Centene Corp. [CNC] Stock trading around $77.18 per share: What’s Next?

Centene Corp. [NYSE: CNC] plunged by -$0.7 during the normal trading session on while it closed the day at $77.18. The company report on March 18, 2024 at 10:00 AM that Texas-based Superior HealthPlan Releases Annual Community Investment Report.

Superior partnered with 629 organizations and contributed nearly $1 million in funding to Texas-based community organizations in 2023.

Superior HealthPlan (“Superior”), a leading managed care organization in Texas and wholly owned subsidiary of Centene Corporation (NYSE: CNC), today released its annual community investment report, showcasing a commitment to supporting the health of individuals and families across the state. In 2023, Superior partnered with more than 400 community-based organizations and school districts, participated in 840 events, and contributed nearly $950,000 in grants, sponsorships, and employee donations to further Superior’s mission of transforming the health of the communities we serve, one person at a time.

Centene Corp. stock has also gained 1.49% of its value over the past 7 days. However, CNC stock has inclined by 3.56% in the 3 months of the year. Over the past six months meanwhile, it has gained 13.37% and gained 4.00% year-on date.

The market cap for CNC stock reached $41.28 billion, with 534.48 million shares outstanding and 529.47 million shares in the current float. Compared to the average trading volume of 2.94M shares, CNC reached a trading volume of 3036154 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 $89.88 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.

Stephens have made an estimate for Centene Corp. shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on Mar-22-24. While these analysts kept the previous recommendation, Barclays raised their target price to Overweight. The new note on the price target was released on March 06, 2024, representing the official price target for Centene Corp. stock. Previously, the target price had yet another raise from $82 to $90, while Wells Fargo kept a Overweight rating on CNC stock. On September 05, 2023, analysts decreased their price target for CNC shares from 79 to 72.

The Average True Range (ATR) for Centene Corp. 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 1.60. Price to Free Cash Flow for CNC in the course of the last twelve months was 5.69.

CNC stock trade performance evaluation

Centene Corp. [CNC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.49. With this latest performance, CNC shares dropped by -2.51% in over the last four-week period, additionally plugging by 13.37% over the last 6 months – not to mention a rise of 18.21% 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 48.42, with the RSI for the last a single of trading hit 47.27, and the three-weeks RSI is set at 49.70 for Centene Corp. [CNC]. The present Moving Average for the last 50 days of trading for this stock 77.17, while it was recorded at 77.25 for the last single week of trading, and 71.31 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 1.11.

Earnings per share (EPS) analysis for Centene Corp. [CNC] stock

With the latest financial reports released by the company, Centene Corp. posted 2.11/share EPS, while the average EPS was predicted by analysts to be reported at 2.09/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 1.00%. 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%.

Most Popular