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Are we looking at the next big move in Centene Corporation (CNC)?

Centene Corporation (NYSE: CNC) is -7.62% lower on its value in year-to-date trading and has touched a low of $73.19 and a high of $98.53 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The CNC stock was last observed hovering at around $75.79 in the last trading session, with the day’s loss setting it -0.03% off its average median price target of $100.00 for the next 12 months. It is also 31.13% off the consensus price target high of $110.00 offered by 21 analysts, but current levels are 10.87% higher than the price target low of $85.00 for the same period.

Currently trading at $75.76, the stock is -3.67% and -7.16% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 3.2 million and changing -0.04% at the moment leaves the stock -10.04% off its SMA200. CNC registered -1.79% loss for a year compared to 6-month loss of -17.59%.

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The stock witnessed a -7.21% gain in the last 1 month and extending the period to 3 months gives it a 2.59%, and is -1.28% 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 1.96% over the week and 2.37% over the month.

Centene Corporation (CNC) has around 72500 employees, a market worth around $42.74B and $141.55B in sales. Current P/E ratio is 22.11 and Fwd P/E is 11.91. Profit margin for the company is 1.40%. Distance from 52-week low is 3.50% and -23.11% from its 52-week high. The company has generated returns on investments over the last 12 months (3.40%).

Centene Corporation (CNC) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Centene Corporation (CNC) is a “Overweight”. 21 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”. 13 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 04/25/2023.The EPS is expected to shrink by -26.90% this year.

Centene Corporation (CNC) Top Institutional Holders

The shares outstanding are 573.96M, and float is at 563.21M with Short Float at 1.13%.

Centene Corporation (CNC) Insider Activity

A total of 26 insider transactions have happened at Centene Corporation (CNC) in the last six months, with sales accounting for 10 and purchases happening 16 times. The most recent transaction is an insider sale by BAGLEY SHANNON,the company’sEVP, Chief Admin. Officer. SEC filings show that BAGLEY SHANNON sold 9,000 shares of the company’s common stock on Jul 29 at a price of $92.21 per share for a total of $0.83 million. Following the sale, the insider now owns 0.12 million shares.

Centene Corporation disclosed in a document filed with the SEC on Jul 28 that Robinson Lori Jean (Director) sold a total of 1,200 shares of the company’s common stock. The trade occurred on Jul 28 and was made at $92.77 per share for $0.11 million. Following the transaction, the insider now directly holds 9908.0 shares of the CNC stock.

Still, SEC filings show that on Jul 08, GEPHARDT Richard A (Director) disposed off 4,480 shares at an average price of $88.00 for $0.39 million. The insider now directly holds 22,560 shares of Centene Corporation (CNC).

Centene Corporation (CNC): Who are the competitors?

The company’s main competitors (and peers) include HCA Healthcare Inc. (HCA) that is trading 6.20% up over the past 12 months and IQVIA Holdings Inc. (IQV) that is -6.30% lower over the same period. Laboratory Corporation of America Holdings (LH) is -6.47% down on the 1-year trading charts.

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