why Centene Corporation [CNC] is a Good Choice for Investors After New Price Target of $80.56

Centene Corporation [NYSE: CNC] jumped around 1.23 points on Friday, while shares priced at $60.52 at the close of the session, up 2.07%. The company report on March 1, 2021 that Centene and its Health Plans Raise Awareness of Childhood Social Isolation Through No One Eats Alone Day.

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February marked the celebration of No One Eats Alone Day, a nationwide initiative created by Beyond DifferencesTM, to promote inclusion among children and address social isolation. This year, amid the ongoing COVID-19 pandemic, Centene’s state-based health plans helped promote awareness and impact change locally by hosting online events to celebrate the occasion at schools and community organizations across the country.

Community representatives from Centene’s health plans partnered with schools across the country to organize virtual No One Eats Alone Day assemblies, reaching more than 23,500 children in 47 schools. The virtual assemblies taught children about social isolation and the negative impact it can have on a student’s health and academic performance. The children were given several ice-breaker topics to discuss with each other and encouraged to create new friendships with each other online.

Centene Corporation stock is now 0.82% up from its year-to-date (YTD) trading value. CNC Stock saw the intraday high of $60.675 and lowest of $58.85 per share. The company’s 52-week high price is 74.70, which means current price is +5.88% above from all time high which was touched on 01/08/21.

Compared to the average trading volume of 3.89M shares, CNC reached a trading volume of 5345527 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 $80.56 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 1.90. 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.

Goldman have made an estimate for Centene Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on January 21, 2021. While these analysts kept the previous recommendation, Jefferies dropped their target price from $75 to $72. The new note on the price target was released on January 15, 2021, representing the official price target for Centene Corporation stock.

The Average True Range (ATR) for Centene Corporation is set at 1.57, with the Price to Sales ratio for CNC stock in the period of the last 12 months amounting to 0.31. The Price to Book ratio for the last quarter was 1.36, with the Price to Cash per share for the same quarter was set at 21.73. Price to Free Cash Flow for CNC in the course of the last twelve months was 7.44 with Quick ratio for the last quarter at 1.10.

How has CNC stock performed recently?

Centene Corporation [CNC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.38. With this latest performance, CNC shares gained by 0.07% in over the last four-week period, additionally sinking by -2.36% over the last 6 months – not to mention a rise of 1.34% 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 54.07, with the RSI for the last a single of trading hit 60.80, and the three-weeks RSI is set at 51.04 for Centene Corporation [CNC]. The present Moving Average for the last 50 days of trading for this stock 60.91, while it was recorded at 59.43 for the last single week of trading, and 62.68 for the last 200 days.

Centene Corporation [CNC]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Centene Corporation [CNC] shares currently have an operating margin of +3.36. Centene Corporation’s Net Margin is presently recorded at +1.63.

Return on Total Capital for CNC is now 10.45, given the latest momentum, and Return on Invested Capital for the company is 5.12. Return on Equity for this stock inclined to 9.44, with Return on Assets sitting at 3.26. When it comes to the capital structure of this company, Centene Corporation [CNC] has a Total Debt to Total Equity ratio set at 71.07. Additionally, CNC Total Debt to Total Capital is recorded at 41.54, with Total Debt to Total Assets ending up at 26.23. Long-Term Debt to Equity for the company is recorded at 69.90, with the Long-Term Debt to Total Capital now at 40.86.

Reflecting on the efficiency of the workforce at the company, Centene Corporation [CNC] managed to generate an average of $25,358 per employee.Centene Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.10.

Earnings analysis for Centene Corporation [CNC]

With the latest financial reports released by the company, Centene Corporation posted 0.86/share EPS, while the average EPS was predicted by analysts to be reported at 0.99/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -13.10%. 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 10.53%.

Insider trade positions for Centene Corporation [CNC]

There are presently around $32,507 million, or 94.20% of CNC stock, in the hands of institutional investors. The top three institutional holders of CNC stocks are: VANGUARD GROUP INC with ownership of 61,577,247, which is approximately -1.572% of the company’s market cap and around 2.00% of the total institutional ownership; BLACKROCK INC., holding 41,635,227 shares of the stock with an approximate value of $2.52 billion in CNC stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $2.42 billion in CNC stock with ownership of nearly -0.841% of the company’s market capitalization.

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Positions in Centene Corporation stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 368 institutional holders increased their position in Centene Corporation [NYSE:CNC] by around 30,191,822 shares. Additionally, 367 investors decreased positions by around 33,825,400 shares, while 101 investors held positions by with 473,104,635 shares. The mentioned changes placed institutional holdings at 537,121,857 shares, according to the latest SEC report filing. CNC stock had 101 new institutional investments in for a total of 4,398,057 shares, while 84 institutional investors sold positions of 4,116,651 shares during the same period.

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