Market Analysts see Centene Corporation [CNC] falling to $72. Time to buy?

Centene Corporation [NYSE: CNC] traded at a high on 09/12/23, posting a 0.90 gain after which it closed the day’ session at $67.02. The company report on September 7, 2023 at 4:15 PM that Peach State Health Plan and the Centene Foundation Announce a $1.5 Million Commitment to City of Refuge, Supporting the Atlanta Campus Expansion.

Investment will support a new health and wellness center, as well as a workforce innovation hub.

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Peach State Health Plan, a care management organization that helps Georgians live healthier lives through innovative healthcare solutions, and the Centene Foundation, the philanthropic arm of Centene Corporation (NYSE: CNC) focused on investing in economically challenged communities, announced today a $1.5 million commitment to City of Refuge, an Atlanta-based nonprofit that seeks to bring light, hope, and transformation to local individuals and families. The investment will support the development of a community health and wellness center as well as an innovation hub that supports unemployed members seeking employment.

The results of the trading session contributed to over 4114554 shares changing hands. Over the past one week, the price volatility of Centene Corporation stands at 3.03% while the volatility over the past one month is 2.09%.

The market cap for CNC stock reached $36.86 billion, with 548.93 million shares outstanding and 537.92 million shares in the current float. Compared to the average trading volume of 3.37M shares, CNC reached a trading volume of 4114554 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $81.68 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 2.30. 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.

BofA Securities have made an estimate for Centene Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on September 05, 2023.

The Average True Range (ATR) for Centene Corporation is set at 1.55, 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 1.43, with the Price to Cash per share for the same quarter was set at 35.24. Price to Free Cash Flow for CNC in the course of the last twelve months was 4.83 with Quick ratio for the last quarter at 1.10.

How has CNC stock performed recently?

Centene Corporation [CNC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.31. With this latest performance, CNC shares gained by 1.92% in over the last four-week period, additionally plugging by 4.44% over the last 6 months – not to mention a drop of -27.14% 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 59.17, with the RSI for the last a single of trading hit 65.27, and the three-weeks RSI is set at 55.53 for Centene Corporation [CNC]. The present Moving Average for the last 50 days of trading for this stock 65.95, while it was recorded at 65.72 for the last single week of trading, and 70.06 for the last 200 days.

Centene Corporation [CNC]: Deeper insight into the 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.Centene Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.10.

Earnings analysis for Centene Corporation [CNC]

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 10.61%.

Insider trade positions for Centene Corporation [CNC]

The top three institutional holders of CNC stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in CNC stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in CNC stock with ownership which is approximately 5.7381%.

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