In yesterday’s Wall Street session, Centene Corporation (NYSE:CNC) shares traded at $70.18, up 2.47% from the previous session.
23 analysts cover Centene Corporation (NYSE:CNC), according to research data. 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 $83.00. Given the previous closing price of $68.49, this indicates a potential upside of 21.19 percent. CNC stock price is now 5.89% away from the 50-day moving average and -3.58% away from the 200-day moving average. The market capitalization of the company currently stands at $37.35B.
The stock has received a hold rating from 8 analysts and a buy rating from 11. Brokers who have rated the stock have averaged $83.43 as their price target over the next twelve months.
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 $0.6 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 $22.03 million. Insiders disposed of 112,046 shares of company stock worth roughly $7.86 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 $60,107,000. POINTSTATE CAPITAL LP invested $44,115,000 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 $42,567,000. CANOE FINANCIAL LP acquired a new stake in CNC for approximately $33,202,000. 1832 ASSET MANAGEMENT L.P. purchased a new stake in CNC valued at around $31,939,000 in the second quarter. In total, there are 1,274 active investors with 98.40% ownership of the company’s stock.
On Thursday morning Centene Corporation (NYSE: CNC) stock kicked off with the opening price of $69.06. During the past 12 months, Centene Corporation has had a low of $61.34 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 $42.17B, which is based on a 26.62 price-to-earnings ratio, a 2.36 price-to-earnings-growth ratio, and a beta of 0.57. The fifty day moving average price for CNC is $66.31 and a two-hundred day moving average price translates $72.74 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 $36.47B in revenue.
