Centene Corp. [CNC] Is Currently -6.82 below its 200 Period Moving Avg: What Does This Mean?

NFLX Stock

Centene Corp. [NYSE: CNC] loss -6.82% or -5.3 points to close at $72.45 with a heavy trading volume of 5832296 shares. The company report on April 1, 2024 at 8:40 AM that Oklahoma Complete Health Now Serving SoonerSelect Members.

Oklahoma Complete Health, a care management organization serving the needs of Oklahomans with health insurance solutions and a subsidiary of Centene Corporation (NYSE: CNC), is now delivering healthcare solutions to eligible SoonerSelect members throughout Oklahoma. SoonerSelect members have until July 1, 2024, to switch to Oklahoma Complete Health or the Children’s Specialty Program.

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“With strong partnerships with our provider community, Oklahoma Complete Health is working to make the transition for members as smooth as possible while offering broad access to a network of healthcare providers and an expanded focus on preventive and primary care services,” said Oklahoma Complete Health President and CEO Clay Franklin. “We are committed to providing excellent customer service and being attentive to SoonerSelect members’ needs as we work to transform the health of the communities we serve, one person at a time.”.

The daily chart for CNC points out that the company has recorded 5.18% gains over the past six months.

If we look at the average trading volume of 2.99M shares, CNC reached to a volume of 5832296 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 $89.62 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 March 21, 2024. 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 1.70, 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 1.50. Price to Free Cash Flow for CNC in the course of the last twelve months was 5.34.

Trading performance analysis for CNC stock

Centene Corp. [CNC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.99. With this latest performance, CNC shares dropped by -7.09% in over the last four-week period, additionally plugging by 5.18% over the last 6 months – not to mention a rise of 12.97% 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 31.77, with the RSI for the last a single of trading hit 25.18, and the three-weeks RSI is set at 36.63 for Centene Corp. [CNC]. The present Moving Average for the last 50 days of trading for this stock 77.06, while it was recorded at 76.92 for the last single week of trading, and 71.63 for the last 200 days.

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

Centene Corp.’s liquidity data is similarly interesting compelling, with a Current Ratio set at 1.11.

Centene Corp. [CNC]: An earnings per share (EPS) analysis

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%.

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

The top three institutional holders of CNC stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in CNC stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in CNC stock with ownership which is approximately 5.8386%.

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