Centene Corporation (CNC) Stock Could Soon Reward Patient Investors

Centene Corporation (NYSE: CNC) is -1.57% lower on its value in year-to-date trading and has touched a low of $41.62 and a high of $74.70 in the current 52-week trading range. The CNC stock was last observed hovering at around $63.77 in the last trading session, with the day’s loss setting it -1.89% off its average median price target of $85.00 for the next 12 months. It is also 39.33% off the consensus price target high of $102.00 offered by 19 analysts, but current levels are 14.65% higher than the price target low of $72.50 for the same period.

Currently trading at $61.88, the stock is -4.04% and -6.43% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 5.13 million and changing -2.96% at the moment leaves the stock 5.30% off its SMA200. CNC registered 14.78% gain for a year compared to 6-month gain of -1.62%. The firm has a 50-day simple moving average (SMA 50) of $65.22 and a 200-day simple moving average (SMA200) of $62.71.

The stock witnessed a -4.05% loss in the last 1 month and extending the period to 3 months gives it a 18.34%, and is -2.60% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.94% over the week and 3.66% over the month.

Centene Corporation (CNC) has around 56600 employees, a market worth around $35.69B and $82.22B in sales. Current P/E ratio is 31.19 and Fwd P/E is 10.68. Profit margin for the company is 1.00%. Distance from 52-week low is 48.66% and -17.16% from its 52-week high. The company has generated returns on investments over the last 12 months (4.90%).

Centene Corporation (CNC) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Centene Corporation (CNC) is a “Buy”. 19 analysts offering their recommendations for the stock have an average rating of 1.70, where 1 rate it as a Hold and 1 think it is a “Overweight”. 17 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Centene Corporation is expected to release its quarterly report on 07/28/2020 and quarterly earnings per share for the current quarter are estimated at $2.3 with sales reaching $27.6B over the same period.The EPS is expected to grow by 39.10% this year, but quarterly earnings will post 45.80% year-over-year. Quarterly sales are estimated to grow 50.30% in year-over-year returns.

Centene Corporation (CNC) Top Institutional Holders

1,026 institutions hold shares in Centene Corporation (CNC), with 11M shares held by insiders accounting for 1.90% while institutional investors hold 82.73% of the company’s shares. The shares outstanding are 579.13M, and float is at 568.17M with Short Float at 2.02%. Institutions hold 81.16% of the Float.

The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 65.78 million shares valued at $3.91 billion. The investor’s holdings represent 11.36% of the CNC Shares outstanding. As of Mar 30, 2020, the second largest holder is Price (T.Rowe) Associates Inc with 50.93 million shares valued at $3.03 billion to account for 8.79% of the shares outstanding. The other top investors are Blackrock Inc. which holds 44.35 million shares representing 7.66% and valued at over $2.64 billion, while Capital World Investors holds 6.76% of the shares totaling 39.18 million with a market value of $2.33 billion.

Centene Corporation (CNC) Insider Activity

A total of 77 insider transactions have happened at Centene Corporation (CNC) in the last six months, with sales accounting for 31 and purchases happening 46 times. The most recent transaction is an insider sale by AYALA ORLANDO, the company’s Director. SEC filings show that AYALA ORLANDO sold 30,000 shares of the company’s common stock on Jun 22 at a price of $63.87 per share for a total of $1.92 million. Following the sale, the insider now owns 0.16 million shares.

Centene Corporation disclosed in a document filed with the SEC on Jun 19 that GEPHARDT Richard A (Director) sold a total of 14,749 shares of the company’s common stock. The trade occurred on Jun 19 and was made at $65.28 per share for $0.96 million. Following the transaction, the insider now directly holds 60262.0 shares of the CNC stock.

Still, SEC filings show that on Jun 16, GEPHARDT Richard A (Director) disposed off 10,401 shares at an average price of $65.02 for $0.68 million. The insider now directly holds 75,011 shares of Centene Corporation (CNC).

Centene Corporation (CNC): Who are the competitors?

The company’s main competitors (and peers) include Humana Inc. (HUM) that is trading 42.00% up over the past 12 months. Triple-S Management Corporation (GTS) is -16.93% down on the 1-year trading charts. Short interest in the company’s stock has risen 20.89% from the last report on Apr 29, 2020 to stand at a total of 9.09 million short shares sold with a short interest ratio of 3.32.