why Centene Corporation [CNC] is a Good Choice for Investors After New Price Target of $80.76

Centene Corporation [NYSE: CNC] jumped around 1.69 points on Thursday, while shares priced at $74.31 at the close of the session, up 2.33%. The company report on June 17, 2021 that Centene Announces Winners Of Youth Impact Award For Vaping Prevention.

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Centene Corporation (NYSE: CNC) has announced the winners of the Centene Institute Youth Impact Award for Vaping Prevention. The national program is a curriculum and contest for adolescents ages 14 through 19 to raise awareness about vaping, e-cigarette use and prevention. The three national winners from Ohio, Georgia and New Jersey were recognized for their exceptional work and received awards during a virtual ceremony on June 14, 2021. The winning submission from Ohio can be viewed here.

The contest challenged youth to take action by developing and submitting a 30 to 60-second Public Service Announcement (PSA) video to educate their peers about the dangers of vaping. The contest accepted submissions from January 19 through April 16, 2021. During that time, Centene received over 150 entries across 30 states. The winning submissions were evaluated by judges based on the effectiveness of the message, originality and production quality.

Centene Corporation stock is now 23.79% up from its year-to-date (YTD) trading value. CNC Stock saw the intraday high of $74.59 and lowest of $72.12 per share. The company’s 52-week high price is 75.25, which means current price is +30.00% above from all time high which was touched on 06/16/21.

Compared to the average trading volume of 4.20M shares, CNC reached a trading volume of 8751393 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 $80.76 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 1.73, with the Price to Sales ratio for CNC stock in the period of the last 12 months amounting to 0.38. The Price to Book ratio for the last quarter was 1.64, with the Price to Cash per share for the same quarter was set at 16.47. Price to Free Cash Flow for CNC in the course of the last twelve months was 8.85.

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 4.63. With this latest performance, CNC shares gained by 5.06% in over the last four-week period, additionally plugging by 23.07% over the last 6 months – not to mention a rise of 16.97% 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 64.31, with the RSI for the last a single of trading hit 67.09, and the three-weeks RSI is set at 62.88 for Centene Corporation [CNC]. The present Moving Average for the last 50 days of trading for this stock 68.14, while it was recorded at 71.30 for the last single week of trading, and 63.58 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.

Earnings analysis for Centene Corporation [CNC]

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%.

Insider trade positions for Centene Corporation [CNC]

There are presently around $39,790 million, or 93.90% 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 $3.3 billion in CNC stocks shares; and CAPITAL WORLD INVESTORS, currently with $2.65 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 42,484,189 shares. Additionally, 336 investors decreased positions by around 44,003,941 shares, while 112 investors held positions by with 448,971,226 shares. The mentioned changes placed institutional holdings at 535,459,356 shares, according to the latest SEC report filing. CNC stock had 85 new institutional investments in for a total of 2,538,335 shares, while 67 institutional investors sold positions of 11,181,350 shares during the same period.

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