Centene Corporation [CNC] Is Currently 0.66 below its 200 Period Moving Avg: What Does This Mean?

Centene Corporation [NYSE: CNC] price surged by 0.66 percent to reach at $0.55. The company report on November 4, 2022 that CENTENE TO PRESENT AT CREDIT SUISSE 31ST ANNUAL HEALTHCARE CONFERENCE.


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Centene Corporation (NYSE: CNC) announced today it will present at the Credit Suisse 31st Annual Healthcare Conference, to be held Monday, November 7-Friday, November 11, 2022, at the Terreana Resort in California.

Centene will present on Tuesday, November 8th at 9:10 a.m. Pacific Time (PT). A simultaneous live audio webcast is available at: https://enlivenstream.com/45367272.

A sum of 3882553 shares traded at recent session while its average daily volume was at 3.79M shares. Centene Corporation shares reached a high of $85.96 and dropped to a low of $81.69 until finishing in the latest session at $84.43.

The one-year CNC stock forecast points to a potential upside of 16.67. 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 $101.32 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 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.

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 2.57, 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 1.91, with the Price to Cash per share for the same quarter was set at 26.72. Price to Free Cash Flow for CNC in the course of the last twelve months was 6.32.

CNC Stock Performance Analysis:

Centene Corporation [CNC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.76. With this latest performance, CNC shares gained by 13.60% in over the last four-week period, additionally plugging by 3.94% over the last 6 months – not to mention a rise of 12.48% 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 57.30, with the RSI for the last a single of trading hit 59.96, and the three-weeks RSI is set at 54.41 for Centene Corporation [CNC]. The present Moving Average for the last 50 days of trading for this stock 81.82, while it was recorded at 83.40 for the last single week of trading, and 84.67 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 13.71%.

Centene Corporation [CNC] Insider Position Details

There are presently around $46,033 million, or 98.70% 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 $4.01 billion in CNC stocks shares; and BLACKROCK INC., currently with $3.58 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 387 institutional holders increased their position in Centene Corporation [NYSE:CNC] by around 26,605,992 shares. Additionally, 399 investors decreased positions by around 24,483,680 shares, while 134 investors held positions by with 494,130,146 shares. The mentioned changes placed institutional holdings at 545,219,818 shares, according to the latest SEC report filing. CNC stock had 85 new institutional investments in for a total of 3,991,232 shares, while 80 institutional investors sold positions of 5,337,115 shares during the same period.

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