Centene Corp. [NYSE: CNC] plunged by -$0.08 during the normal trading session on while it closed the day at $75.48. The company report on January 24, 2024 at 11:00 AM that Peach State Health Plan and the Centene Foundation Announce $2.2 Million Commitment to Augusta University.
Funding will support expansion of programs that work to place physicians and dentists in rural parts of Georgia.
Today, Peach State Health Plan, a care management organization that serves the needs of Georgians through a range of health insurance solutions and a wholly owned subsidiary of Centene Corporation (NYSE: CNC), and the Centene Foundation, the philanthropic arm of Centene Corporation, announced a $2.2 million funding commitment to Augusta University (AU). The funding will facilitate the expansion of the University’s Medical College of Georgia (MCG) 3+ Primary Care Pathway Program (MCG 3+ Program), as well as support the launch of a new loan forgiveness program for the university’s Dental College of Georgia (DCG) students who commit to five years of practice in rural and underserved areas. This commitment builds on an existing relationship with AU and is another example of the work underway to approach challenges that result from provider shortages in rural areas of the state.
Centene Corp. stock has also loss -3.23% of its value over the past 7 days. However, CNC stock has inclined by 6.52% in the 3 months of the year. Over the past six months meanwhile, it has gained 7.34% and gained 1.71% year-on date.
The market cap for CNC stock reached $40.32 billion, with 550.75 million shares outstanding and 528.65 million shares in the current float. Compared to the average trading volume of 3.18M shares, CNC reached a trading volume of 3155340 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 Corp. [CNC]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CNC shares is $87.39 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 2.05. 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.
Wells Fargo have made an estimate for Centene Corp. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on January 02, 2024.
The Average True Range (ATR) for Centene Corp. is set at 1.76, 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 1.60. Price to Free Cash Flow for CNC in the course of the last twelve months was 7.40.
CNC stock trade performance evaluation
Centene Corp. [CNC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.23. With this latest performance, CNC shares gained by 2.82% in over the last four-week period, additionally plugging by 7.34% over the last 6 months – not to mention a drop of -0.41% 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 48.17, with the RSI for the last a single of trading hit 44.02, and the three-weeks RSI is set at 50.68 for Centene Corp. [CNC]. The present Moving Average for the last 50 days of trading for this stock 74.85, while it was recorded at 75.39 for the last single week of trading, and 69.22 for the last 200 days.
Centene Corp. [CNC]: An insightful look at the core fundamentals
Centene Corp.’s liquidity data is similarly interesting compelling, with a Current Ratio set at 1.12.
Earnings per share (EPS) analysis for Centene Corp. [CNC] stock
With the latest financial reports released by the company, Centene Corp. posted 0.86/share EPS, while the average EPS was predicted by analysts to be reported at 0.85/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 1.20%. 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 11.71%.
Centene Corp. [CNC]: Institutional Ownership
The top three institutional holders of CNC stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in CNC stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in CNC stock with ownership which is approximately 5.8325%.
