Centene Corporation [NYSE: CNC] plunged by -$3.45 during the normal trading session on Thursday and reaching a high of $79.77 during the day while it closed the day at $76.34. The company report on January 6, 2022 that CENTENE APPOINTS JIM MURRAY AS CHIEF TRANSFORMATION OFFICER.
Centene Corporation (NYSE: CNC) today announced that Jim Murray has been appointed as Chief Transformation Officer. Mr. Murray will report to Sarah London, Vice Chairman of the Board for Centene, and will lead Centene’s previously announced Value Creation Office and the Centene Advanced Behavioral Health division.
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Mr. Murray was previously the President and Chief Operating Officer for Magellan Health, which Centene acquired on January 4, 2022. In his previous role, Mr. Murray oversaw the Magellan Behavioral and Specialty Health and Magellan Complete Care business segments.
Centene Corporation stock has also loss -9.11% of its value over the past 7 days. However, CNC stock has inclined by 19.34% in the 3 months of the year. Over the past six months meanwhile, it has gained 3.85% and lost -7.35% year-on date.
The market cap for CNC stock reached $45.40 billion, with 583.24 million shares outstanding and 576.65 million shares in the current float. Compared to the average trading volume of 4.09M shares, CNC reached a trading volume of 6783872 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 $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.
JP Morgan have made an estimate for Centene Corporation shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on January 06, 2022. While these analysts kept the previous recommendation, Goldman raised their target price to Neutral. The new note on the price target was released on December 14, 2021, representing the official price target for Centene Corporation stock. Previously, the target price had yet another raise from $72 to $80, while Wolfe Research kept a Outperform rating on CNC stock. On December 13, 2021, analysts increased their price target for CNC shares from 88 to 90.
The Average True Range (ATR) for Centene Corporation is set at 2.20, 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 1.68, with the Price to Cash per share for the same quarter was set at 22.57. Price to Free Cash Flow for CNC in the course of the last twelve months was 8.05.
CNC stock trade performance evaluation
Centene Corporation [CNC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -9.11. With this latest performance, CNC shares gained by 4.01% in over the last four-week period, additionally plugging by 3.85% over the last 6 months – not to mention a rise of 9.45% 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 38.36, with the RSI for the last a single of trading hit 26.03, and the three-weeks RSI is set at 45.51 for Centene Corporation [CNC]. The present Moving Average for the last 50 days of trading for this stock 76.78, while it was recorded at 80.45 for the last single week of trading, and 69.63 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.
Earnings per share (EPS) analysis for Centene Corporation [CNC] stock
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%.
Centene Corporation [CNC]: Insider Ownership positions
There are presently around $42,420 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 $3.44 billion in CNC stocks shares; and BLACKROCK INC., currently with $3.24 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 February and at the time of the February reporting period, where 323 institutional holders increased their position in Centene Corporation [NYSE:CNC] by around 32,753,588 shares. Additionally, 376 investors decreased positions by around 38,217,845 shares, while 121 investors held positions by with 460,670,047 shares. The mentioned changes placed institutional holdings at 531,641,480 shares, according to the latest SEC report filing. CNC stock had 70 new institutional investments in for a total of 4,533,347 shares, while 83 institutional investors sold positions of 6,335,363 shares during the same period.