Centene Corporation [NYSE: CNC] gained 0.16% on the last trading session, reaching $68.51 price per share at the time.
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Centene Corporation represents 559.93 million in outstanding shares, while the company has a total market value of $38.51 billion with the latest information. CNC stock price has been found in the range of $67.58 to $69.085.
If compared to the average trading volume of 3.78M shares, CNC reached a trading volume of 3447514 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 $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 1.66, 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 1.59, with the Price to Cash per share for the same quarter was set at 21.48. Price to Free Cash Flow for CNC in the course of the last twelve months was 7.35.
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 -5.22. With this latest performance, CNC shares dropped by -8.29% in over the last four-week period, additionally sinking by -25.08% over the last 6 months – not to mention a drop of -17.08% 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 28.00, with the RSI for the last a single of trading hit 22.43, and the three-weeks RSI is set at 31.67 for Centene Corporation [CNC]. The present Moving Average for the last 50 days of trading for this stock 75.79, while it was recorded at 69.79 for the last single week of trading, and 82.76 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 +2.67. 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 1.52.
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 11.19%.
An analysis of insider ownership at Centene Corporation [CNC]
There are presently around $35,401 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 $3.41 billion in CNC stocks shares; and BLACKROCK INC., currently with $2.79 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 46,757,852 shares, while 120 investors held positions by with 443,209,615 shares. The mentioned changes placed institutional holdings at 516,729,313 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.