Wells Fargo has decided to maintain its Equal-Weight rating of Centene CNC and lower its price target from $79.00 to $71.00.
Shares of Centene are trading up 1.25% over the last 24 hours, at $64.95 per share.
A move to $71.00 would account for a 9.31% increase from the current share price.
Centene is a managed-care organization focused on government-sponsored healthcare plans, including Medicaid, Medicare, and the individual exchanges. Centene served 23 million medical members as of September 2022, mostly in Medicaid (70% of membership), the individual exchanges (9%), Medicare Advantage (7%), and the balance in Tricare (West region), correctional facility, and commercial plans. The company also serves 4 million users through the Medicare Part D pharmaceutical program.
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