Centene Corporation [CNC] is -6.00% lower this YTD. Is it still time to buy?

Centene Corporation [NYSE: CNC] traded at a high on 10/30/20, posting a 1.32 gain after which it closed the day’ session at $59.10. The company report on October 21, 2020 that Health Net Federal Services, LLC, Earns URAC Health Network Accreditation.

The designation demonstrates the highest level of commitment to quality health care.

Health Net Federal Services, LLC, a wholly owned subsidiary of Centene Corporation (NYSE: CNC), announced today it has earned URAC Health Network Accreditation. URAC is the independent leader in promoting health care quality through leadership, accreditation, measurement and innovation. By achieving this status, Health Net Federal Services has demonstrated a comprehensive commitment to quality care, improved processes and better patient outcomes.

The results of the trading session contributed to over 4343560 shares changing hands. Over the past one week, the price volatility of Centene Corporation stands at 3.90% while the volatility over the past one month is 3.11%.

The market cap for CNC stock reached $33.82 billion, with 579.51 million shares outstanding and 569.10 million shares in the current float. Compared to the average trading volume of 3.14M shares, CNC reached a trading volume of 4343560 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Centene Corporation [CNC]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CNC shares is $81.82 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CNC stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Stephens have made an estimate for Centene Corporation shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on September 22, 2020. While these analysts kept the previous recommendation, SVB Leerink raised their target price to Outperform. The new note on the price target was released on July 01, 2020, representing the official price target for Centene Corporation stock. Previously, the target price had yet another raise to $88, while JP Morgan analysts kept a Overweight rating on CNC stock.

The Average True Range (ATR) for Centene Corporation is set at 2.10, with the Price to Sales ratio for CNC stock in the period of the last 12 months amounting to 0.33. The Price to Book ratio for the last quarter was 1.33, with the Price to Cash per share for the same quarter was set at 23.93. Price to Free Cash Flow for CNC in the course of the last twelve months was 33.55 with Quick ratio for the last quarter at 1.30.

How has CNC stock performed recently?

Centene Corporation [CNC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -12.34. With this latest performance, CNC shares gained by 0.48% in over the last four-week period, additionally sinking by -10.26% over the last 6 months – not to mention a rise of 11.34% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CNC stock in for the last two-week period is set at 36.99, with the RSI for the last a single of trading hit 30.15, and the three-weeks RSI is set at 41.97 for Centene Corporation [CNC]. The present Moving Average for the last 50 days of trading for this stock 60.89, while it was recorded at 61.82 for the last single week of trading, and 62.73 for the last 200 days.

Centene Corporation [CNC]: Deeper insight into the fundamentals

Centene Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 1.30.

Earnings analysis for Centene Corporation [CNC]

With the latest financial reports released by the company, Centene Corporation posted 0.73/share EPS, while the average EPS was predicted by analysts to be reported at 0.73/share. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CNC. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Centene Corporation go to 13.04%.

Insider trade positions for Centene Corporation [CNC]

There are presently around $31,977 million, or 97.10% of CNC stock, in the hands of institutional investors. The top three institutional holders of CNC stocks are: VANGUARD GROUP INC with ownership of 63,994,823, which is approximately -2.711% of the company’s market cap and around 0.60% of the total institutional ownership; PRICE T ROWE ASSOCIATES INC /MD/, holding 47,736,109 shares of the stock with an approximate value of $2.82 billion in CNC stocks shares; and BLACKROCK INC., currently with $2.39 billion in CNC stock with ownership of nearly -8.693% of the company’s market capitalization.

347 institutional holders increased their position in Centene Corporation [NYSE:CNC] by around 47,612,320 shares. Additionally, 404 investors decreased positions by around 58,629,813 shares, while 100 investors held positions by with 434,827,554 shares. The mentioned changes placed institutional holdings at 541,069,687 shares, according to the latest SEC report filing. CNC stock had 111 new institutional investments in for a total of 10,292,978 shares, while 96 institutional investors sold positions of 17,812,914 shares during the same period.

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