Centene Corporation [CNC] Revenue clocked in at $144.55 billion, down -12.61% YTD: What’s Next?

Centene Corporation [NYSE: CNC] closed the trading session at $71.67 on 02/23/23. The day’s price range saw the stock hit a low of $70.91, while the highest price level was $72.32. The company report on February 23, 2023 that Centene Addresses Social Isolation in Schools with National No One Eats Alone Day.

Centene Charitable Foundation Sponsored National No One Eats Alone® Day for Seventh Consecutive Year.

Health Plans Hosted Events in 220 Schools across the Country in 2023.

The stocks have a year to date performance of -12.61 percent and weekly performance of -1.96 percent. The stock has been moved at -24.65 percent over the last six months. The stock has performed -5.40 percent around the most recent 30 days and changed -12.73 percent over the most recent 3-months.

If compared to the average trading volume of 3.76M shares, CNC reached to a volume of 3369609 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 $92.72 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.

JP Morgan have made an estimate for Centene Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on February 23, 2023. While these analysts kept the previous recommendation, BofA Securities raised their target price from $100 to $85. The new note on the price target was released on December 13, 2022, representing the official price target for Centene Corporation stock. Previously, the target price had yet another raise to $90, while Argus analysts kept a Buy rating on CNC stock. On August 26, 2022, analysts decreased their price target for CNC shares from 103 to 99.

The Average True Range (ATR) for Centene Corporation is set at 1.71, with the Price to Sales ratio for CNC stock in the period of the last 12 months amounting to 0.27. The Price to Book ratio for the last quarter was 1.62, with the Price to Cash per share for the same quarter was set at 27.34. Price to Free Cash Flow for CNC in the course of the last twelve months was 6.56.

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 -1.96. With this latest performance, CNC shares dropped by -5.40% in over the last four-week period, additionally sinking by -24.65% over the last 6 months – not to mention a drop of -11.88% 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 37.26, with the RSI for the last a single of trading hit 36.00, and the three-weeks RSI is set at 38.25 for Centene Corporation [CNC]. The present Moving Average for the last 50 days of trading for this stock 76.92, while it was recorded at 72.52 for the last single week of trading, and 82.97 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 +2.94. Centene Corporation’s Net Margin is presently recorded at +0.83.

Return on Equity for this stock inclined to 4.73, with Return on Assets sitting at 1.53.

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 11.19%.

Centene Corporation [CNC]: Insider Ownership positions

There are presently around $37,033 million, or 98.40% of CNC stock, in the hands of institutional investors. The top three institutional holders of CNC stocks are: VANGUARD GROUP INC with ownership of 65,260,984, which is approximately 0.134% of the company’s market cap and around 0.50% of the total institutional ownership; CAPITAL WORLD INVESTORS, holding 49,805,304 shares of the stock with an approximate value of $3.57 billion in CNC stocks shares; and BLACKROCK INC., currently with $2.91 billion in CNC stock with ownership of nearly -3.44% of the company’s market capitalization.

Positions in Centene Corporation stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 445 institutional holders increased their position in Centene Corporation [NYSE:CNC] by around 26,761,846 shares. Additionally, 413 investors decreased positions by around 46,772,996 shares, while 120 investors held positions by with 443,179,419 shares. The mentioned changes placed institutional holdings at 516,714,261 shares, according to the latest SEC report filing. CNC stock had 133 new institutional investments in for a total of 3,897,213 shares, while 86 institutional investors sold positions of 3,512,878 shares during the same period.