Fintel reports that on January 2, 2024, Wells Fargo upgraded their outlook for Centene (NYSE:CNC) from Equal-Weight to Overweight .
Analyst Price Forecast Suggests 17.66% Upside
As of December 16, 2023, the average one-year price target for Centene is 87.31. The forecasts range from a low of 72.72 to a high of $115.50. The average price target represents an increase of 17.66% from its latest reported closing price of 74.21.
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The projected annual revenue for Centene is 145,909MM, an increase of 4.70%. The projected annual non-GAAP EPS is 6.41.
What is the Fund Sentiment?
There are 1773 funds or institutions reporting positions in Centene. This is an increase of 26 owner(s) or 1.49% in the last quarter. Average portfolio weight of all funds dedicated to CNC is 0.39%, an increase of 5.49%. Total shares owned by institutions decreased in the last three months by 2.09% to 549,666K shares. 
The put/call ratio of CNC is 1.00, indicating a bearish outlook.
What are Other Shareholders Doing?
Capital World Investors holds 35,277K shares representing 6.60% ownership of the company. In it's prior filing, the firm reported owning 47,940K shares, representing a decrease of 35.90%. The firm decreased its portfolio allocation in CNC by 22.61% over the last quarter.
Wellington Management Group Llp holds 20,211K shares representing 3.78% ownership of the company. In it's prior filing, the firm reported owning 20,629K shares, representing a decrease of 2.07%. The firm increased its portfolio allocation in CNC by 5.84% over the last quarter.
ANCFX - AMERICAN FUNDS FUNDAMENTAL INVESTORS holds 18,354K shares representing 3.44% ownership of the company. In it's prior filing, the firm reported owning 23,206K shares, representing a decrease of 26.44%. The firm decreased its portfolio allocation in CNC by 15.89% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 16,867K shares representing 3.16% ownership of the company. In it's prior filing, the firm reported owning 17,122K shares, representing a decrease of 1.51%. The firm increased its portfolio allocation in CNC by 4.42% over the last quarter.
Jpmorgan Chase holds 13,468K shares representing 2.52% ownership of the company. In it's prior filing, the firm reported owning 13,525K shares, representing a decrease of 0.43%. The firm decreased its portfolio allocation in CNC by 86.76% 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.
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