In a report released today, Ryan Langston from TD Cowen maintained a Buy rating on Centene (CNC – Research Report), with a price target of $80.00.
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Ryan Langston has given his Buy rating due to a combination of factors surrounding Centene’s recent financial performance and future outlook. The company exceeded expectations with an adjusted EPS of $0.80, surpassing the consensus of $0.49. This performance was bolstered by specific settlements and reductions, indicating efficient cost management. Despite not increasing EPS guidance for 2025, Centene raised its revenue forecast by $4 billion, suggesting potential for growth in various sectors such as PDP and Medicaid.
Langston also considers Centene’s strong membership numbers across different lines of business, including Medicaid and Medicare, where results were better than anticipated. With stable membership and a forecasted return to rate equilibrium, Centene appears poised for steady growth. The analyst maintains a price target of $80, reflecting confidence in Centene’s ability to achieve a 10% growth in EPS by 2026, further substantiating the Buy recommendation.
Based on the recent corporate insider activity of 74 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CNC in relation to earlier this year.