The price of Centene Corporation (NYSE:CNC) shares last traded on Wall Street fell -0.61% to $65.40.
Based on available information, 22 analysts follow Centene Corporation (NYSE:CNC). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $110.00 and a low of $71.00, we find $83.10. Given the previous closing price of $65.80, this indicates a potential upside of 26.29 percent. CNC stock price is now -1.10% away from the 50-day moving average and -15.73% away from the 200-day moving average. The market capitalization of the company currently stands at $36.11B.
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Among analysts, 6 rate the stock a hold while 12 rate it a buy. Brokers who have rated the stock have averaged $84.58 as their price target over the next twelve months.
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In other news, Robinson Lori Jean, Director sold 1,400 shares of the company’s stock on Apr 27. The stock was sold for $93,226 at an average price of $66.59. Upon completion of the transaction, the Director now directly owns 8,508 shares in the company, valued at $0.56 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 17, Chief Executive Officer LONDON SARAH bought 30,000 shares of the business’s stock. A total of $1,878,000 was incurred on buying the stock at an average price of $62.60. This leaves the insider owning 313,953 shares of the company worth $20.53 million. Insiders disposed of 132,784 shares of company stock worth roughly $8.68 million over the past 1 year. A total of 0.50% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CNC stock. A new stake in Centene Corporation shares was purchased by SOUND SHORE MANAGEMENT INC /CT/ during the first quarter worth $56,013,000. POINTSTATE CAPITAL LP invested $41,111,000 in shares of CNC during the first quarter. In the first quarter, VOLORIDGE INVESTMENT MANAGEMENT, LLC acquired a new stake in Centene Corporation valued at approximately $39,668,000. CANOE FINANCIAL LP acquired a new stake in CNC for approximately $30,940,000. 1832 ASSET MANAGEMENT L.P. purchased a new stake in CNC valued at around $29,764,000 in the second quarter. In total, there are 1,274 active investors with 98.40% ownership of the company’s stock.
A candlestick chart of Centene Corporation (NYSE: CNC) showed a price of $66.00 on Friday morning. During the past 12 months, Centene Corporation has had a low of $61.71 and a high of $98.53. As of last week, the company has a debt-to-equity ratio of 0.73, a current ratio of 1.80, and a quick ratio of 1.80. According to the stock market information, the enterprise value for the company is $41.68B, which is based on a 24.81 price-to-earnings ratio, a 2.64 price-to-earnings-growth ratio, and a beta of 0.56. The fifty day moving average price for CNC is $66.12 and a two-hundred day moving average price translates $77.47 for the stock.
The latest earnings results from Centene Corporation (NYSE: CNC) was released for Mar, 2023. According to the Healthcare Plans Company, earnings per share came in at $2.11, beating analysts’ expectations of $2.09 by 0.02. This compares to $1.44 EPS in the same period last year. The net profit margin was 1.00% and return on equity was 5.90% for CNC. The company reported revenue of $38.89 billion for the quarter, compared to $37.19 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 4.58 percent. For the current quarter, analysts expect CNC to generate $36.5B in revenue.
Centene Corporation(CNC) Company Profile
Centene Corporation operates as a healthcare enterprise that provides programs and services to under-insured and uninsured families, commercial organizations, and military families in the United States. It operates in two segments, Managed Care and Specialty Services. The Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children’s health insurance program, long-term services and support, foster care, and medicare-medicaid plans, which cover dually eligible individuals, as well as aged, blind, or disabled programs. This segment also provides a variety of individual, small group, and large group commercial healthcare products to employers and members. This segment also offers various individual, small group, and large group commercial healthcare products to employers and members. The Specialty Services segment offers behavioral health and employee assistance plans; clinical healthcare, primary care, various specialty services, and a suite of social and other support services; data analytics solutions; administrative services to Military Health System eligible beneficiaries; traditional pharmacy clinical and administrative services as well as specialized pharmacy benefit services through its specialty pharmacy business; and vision and dental health services. This segment provides auxiliary healthcare services and products to state programs, correctional facilities, healthcare organizations, employer groups, and other commercial organizations; and engages in the government contracts business under the TRICARE program and other healthcare related government contracts. The company provides its services through primary and specialty care physicians, hospitals, and ancillary providers. Centene Corporation was founded in 1984 and is headquartered in St. Louis, Missouri.
