Centene Corporation [CNC] Stock trading around $74.15 per share: What’s Next?

Centene Corporation [NYSE: CNC] closed the trading session at $74.15 on 10/20/22. The day’s price range saw the stock hit a low of $73.95, while the highest price level was $76.57. The company report on October 17, 2022 that Ambetter Health Expands Benefit Offerings and Geographic Footprint in 2023; Announces Refreshed Brand Name.


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Ambetter Health, Centene Corporation’s (NYSE: CNC) health insurance marketplace carrier, announced today that it will expand into Alabama and extend its footprint by more than 60 counties across 12 existing states in 2023. The company also announced its updated brand name, Ambetter Health, reflecting its commitment to putting better health at the forefront of its mission.

This past year marked another successful year of Ambetter Health providing members with affordable access to quality care. In 2022, Ambetter Health served more than 2 million members across 27 states. In 2023, Ambetter Health will expand into Alabama and 60 new counties. In total, the Marketplace plan will be available in more than 1,500 counties across 28 states.

The stocks have a year to date performance of -10.01 percent and weekly performance of -1.47 percent. The stock has been moved at -15.59 percent over the last six months. The stock has performed -8.35 percent around the most recent 30 days and changed -18.46 percent over the most recent 3-months.

If compared to the average trading volume of 3.57M shares, CNC reached to a volume of 2673597 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 $102.37 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 2.40, with the Price to Sales ratio for CNC stock in the period of the last 12 months amounting to 0.31. 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 23.21. Price to Free Cash Flow for CNC in the course of the last twelve months was 7.17.

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 -1.47. With this latest performance, CNC shares dropped by -8.35% in over the last four-week period, additionally sinking by -15.59% over the last 6 months – not to mention a rise of 8.90% 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 34.61, with the RSI for the last a single of trading hit 34.59, and the three-weeks RSI is set at 35.70 for Centene Corporation [CNC]. The present Moving Average for the last 50 days of trading for this stock 85.23, while it was recorded at 74.93 for the last single week of trading, and 84.30 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 +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 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 12.48%.

Centene Corporation [CNC]: Insider Ownership positions

There are presently around $40,487 million, or 98.10% of CNC stock, in the hands of institutional investors. The top three institutional holders of CNC stocks are: VANGUARD GROUP INC with ownership of 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 $3.52 billion in CNC stocks shares; and BLACKROCK INC., currently with $3.15 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 403 institutional holders increased their position in Centene Corporation [NYSE:CNC] by around 25,426,984 shares. Additionally, 375 investors decreased positions by around 24,192,321 shares, while 135 investors held positions by with 496,399,111 shares. The mentioned changes placed institutional holdings at 546,018,416 shares, according to the latest SEC report filing. CNC stock had 87 new institutional investments in for a total of 2,321,988 shares, while 72 institutional investors sold positions of 6,147,275 shares during the same period.

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