Centene Corporation [CNC] fell -6.99% so far this year. What now?


Centene Corporation [NYSE: CNC] traded at a low on 06/16/22, posting a -1.06 loss after which it closed the day’ session at $76.64. The company report on June 15, 2022 that At-risk Medi-Cal Members Get Access to Vaccinations Through Health Net’s Unique Care Collaboration.

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Innovative insurer and health equity pioneer works with MedArrive to provide vulnerable Medi-Cal members and their families access to in-home COVID-19 vaccinations.

Health Net, one of California’s longest serving and most experienced Medi-Cal partners, is offering in-home COVID-19 vaccinations to its most vulnerable members and their families. This approach is critical because research shows that in-home medical appointments are an effective way to remove barriers to COVID-19 vaccination among Medicaid enrollees. This is just one of the latest efforts spearheaded by Health Net to care for people outside of a provider’s office.

The results of the trading session contributed to over 4127920 shares changing hands. Over the past one week, the price volatility of Centene Corporation stands at 3.03% while the volatility over the past one month is 2.71%.

The market cap for CNC stock reached $45.11 billion, with 583.23 million shares outstanding and 579.39 million shares in the current float. Compared to the average trading volume of 2.75M shares, CNC reached a trading volume of 4127920 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 $96.18 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.

Bernstein have made an estimate for Centene Corporation shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on May 27, 2022. While these analysts kept the previous recommendation, BofA Securities dropped their target price from $95 to $90. The new note on the price target was released on May 26, 2022, representing the official price target for Centene Corporation stock. Previously, the target price had yet another raise to $95, while Barclays analysts kept a Overweight rating on CNC stock.

The Average True Range (ATR) for Centene Corporation is set at 2.50, with the Price to Sales ratio for CNC stock in the period of the last 12 months amounting to 0.34. The Price to Book ratio for the last quarter was 1.65, with the Price to Cash per share for the same quarter was set at 19.09. Price to Free Cash Flow for CNC in the course of the last twelve months was 10.38.

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 -4.22. With this latest performance, CNC shares dropped by -8.87% in over the last four-week period, additionally sinking by -8.03% over the last 6 months – not to mention a rise of 3.14% 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 38.12, with the RSI for the last a single of trading hit 34.29, and the three-weeks RSI is set at 40.80 for Centene Corporation [CNC]. The present Moving Average for the last 50 days of trading for this stock 83.02, while it was recorded at 77.11 for the last single week of trading, and 77.50 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 10.63%.

Insider trade positions for Centene Corporation [CNC]

There are presently around $42,317 million, or 96.10% of CNC stock, in the hands of institutional investors. The top three institutional holders of CNC stocks are: VANGUARD GROUP INC with ownership of 63,607,238, which is approximately 1.795% of the company’s market cap and around 1.90% of the total institutional ownership; CAPITAL WORLD INVESTORS, holding 50,535,746 shares of the stock with an approximate value of $3.91 billion in CNC stocks shares; and BLACKROCK INC., currently with $3.24 billion in CNC stock with ownership of nearly 1.674% 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 418 institutional holders increased their position in Centene Corporation [NYSE:CNC] by around 30,564,363 shares. Additionally, 372 investors decreased positions by around 24,674,573 shares, while 119 investors held positions by with 491,070,159 shares. The mentioned changes placed institutional holdings at 546,309,095 shares, according to the latest SEC report filing. CNC stock had 90 new institutional investments in for a total of 4,718,434 shares, while 68 institutional investors sold positions of 1,346,653 shares during the same period.