Centene Corporation [CNC] Is Currently -1.42 below its 200 Period Moving Avg: What Does This Mean?

Centene Corporation [NYSE: CNC] loss -1.42% on the last trading session, reaching $73.76 price per share at the time. The company report on October 10, 2022 that Newsweek Names Health Net a Top Provider of Customer Service for Second Year in a Row.

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Health Net has once again been named by Newsweek to the annual “America’s Best Customer Service 2023” ranking. This is the second year in a row the company ranked number one among health insurance plans.

This year’s honor is noteworthy as Newsweek surveyed consumers during the trying and challenging times of the pandemic. Health Net is one of the state’s most experienced health plans, serving Californians for over 40 years.

Centene Corporation represents 583.64 million in outstanding shares, while the company has a total market value of $45.21 billion with the latest information. CNC stock price has been found in the range of $73.195 to $75.23.

If compared to the average trading volume of 3.53M shares, CNC reached a trading volume of 5576630 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $103.32 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 1.90. 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.

Argus have made an estimate for Centene Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 30, 2022. While these analysts kept the previous recommendation, Wells Fargo raised their target price from $103 to $99. The new note on the price target was released on August 26, 2022, representing the official price target for Centene Corporation stock. Previously, the target price had yet another raise to $107, while Barclays analysts kept a Overweight rating on CNC stock. On July 14, 2022, analysts increased their price target for CNC shares from 82 to 115.

The Average True Range (ATR) for Centene Corporation is set at 2.62, with the Price to Sales ratio for CNC stock in the period of the last 12 months amounting to 0.33. The Price to Book ratio for the last quarter was 1.64, with the Price to Cash per share for the same quarter was set at 21.92. Price to Free Cash Flow for CNC in the course of the last twelve months was 7.55.

Trading performance analysis for CNC stock

Centene Corporation [CNC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.80. With this latest performance, CNC shares dropped by -19.82% in over the last four-week period, additionally sinking by -16.64% over the last 6 months – not to mention a rise of 14.66% 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 27.42, with the RSI for the last a single of trading hit 23.46, and the three-weeks RSI is set at 31.01 for Centene Corporation [CNC]. The present Moving Average for the last 50 days of trading for this stock 88.19, while it was recorded at 78.10 for the last single week of trading, and 84.64 for the last 200 days.

Centene Corporation [CNC]: A deeper dive into fundamental analysis

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.

Centene Corporation [CNC]: An earnings per share (EPS) analysis

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 12.48%.

An analysis of insider ownership at Centene Corporation [CNC]

There are presently around $40,365 million, or 98.20% of CNC stock, in the hands of institutional investors. The top three institutional holders of CNC stocks are: VANGUARD GROUP INC with ownership of 65,334,084, which is approximately 2.715% of the company’s market cap and around 0.50% of the total institutional ownership; CAPITAL WORLD INVESTORS, holding 47,534,346 shares of the stock with an approximate value of $3.51 billion in CNC stocks shares; and BLACKROCK INC., currently with $3.13 billion in CNC stock with ownership of nearly 1.459% 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 407 institutional holders increased their position in Centene Corporation [NYSE:CNC] by around 25,943,530 shares. Additionally, 373 investors decreased positions by around 23,179,630 shares, while 132 investors held positions by with 498,129,295 shares. The mentioned changes placed institutional holdings at 547,252,455 shares, according to the latest SEC report filing. CNC stock had 88 new institutional investments in for a total of 2,578,113 shares, while 72 institutional investors sold positions of 6,052,418 shares during the same period.


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