Centene Corporation [CNC] Stock trading around $64.24 per share: What’s Next?

Centene Corporation [NYSE: CNC] surged by $1.66 during the normal trading session on Thursday and reaching a high of $64.47 during the day while it closed the day at $64.24. The company report on March 25, 2021 that Centene and YWCA USA Announce Innovative Program for Teen Girls.

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Centene Corporation (NYSE:CNC) announced that it has partnered with the YWCA USA to deploy Young Women Choosing Action, an innovative program designed to engage 13 to 19-year-old girls from low-income families, especially individuals of color, over the course of three years.

Funded by a grant from Centene, this program will help participants understand the impacts of trauma, develop healthy reactions and healthy relationship building skills, learn effective wellness practices, and grow their leadership and social justice skills. The program was piloted with participants in 24 cohorts over two years at four local YWCA affiliates, including YWCA Brooklyn (NY), YWCA Northwest Ohio, YWCA Northwest Louisiana, and YWCA Watsonville (CA).

Centene Corporation stock has also gained 4.39% of its value over the past 7 days. However, CNC stock has declined by -3.41% in the 3 months of the year. Over the past six months meanwhile, it has lost -1.73% and gained 7.01% year-on date.

The market cap for CNC stock reached $36.72 billion, with 580.13 million shares outstanding and 570.41 million shares in the current float. Compared to the average trading volume of 3.44M shares, CNC reached a trading volume of 3810507 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $79.69 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 2.00. 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.

Mizuho have made an estimate for Centene Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on March 10, 2021. While these analysts kept the previous recommendation, Goldman raised their target price to Neutral. The new note on the price target was released on January 21, 2021, representing the official price target for Centene Corporation stock. Previously, the target price had yet another drop from $75 to $72, while Jefferies kept a Hold rating on CNC stock.

The Average True Range (ATR) for Centene Corporation is set at 1.42, 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 1.45, with the Price to Cash per share for the same quarter was set at 21.66. Price to Free Cash Flow for CNC in the course of the last twelve months was 7.92 with Quick ratio for the last quarter at 1.10.

CNC stock trade performance evaluation

Centene Corporation [CNC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.39. With this latest performance, CNC shares gained by 2.02% in over the last four-week period, additionally sinking by -1.73% over the last 6 months – not to mention a drop of -6.93% 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 57.89, with the RSI for the last a single of trading hit 60.43, and the three-weeks RSI is set at 56.32 for Centene Corporation [CNC]. The present Moving Average for the last 50 days of trading for this stock 61.49, while it was recorded at 62.82 for the last single week of trading, and 62.55 for the last 200 days.

Centene Corporation [CNC]: An insightful look at the core 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 per share (EPS) analysis for Centene Corporation [CNC] stock

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%.

Centene Corporation [CNC]: Insider Ownership positions

There are presently around $33,623 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 $2.67 billion in CNC stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $2.56 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 April and at the time of the April reporting period, where 367 institutional holders increased their position in Centene Corporation [NYSE:CNC] by around 29,669,384 shares. Additionally, 361 investors decreased positions by around 33,692,686 shares, while 100 investors held positions by with 473,919,893 shares. The mentioned changes placed institutional holdings at 537,281,963 shares, according to the latest SEC report filing. CNC stock had 103 new institutional investments in for a total of 4,441,077 shares, while 79 institutional investors sold positions of 4,025,508 shares during the same period.

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