Centene Corporation [CNC] is -22.45% lower this YTD. Is it still time to buy?

Centene Corporation [NYSE: CNC] closed the trading session at $63.60 on 03/22/23. The day’s price range saw the stock hit a low of $63.57, while the highest price level was $65.63. The company report on March 17, 2023 that Health Net Providing Special Assistance to Members Affected by Winter Storms.

Health Net Assisting Members in Calaveras, Del Norte, Glenn, Kings, San Benito, and San Joaquin Counties During State of Emergency.

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In response to Gov. Gavin Newsom’s declared state of emergency in Calaveras, Del Norte, Glenn, Kings, San Benito, and San Joaquin counties, Health Net is providing special assistance to assist members affected by the winter storms.  Health Net wants to ensure its members have access to essential prescription medications, critical Health Net information and other healthcare services should their services be interrupted.

The stocks have a year to date performance of -22.45 percent and weekly performance of 0.09 percent. The stock has been moved at -23.75 percent over the last six months. The stock has performed -12.00 percent around the most recent 30 days and changed -21.89 percent over the most recent 3-months.

If compared to the average trading volume of 3.89M shares, CNC reached to a volume of 2909665 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 $89.86 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.

Deutsche Bank have made an estimate for Centene Corporation shares, keeping their opinion on the stock as Hold, with their previous recommendation back on March 08, 2023. While these analysts kept the previous recommendation, JP Morgan dropped their target price from $94 to $90. The new note on the price target was released on February 23, 2023, representing the official price target for Centene Corporation stock. Previously, the target price had yet another drop from $100 to $85, while BofA Securities kept a Underperform rating on CNC stock.

The Average True Range (ATR) for Centene Corporation is set at 1.67, with the Price to Sales ratio for CNC stock in the period of the last 12 months amounting to 0.25. The Price to Book ratio for the last quarter was 1.48, with the Price to Cash per share for the same quarter was set at 21.68. Price to Free Cash Flow for CNC in the course of the last twelve months was 6.76.

CNC stock trade performance evaluation

Centene Corporation [CNC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.09. With this latest performance, CNC shares dropped by -12.00% in over the last four-week period, additionally sinking by -23.75% over the last 6 months – not to mention a drop of -26.69% 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 32.00, with the RSI for the last a single of trading hit 34.20, and the three-weeks RSI is set at 32.06 for Centene Corporation [CNC]. The present Moving Average for the last 50 days of trading for this stock 71.27, while it was recorded at 63.76 for the last single week of trading, and 81.40 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 +2.67. Centene Corporation’s Net Margin is presently recorded at +0.83.

Return on Total Capital for CNC is now 8.10, given the latest momentum, and Return on Invested Capital for the company is 2.55. Return on Equity for this stock inclined to 4.73, with Return on Assets sitting at 1.52. When it comes to the capital structure of this company, Centene Corporation [CNC] has a Total Debt to Total Equity ratio set at 88.68. Additionally, CNC Total Debt to Total Capital is recorded at 47.00, with Total Debt to Total Assets ending up at 27.16. Long-Term Debt to Equity for the company is recorded at 87.59, with the Long-Term Debt to Total Capital now at 46.42.

Reflecting on the efficiency of the workforce at the company, Centene Corporation [CNC] managed to generate an average of $16,178 per employee.

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 10.55%.

Centene Corporation [CNC]: Insider Ownership positions

There are presently around $32,822 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 $3.17 billion in CNC stocks shares; and BLACKROCK INC., currently with $2.59 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 26,772,096 shares. Additionally, 414 investors decreased positions by around 47,248,558 shares, while 120 investors held positions by with 442,045,131 shares. The mentioned changes placed institutional holdings at 516,065,785 shares, according to the latest SEC report filing. CNC stock had 132 new institutional investments in for a total of 3,893,125 shares, while 86 institutional investors sold positions of 3,512,878 shares during the same period.


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