Barclays lifts Centene Corporation [CNC] price estimate. Who else is bullish?

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Centene Corporation [NYSE: CNC] price surged by 2.30 percent to reach at $1.91. The company report on May 5, 2022 that General Atlantic, Nautic Partners and The Vistria Group Announce Strategic Acquisition of PANTHERx Rare From Centene Corporation.

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Investor consortium plans to partner with PANTHERx Rare to fuel its continued expansion as a leading rare and orphan focused specialty pharmacy .

A leading investor consortium consisting of Nautic Partners, The Vistria Group and General Atlantic today announced it has signed a definitive agreement to acquire PANTHERx Rare (“PANTHERx” or “The Company”) from Centene Corporation (NYSE: CNC). The new partnership will focus on accelerating PANTHERx Rare’s continued growth as a premier and trusted pharmacy care delivery model for patients living with rare and orphan diseases.

A sum of 4678061 shares traded at recent session while its average daily volume was at 2.55M shares. Centene Corporation shares reached a high of $85.93 and dropped to a low of $82.11 until finishing in the latest session at $84.82.

The one-year CNC stock forecast points to a potential upside of 11.87. The average equity rating for CNC stock is currently 2.00, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on 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 $96.24 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 2.66, 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 1.82, with the Price to Cash per share for the same quarter was set at 18.97. Price to Free Cash Flow for CNC in the course of the last twelve months was 11.56.

CNC Stock Performance Analysis:

Centene Corporation [CNC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.96. With this latest performance, CNC shares dropped by -0.01% in over the last four-week period, additionally plugging by 14.78% over the last 6 months – not to mention a rise of 30.11% 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 52.32, with the RSI for the last a single of trading hit 55.51, and the three-weeks RSI is set at 51.51 for Centene Corporation [CNC]. The present Moving Average for the last 50 days of trading for this stock 84.69, while it was recorded at 81.54 for the last single week of trading, and 75.29 for the last 200 days.

Insight into Centene Corporation 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.

CNC Stock EPS

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 10.63%.

Centene Corporation [CNC] Insider Position Details

There are presently around $44,719 million, or 95.00% 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 $3.88 billion in CNC stocks shares; and BLACKROCK INC., currently with $3.41 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 420 institutional holders increased their position in Centene Corporation [NYSE:CNC] by around 49,428,673 shares. Additionally, 359 investors decreased positions by around 44,251,870 shares, while 109 investors held positions by with 445,691,181 shares. The mentioned changes placed institutional holdings at 539,371,724 shares, according to the latest SEC report filing. CNC stock had 129 new institutional investments in for a total of 19,346,677 shares, while 69 institutional investors sold positions of 9,985,516 shares during the same period.