Wall Street Analyst Upgrade Centene Corp. [CNC]. What else is Wall St. saying

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Centene Corp. [NYSE: CNC] gained 3.64% or 2.52 points to close at $71.84 with a heavy trading volume of 5556504 shares. The company report on November 2, 2023 at 8:00 AM that Ambetter from Sunshine Health Offers Health Insurance to 62 Counties Across Florida in 2024.

Ambetter from Sunshine Health offers Florida residents a variety of affordable plans during Open Enrollment beginning Nov. 1.

Ambetter from Sunshine Health, a product offered by wholly owned subsidiaries of Centene Corporation (NYSE: CNC) which provide insurance to under-insured and uninsured populations through the federal Health Insurance Marketplace, announced today that it will offer a variety of affordable health insurance plans to residents in 62 counties in Florida for 2024. Open enrollment for the Health Insurance Marketplace for Florida runs from Nov. 1, 2023, through Jan. 15, 2024.

It opened the trading session at $69.49, the shares rose to $71.93 and dropped to $68.99, the range by which the price of stock traded the whole day. The daily chart for CNC points out that the company has recorded 5.21% gains over the past six months. However, it is still -18.1% lower than its most recent low trading price.

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If we look at the average trading volume of 3.13M shares, CNC reached to a volume of 5556504 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 Corp. [CNC]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CNC shares is $82.89 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 2.17. 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 Corp. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on September 05, 2023.

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The Average True Range (ATR) for Centene Corp. is set at 1.64, with the Price to Sales ratio for CNC stock in the period of the last 12 months amounting to 0.26. The Price to Book ratio for the last quarter was 1.52. Price to Free Cash Flow for CNC in the course of the last twelve months was 7.04.

Trading performance analysis for CNC stock

Centene Corp. [CNC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.71. With this latest performance, CNC shares gained by 2.32% in over the last four-week period, additionally plugging by 5.21% over the last 6 months – not to mention a drop of -15.56% 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 61.70, with the RSI for the last a single of trading hit 66.26, and the three-weeks RSI is set at 59.49 for Centene Corp. [CNC]. The present Moving Average for the last 50 days of trading for this stock 68.42, while it was recorded at 69.68 for the last single week of trading, and 67.72 for the last 200 days.

Centene Corp. [CNC]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Centene Corp. [CNC] shares currently have an operating margin of +2.67. Centene Corp.’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 Corp. [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 Corp. [CNC] managed to generate an average of $16,178 per employee.Centene Corp.’s liquidity data is similarly interesting compelling, with a Current Ratio set at 1.12.

Centene Corp. [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 Corp. go to 12.82%.

An analysis of Institutional ownership at Centene Corp. [CNC]

The top three institutional holders of CNC stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in CNC stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in CNC stock with ownership which is approximately 5.7994%.

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