quick ratio of 1.17. The company has a market cap of $32.69 billion, a P/E ratio of 11.08, a PEG ratio of 0.85 and a beta of 0.49. Centene has a 1 year low of $59.77 and a 1 year high of $81.42.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. EP Wealth Advisors LLC increased its holdings in Centene by 1.0% in the 1st quarter. EP Wealth Advisors LLC now owns 13,604 shares of the company’s stock worth $1,068,000 after buying an additional 133 shares in the last quarter. WR Wealth Planners LLC boosted its holdings in shares of Centene by 41.4% during the 2nd quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock valued at $31,000 after acquiring an additional 137 shares during the last quarter. Whittier Trust Co. grew its stake in shares of Centene by 10.0% in the second quarter. Whittier Trust Co. now owns 1,562 shares of the company’s stock worth $104,000 after acquiring an additional 142 shares during the period. Mount Yale Investment Advisors LLC lifted its position in Centene by 2.1% during the third quarter. Mount Yale Investment Advisors LLC now owns 8,082 shares of the company’s stock valued at $608,000 after purchasing an additional 167 shares during the period. Finally, Bleakley Financial Group LLC boosted its holdings in Centene by 2.4% in the first quarter. Bleakley Financial Group LLC now owns 7,287 shares of the company’s stock worth $572,000 after purchasing an additional 173 shares during the last quarter. Hedge funds and other institutional investors own 93.63% of the company’s stock.

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.