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Centene Corporation (CNC) – Don’t Believe the Hype: Check The Facts

1,086 institutions hold shares in Centene Corporation (CNC), with 6.6M shares held by insiders accounting for 1.13% while institutional investors hold 95.51% of the company’s shares. The shares outstanding are 580.13M, and float is at 570.41M with Short Float at 1.82%. Institutions hold 94.43% of the Float.

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The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 61.58 million shares valued at $3.7 billion. The investor’s holdings represent 10.59% of the CNC Shares outstanding. As of Dec 30, 2020, the second largest holder is Blackrock Inc. with 41.64 million shares valued at $2.5 billion to account for 7.16% of the shares outstanding. The other top investors are Price (T.Rowe) Associates Inc which holds 39.91 million shares representing 6.86% and valued at over $2.4 billion, while Capital World Investors holds 6.51% of the shares totaling 37.87 million with a market value of $2.27 billion.

Centene Corporation (NYSE: CNC) is 6.55% higher on its value in year-to-date trading and has touched a low of $53.60 and a high of $74.70 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The CNC stock was last observed hovering at around $63.25 in the last trading session, with the day’s gains setting it 0.71% off its average median price target of $79.50 for the next 12 months. It is also 37.29% off the consensus price target high of $102.00 offered by 19 analysts, but current levels are 1.6% higher than the price target low of $65.00 for the same period.

Currently trading at $63.96, the stock is 0.96% and 4.72% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.34 million and changing 1.12% at the moment leaves the stock 2.24% off its SMA200. CNC registered 13.48% gain for a year compared to 6-month gain of 8.74%. The firm has a 50-day simple moving average (SMA 50) of $61.56 and a 200-day simple moving average (SMA200) of $62.31.

The stock witnessed a 7.88% loss in the last 1 month and extending the period to 3 months gives it a 6.55%, and is -1.39% 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 2.12% over the week and 2.47% over the month.

Centene Corporation (CNC) has around 71300 employees, a market worth around $37.59B and $111.11B in sales. Current P/E ratio is 20.76 and Fwd P/E is 10.92. Profit margin for the company is 1.60%. Distance from 52-week low is 19.33% and -14.38% from its 52-week high. The company has generated returns on investments over the last 12 months (5.00%).

Centene Corporation (CNC) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Centene Corporation (CNC) is a “Overweight”. 19 analysts offering their recommendations for the stock have an average rating of 2.00, where 5 rate it as a Hold and 2 think it is a “Overweight”. 12 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 07/27/2021 and quarterly earnings per share for the current quarter are estimated at $1.62 with sales reaching $29.54B over the same period.The EPS is expected to shrink by -0.60% this year, but quarterly earnings will post 6.20% year-over-year. Quarterly sales are estimated to grow 13.50% in year-over-year returns.

Centene Corporation (CNC) Insider Activity

A total of 89 insider transactions have happened at Centene Corporation (CNC) in the last six months, with sales accounting for 60 and purchases happening 29 times. The most recent transaction is an insider sale by ROBERTS JOHN R, the company’s Director. SEC filings show that ROBERTS JOHN R sold 5,000 shares of the company’s common stock on Mar 19 at a price of $65.00 per share for a total of $0.33 million. Following the sale, the insider now owns 13879.0 shares.

Centene Corporation disclosed in a document filed with the SEC on Feb 26 that DITMORE ROBERT K (Director) bought a total of 170 shares of the company’s common stock. The trade occurred on Feb 26 and was made at $58.45 per share for $9936.0. Following the transaction, the insider now directly holds 56330.0 shares of the CNC stock.

Still, SEC filings show that on Feb 11, AYALA ORLANDO (Director) disposed off 8,000 shares at an average price of $60.97 for $0.49 million. The insider now directly holds 134,162 shares of Centene Corporation (CNC).

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Centene Corporation (CNC): Who are the competitors?

The company’s main competitors (and peers) include Humana Inc. (HUM) that is trading 37.67% up over the past 12 months and Anthem Inc. (ANTM) that is 67.88% higher over the same period. Triple-S Management Corporation (GTS) is 114.14% up on the 1-year trading charts. Short interest in the company’s stock has risen 16.28% from the last report on Feb 11, 2021 to stand at a total of 8.69 million short shares sold with a short interest ratio of 3.05.

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