Centene Corporation [CNC] Is Currently -0.43 below its 200 Period Moving Avg: What Dose This Mean?

Centene Corporation [NYSE: CNC] loss -0.43% or -0.32 points to close at $73.28 with a heavy trading volume of 4254440 shares. The company report on May 27, 2021 that Centene Corporation to Host Virtual Investor Meeting on June 16, 2021.

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Centene Corporation (NYSE: CNC) will host its next Investor Meeting in a virtual format on Wednesday, June 16th, 2021. Michael F. Neidorff, Chairman, President and Chief Executive Officer, and Drew L. Asher, Executive Vice President and Chief Financial Officer, of Centene Corporation will host the virtual meeting, which will be streamed live on the Company’s website at www.centene.com, under the Investors section. Additional details will be provided.

About Centene Corporation Centene Corporation, a Fortune 50 company, is a leading multi-national healthcare enterprise that is committed to helping people live healthier lives. The Company takes a local approach – with local brands and local teams – to provide fully integrated, high-quality, and cost-effective services to government sponsored and commercial healthcare programs, focusing on under-insured and uninsured individuals. Centene offers affordable and high-quality products to nearly 1 in 15 individuals across the nation, including Medicaid and Medicare members (including Medicare Prescription Drug Plans) as well as individuals and families served by the Health Insurance Marketplace, the TRICARE program, and individuals in correctional facilities. The Company also serves several international markets, and contracts with other healthcare and commercial organizations to provide a variety of specialty services focused on treating the whole person. Centene focuses on long-term growth and the development of its people, systems and capabilities so that it can better serve its members, providers, local communities, and government partners.

It opened the trading session at $73.87, the shares rose to $74.10 and dropped to $72.78, the range by which the price of stock traded the whole day. The daily chart for CNC points out that the company has recorded 16.00% gains over the past six months. However, it is still -36.72% lower than its most recent low trading price.

If we look at the average trading volume of 4.07M shares, CNC reached to a volume of 4254440 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $80.76 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 1.65, with the Price to Sales ratio for CNC stock in the period of the last 12 months amounting to 0.37. The Price to Book ratio for the last quarter was 1.62, with the Price to Cash per share for the same quarter was set at 16.49. Price to Free Cash Flow for CNC in the course of the last twelve months was 8.72.

Trading performance analysis for CNC stock

Centene Corporation [CNC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.87. With this latest performance, CNC shares gained by 18.69% in over the last four-week period, additionally plugging by 16.00% over the last 6 months – not to mention a rise of 11.54% 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 67.06, with the RSI for the last a single of trading hit 68.26, and the three-weeks RSI is set at 65.23 for Centene Corporation [CNC]. The present Moving Average for the last 50 days of trading for this stock 66.38, while it was recorded at 73.61 for the last single week of trading, and 63.00 for the last 200 days.

Centene Corporation [CNC]: A deeper dive into fundamental analysis

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 [CNC]: An earnings per share (EPS) analysis

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%.

An analysis of insider ownership at Centene Corporation [CNC]

There are presently around $39,238 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 $3.26 billion in CNC stocks shares; and CAPITAL WORLD INVESTORS, currently with $2.61 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 393 institutional holders increased their position in Centene Corporation [NYSE:CNC] by around 42,485,732 shares. Additionally, 336 investors decreased positions by around 44,003,985 shares, while 111 investors held positions by with 448,969,452 shares. The mentioned changes placed institutional holdings at 535,459,169 shares, according to the latest SEC report filing. CNC stock had 85 new institutional investments in for a total of 2,539,878 shares, while 67 institutional investors sold positions of 11,181,350 shares during the same period.

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