Fintel reports that on September 5, 2023, B of A Securities upgraded their outlook for Centene (NYSE:CNC) from Underperform to Neutral.
Analyst Price Forecast Suggests 36.59% Upside
As of August 31, 2023, the average one-year price target for Centene is 83.69. The forecasts range from a low of 71.71 to a high of $115.50. The average price target represents an increase of 36.59% from its latest reported closing price of 61.27.
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The projected annual revenue for Centene is 145,909MM, an increase of 5.52%. The projected annual non-GAAP EPS is 6.41.
What is the Fund Sentiment?
There are 1743 funds or institutions reporting positions in Centene. This is a decrease of 85 owner(s) or 4.65% in the last quarter. Average portfolio weight of all funds dedicated to CNC is 0.37%, a decrease of 1.77%. Total shares owned by institutions decreased in the last three months by 0.97% to 561,697K shares. The put/call ratio of CNC is 1.53, indicating a bearish outlook.
What are Other Shareholders Doing?
Capital World Investors holds 47,940K shares representing 8.85% ownership of the company. In it’s prior filing, the firm reported owning 53,067K shares, representing a decrease of 10.69%. The firm decreased its portfolio allocation in CNC by 10.30% over the last quarter.
ANCFX – AMERICAN FUNDS FUNDAMENTAL INVESTORS holds 23,206K shares representing 4.29% ownership of the company. In it’s prior filing, the firm reported owning 23,476K shares, representing a decrease of 1.17%. The firm decreased its portfolio allocation in CNC by 0.62% over the last quarter.
Wellington Management Group Llp holds 20,629K shares representing 3.81% ownership of the company. In it’s prior filing, the firm reported owning 20,842K shares, representing a decrease of 1.03%. The firm increased its portfolio allocation in CNC by 0.79% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 17,122K shares representing 3.16% ownership of the company. In it’s prior filing, the firm reported owning 17,026K shares, representing an increase of 0.56%. The firm decreased its portfolio allocation in CNC by 1.00% over the last quarter.
Jpmorgan Chase holds 13,525K shares representing 2.50% ownership of the company. In it’s prior filing, the firm reported owning 11,888K shares, representing an increase of 12.11%. The firm increased its portfolio allocation in CNC by 762.45% over the last quarter.
Centene Background Information
(This description is provided by the company.)
Centene Corporation, a Fortune 50 company, is a leading multi-national healthcare enterprise that is committed to helping people live healthier lives. The Company takes a local approach – with local brands and local teams – to provide fully integrated, high-quality, and cost-effective services to government-sponsored and commercial healthcare programs, focusing on under-insured and uninsured individuals. Centene offers affordable and high-quality products to nearly 1 in 15 individuals across the nation, including Medicaid and Medicare members (including Medicare Prescription Drug Plans) as well as individuals and families served by the Health Insurance Marketplace, the TRICARE program, and individuals in correctional facilities. The Company also serves several international markets, and contracts with other healthcare and commercial organizations to provide a variety of specialty services focused on treating the whole person. Centene focuses on long-term growth and the development of its people, systems and capabilities so that it can better serve its members, providers, local communities, and government partners.
This article originally appeared on Fintel
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