Centene Corp. [NYSE: CNC] loss -1.78% or -1.34 points to close at $73.94 with a heavy trading volume of 4600481 shares.
The daily chart for CNC points out that the company has recorded 2.06% gains over the past six months.
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If we look at the average trading volume of 3.87M shares, CNC reached to a volume of 4600481 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 $86.00 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 2.10. 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.
Jefferies have made an estimate for Centene Corp. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on July 24, 2024. While these analysts kept the previous recommendation, Robert W. Baird raised their target price to Neutral. The new note on the price target was released on May 30, 2024, representing the official price target for Centene Corp. stock. Previously, the target price had yet another drop from $92 to $85, while Stephens kept a Equal-Weight rating on CNC stock.
The Average True Range (ATR) for Centene Corp. is set at 1.59, 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 1.42. Price to Free Cash Flow for CNC in the course of the last twelve months was 17.20.
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 -0.62. With this latest performance, CNC shares dropped by -6.20% in over the last four-week period, additionally plugging by 2.06% over the last 6 months – not to mention a rise of 7.35% 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 45.86, with the RSI for the last a single of trading hit 43.44, and the three-weeks RSI is set at 47.79 for Centene Corp. [CNC]. The present Moving Average for the last 50 days of trading for this stock 75.32, while it was recorded at 74.32 for the last single week of trading, and 74.35 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 1.17.
Centene Corp. [CNC]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Centene Corp. posted 2/share EPS, while the average EPS was predicted by analysts to be reported at 1.57/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 0.43. 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 11.34%.
An analysis of Institutional ownership at Centene Corp. [CNC]
There are presently around $101.02%, or 101.29%% of CNC stock, in the hands of institutional investors. The top three institutional holders of CNC stocks are: VANGUARD GROUP INC with ownership of 60.72 million shares, which is approximately 11.3467%. BLACKROCK INC., holding 47.44 million shares of the stock with an approximate value of $$3.15 billion in CNC stocks shares; and BLACKROCK INC., currently with $$2.33 billion in CNC stock with ownership which is approximately 6.5557%.