Wall Street Analyst Initiated Centene Corporation [CNC]. What else is Wall St. saying


Centene Corporation [NYSE: CNC] traded at a low on 12/30/21, posting a -0.27 loss after which it closed the day’ session at $83.99. The company report on December 30, 2021 that Centene and Magellan Satisfy All Regulatory Approvals for Completion of Acquisition Agreement.

Centene Corporation (NYSE: CNC) and Magellan Health, Inc. (NASDAQ: MGLN) today announced that they have obtained all required regulatory approvals necessary to close Centene’s pending acquisition of Magellan Health. Subject to the satisfaction of customary closing deliveries, the parties anticipate closing the acquisition on or about January 4, 2022.

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The agreement enables Centene to provide whole-health solutions across physical and mental health to deliver better health outcomes at lower costs for complex, high-cost populations.

The results of the trading session contributed to over 1986900 shares changing hands. Over the past one week, the price volatility of Centene Corporation stands at 1.43% while the volatility over the past one month is 2.61%.

The market cap for CNC stock reached $48.81 billion, with 583.24 million shares outstanding and 576.64 million shares in the current float. Compared to the average trading volume of 4.13M shares, CNC reached a trading volume of 1986900 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 $90.30 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 1.80. 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 December 14, 2021. While these analysts kept the previous recommendation, Wolfe Research raised their target price from $72 to $80. The new note on the price target was released on December 13, 2021, representing the official price target for Centene Corporation stock. Previously, the target price had yet another raise from $88 to $90, while Wells Fargo kept a Overweight rating on CNC stock. On December 13, 2021, analysts increased their price target for CNC shares from 90 to 94.

The Average True Range (ATR) for Centene Corporation is set at 1.96, with the Price to Sales ratio for CNC stock in the period of the last 12 months amounting to 0.40. The Price to Book ratio for the last quarter was 1.85, with the Price to Cash per share for the same quarter was set at 23.10. Price to Free Cash Flow for CNC in the course of the last twelve months was 8.65.

How has CNC stock performed recently?

Centene Corporation [CNC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.45. With this latest performance, CNC shares gained by 17.62% in over the last four-week period, additionally plugging by 14.02% over the last 6 months – not to mention a rise of 42.55% 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 70.43, with the RSI for the last a single of trading hit 71.75, and the three-weeks RSI is set at 68.45 for Centene Corporation [CNC]. The present Moving Average for the last 50 days of trading for this stock 75.64, while it was recorded at 84.35 for the last single week of trading, and 69.23 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]

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 10.80%.

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Insider trade positions for Centene Corporation [CNC]

There are presently around $45,688 million, or 94.50% of CNC stock, in the hands of institutional investors. The top three institutional holders of CNC stocks are: VANGUARD GROUP INC with ownership of 62,253,167, which is approximately 0.771% of the company’s market cap and around 1.80% of the total institutional ownership; CAPITAL WORLD INVESTORS, holding 43,133,984 shares of the stock with an approximate value of $3.63 billion in CNC stocks shares; and BLACKROCK INC., currently with $3.42 billion in CNC stock with ownership of nearly -3.161% of the company’s market capitalization.

Positions in Centene Corporation stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 327 institutional holders increased their position in Centene Corporation [NYSE:CNC] by around 33,083,571 shares. Additionally, 379 investors decreased positions by around 38,449,029 shares, while 118 investors held positions by with 470,951,685 shares. The mentioned changes placed institutional holdings at 542,484,285 shares, according to the latest SEC report filing. CNC stock had 71 new institutional investments in for a total of 4,542,347 shares, while 83 institutional investors sold positions of 6,335,363 shares during the same period.