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

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

Several other analysts have also commented on the company. Jefferies Financial Group lowered Centene from a “buy” rating to a “hold” rating and decreased their price target for the company from $83.00 to $69.00 in a research note on Wednesday, July 24th. JPMorgan Chase & Co. dropped their target price on shares of Centene from $85.00 to $80.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Robert W. Baird reduced their price target 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. 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 report on Monday, July 29th. Finally, Barclays reduced their target price on Centene from $97.00 to $91.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $83.92.

Centene Stock Performance

NYSE:CNC opened at $62.52 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. The firm has a 50-day moving average price of $70.40 and a 200 day moving average price of $71.75. The firm has a market capitalization of $31.56 billion, a PE ratio of 10.85, a price-to-earnings-growth ratio of 0.88 and a beta of 0.49. Centene has a 12-month low of $59.77 and a 12-month high of $81.42.

Institutional Trading of Centene

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. boosted its stake in shares of Centene by 10.2% in the 3rd quarter. Meeder Asset Management Inc. now owns 74,945 shares of the company’s stock valued at $5,642,000 after purchasing an additional 6,937 shares during the last quarter. Caprock Group LLC grew its holdings in Centene by 5.7% during the 3rd quarter. Caprock Group LLC now owns 11,959 shares of the company’s stock worth $900,000 after acquiring an additional 641 shares during the period. Thrivent Financial for Lutherans raised its position in shares of Centene by 9.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 74,998 shares of the company’s stock valued at $5,645,000 after acquiring an additional 6,337 shares during the last quarter. Claro Advisors LLC acquired a new position in shares of Centene in the 3rd quarter valued at $332,000. Finally, Mutual of America Capital Management LLC grew its stake in shares of Centene by 1.5% during the third quarter. Mutual of America Capital Management LLC now owns 98,022 shares of the company’s stock worth $7,379,000 after purchasing an additional 1,445 shares during the period. 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.