Centene Corporation [CNC] Stock trading around $73.73 per share: What’s Next?

Centene Corporation [NYSE: CNC] price surged by 2.69 percent to reach at $1.93. The company report on May 18, 2021 that Centene Addresses Behavioral Health Challenges Amid National Mental Health Month.

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Health payers play critical role in care coordination to address physical and mental health needs.

Centene Corporation (NYSE: CNC) announced its support for National Mental Health Month through a number of initiatives that empower providers and individuals to address behavioral health challenges, including substance use disorder (SUD). This year, the observance carries added significance as communities attempt to recover from the COVID-19 pandemic and the additional stressors that impacted overall health, including fear, isolation, and economic anxiety.

A sum of 7244816 shares traded at recent session while its average daily volume was at 3.96M shares. Centene Corporation shares reached a high of $73.96 and dropped to a low of $72.037 until finishing in the latest session at $73.73.

The one-year CNC stock forecast points to a potential upside of 8.7. The average equity rating for CNC stock is currently 1.90, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on 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 $80.76 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.

Wells Fargo have made an estimate for Centene Corporation shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on May 19, 2021. While these analysts kept the previous recommendation, Stephens raised their target price from $71 to $87. The new note on the price target was released on May 11, 2021, representing the official price target for Centene Corporation stock. Previously, the target price had yet another raise to $65, while Mizuho analysts kept a Neutral rating on CNC stock.

The Average True Range (ATR) for Centene Corporation is set at 1.87, with the Price to Sales ratio for CNC stock in the period of the last 12 months amounting to 0.36. The Price to Book ratio for the last quarter was 1.63, with the Price to Cash per share for the same quarter was set at 16.96. Price to Free Cash Flow for CNC in the course of the last twelve months was 8.53.

CNC Stock Performance Analysis:

Centene Corporation [CNC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.55. With this latest performance, CNC shares gained by 14.06% in over the last four-week period, additionally plugging by 11.78% over the last 6 months – not to mention a rise of 12.31% 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 71.15, with the RSI for the last a single of trading hit 76.21, and the three-weeks RSI is set at 67.78 for Centene Corporation [CNC]. The present Moving Average for the last 50 days of trading for this stock 65.11, while it was recorded at 71.54 for the last single week of trading, and 62.71 for the last 200 days.

Insight into Centene Corporation 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.

CNC Stock EPS

With the latest financial reports released by the company, Centene Corporation posted 2.4/share EPS, while the average EPS was predicted by analysts to be reported at 2.38/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 0.80%. 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 10.32%.

Centene Corporation [CNC] Insider Position Details

There are presently around $39,410 million, or 94.10% of CNC stock, in the hands of institutional investors. The top three institutional holders of CNC stocks are: VANGUARD GROUP INC with ownership of 61,703,882, which is approximately 0.206% of the company’s market cap and around 1.90% of the total institutional ownership; BLACKROCK INC., holding 44,444,266 shares of the stock with an approximate value of $3.28 billion in CNC stocks shares; and CAPITAL WORLD INVESTORS, currently with $2.63 billion in CNC stock with ownership of nearly -5.834% 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 391 institutional holders increased their position in Centene Corporation [NYSE:CNC] by around 42,530,754 shares. Additionally, 335 investors decreased positions by around 44,002,959 shares, while 112 investors held positions by with 447,988,930 shares. The mentioned changes placed institutional holdings at 534,522,643 shares, according to the latest SEC report filing. CNC stock had 84 new institutional investments in for a total of 2,533,363 shares, while 67 institutional investors sold positions of 11,181,350 shares during the same period.

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