Centene Corporation [CNC] Stock trading around $80.72 per share: What’s Next?


Centene Corporation [NYSE: CNC] slipped around -1.16 points on Wednesday, while shares priced at $80.72 at the close of the session, down -1.42%. The company report on April 26, 2022 that CENTENE CORPORATION REPORTS FIRST QUARTER 2022 RESULTS AND INCREASES 2022 GUIDANCE.

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— Diluted EPS of $1.44; Adjusted Diluted EPS of $1.83 –.

Centene Corporation stock is now -2.04% down from its year-to-date (YTD) trading value. CNC Stock saw the intraday high of $83.02 and lowest of $80.17 per share. The company’s 52-week high price is 89.92, which means current price is +8.40% above from all time high which was touched on 04/21/22.

Compared to the average trading volume of 2.59M shares, CNC reached a trading volume of 3551641 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 $95.71 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 2.00. 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.

Barclays have made an estimate for Centene Corporation shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on January 07, 2022. While these analysts kept the previous recommendation, JP Morgan raised their target price to Overweight. The new note on the price target was released on January 06, 2022, representing the official price target for Centene Corporation stock. Previously, the target price had yet another raise to $83, while Goldman analysts kept a Neutral rating on CNC stock. On December 13, 2021, analysts increased their price target for CNC shares from 72 to 80.

The Average True Range (ATR) for Centene Corporation is set at 2.47, with the Price to Sales ratio for CNC stock in the period of the last 12 months amounting to 0.39. The Price to Book ratio for the last quarter was 1.76, with the Price to Cash per share for the same quarter was set at 21.34. Price to Free Cash Flow for CNC in the course of the last twelve months was 15.06.

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 -9.31. With this latest performance, CNC shares dropped by -5.30% in over the last four-week period, additionally plugging by 13.74% over the last 6 months – not to mention a rise of 35.69% 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 38.50, with the RSI for the last a single of trading hit 32.59, and the three-weeks RSI is set at 42.39 for Centene Corporation [CNC]. The present Moving Average for the last 50 days of trading for this stock 84.83, while it was recorded at 83.94 for the last single week of trading, and 75.02 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 +2.77. Centene Corporation’s Net Margin is presently recorded at +1.07.

Return on Equity for this stock inclined to 5.12, with Return on Assets sitting at 1.80.

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 10.69%.

Insider trade positions for Centene Corporation [CNC]

There are presently around $44,208 million, or 95.50% of CNC stock, in the hands of institutional investors. The top three institutional holders of CNC stocks are: VANGUARD GROUP INC with ownership of 62,485,541, which is approximately 0.373% of the company’s market cap and around 1.90% of the total institutional ownership; CAPITAL WORLD INVESTORS, holding 46,851,859 shares of the stock with an approximate value of $3.84 billion in CNC stocks shares; and BLACKROCK INC., currently with $3.37 billion in CNC stock with ownership of nearly 1.219% of the company’s market capitalization.

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 422 institutional holders increased their position in Centene Corporation [NYSE:CNC] by around 48,899,215 shares. Additionally, 357 investors decreased positions by around 43,135,309 shares, while 109 investors held positions by with 447,874,507 shares. The mentioned changes placed institutional holdings at 539,909,031 shares, according to the latest SEC report filing. CNC stock had 135 new institutional investments in for a total of 19,445,396 shares, while 73 institutional investors sold positions of 9,906,017 shares during the same period.